Real Estate Timing AnalysisSep 13, 2018
THE REAL ESTATE TIMING ANALYSIS
Wickman Grads - you know this from The Floyd Wickman Program, but maybe it’s time for a refresher. Find the dialogue below to help you get started using this analysis in your business. Also find an image below this post with our version of this analysis laid out. Feel free to customize it to your liking!
So, you are thinking of selling, but you want to wait to put your house on the market?
You probably have a good reason for feeling that you ought to wait. Do you mind if I ask what that reason is?
How long do you feel you ought to wait? How did you happen to pick that date?
And when do you actually want to move?
What if you knew that by waiting you might make it impossible to move when you want to, would you have to wait?
So, in other words, if we can work out the timing, there’s nothing else preventing you from letting me handle your listing. Is that what you’re saying?
Are you familiar with The Real Estate Timing Analysis?
It gives you a bird’s eye view of the time frames it currently takes a Seller to get their house on the market, get it sold, get their money and move. It will help you time the market to get the best price, and avoid running out of time and jeopardizing your plans. Would you be willing to take a look at it?
OK, let’s say we wait two months, 61 days, before we put it on the market. Today is September 15th, and 61 days from today is November 15th.
According to the Multiple Listing Service, the average days on market is currently 42 days. That would mean it could take until December 27thto get an accepted offer.
What our Multiple Listing Service does not take into account is how many of those listings were on the market once or twice before selling in 42 days; and also those listings that were withdrawn or canceled; and those homes that were on the market by owner, did not sell, and then were listed with a broker. So to be accurate, we should add at least 50% “adjusted marketing time,” or 21 days. That would mean an accepted offer is more likely by January 17thof next year.
Then we have processing time. Usually it takes lenders up to another 45 days to process a loan and go through underwriting and close. That would be March 3rd to close.
And there’s possession time, which may be a week or so to physically move out. 7 more days to March 10th.
Finally, this will most likely not apply to you, but in some multiple offer negotiations, I’ve seen buyers offer sellers 30, 60 or even 90 days to stay in the property rent free before moving. That would mean you would be moving next June, and I know that doesn’t fit in with your plans to move right after the Holidays.
But, I think you can see that by waiting 61 days, it’s actually taking 176 days, or almost 6 months before you move. In fact, it looks like even if we start now, we might be cutting it close, right?
Tell you what. As long as you don’t have to wait, if you can see you’re clear to trusting me, my marketing plan, and my company’s proven systems for coordinating your sale, I am confident we can get you moved on time.
Let’s get the ball rolling, fair enough?
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