36,545
Inna - My policy is to not accept any listing for less than six months. If it is a high end property, the listing will be for at least one year.
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Eric Kodner
La Pointe, WI
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Donald Reich
New Rochelle, NY
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Inna Ivchenko
Encino, CA
330,386
Typically 6 months. Higher end homes, over a million dollars, often need more time. I might be flexible on lower end homes, or homes that I know I can sell quickly.
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Inna Ivchenko
Encino, CA
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Eric Kodner
La Pointe, WI
1,622,432
Cindy Davis wow, you are just 2 hours from me and the housing market is so different.
Eric Kodner what a great explanation!
A listing agent usually spend a lot of money and time to market the property. I believe in Europe, sellers pay for all those expenses upfront.
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Eric Kodner
La Pointe, WI
1,622,432
Joan Cox , even the high end property are sold quick in your area of CO?
It reminds me the article I read about Menlo ( Silicon Valley), it is the most expensive zip code of the country and houses are sold fast. Everyone wants to live in that influential neighborhood.
I don't think, I know any area in L.A. country where high end property are sold in less than 3 months on average.
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Joan Cox
Denver, CO
5,583,278
we take a listing agreement for 90 to 120 days..... we price is properly or within reason, and it will sell or we drop the price long before it expires... if it's not priced properly, the market is not going to catch up with it...not in this market.... why would you want the listing for a longer period....self-torture!!!
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Inna Ivchenko
Encino, CA
582,106
We set a listing minimum of six months. If a seller won't agree to that term, I'd seriously question their intention of adhering to any deadline.
While I fully understand the "seller's point of view", I ask the seller to take a look from the broker's point of view. We spend time and money to get their property on the market, to stage and photograph the listing and to create specialized marketing materials. I suppose if a listing agent does the minimum required and does not put forth much effort up front, they might have less to lose. My experience has been that intelligent, thoughtful sellers understand that there is no free lunch in listing a property with an agent who makes an extra effort to properly market their fine home.
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Inna Ivchenko
Encino, CA
443,220
Sales are usually brisk in my market. I typically ask for 3 months. I find it is better to extend a listing, when needed.
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Inna Ivchenko
Encino, CA
4,572,439
Hi Inna --- for me it's typically six months but I've signed some in the past for a shorter time period. It would be rare in our market for a well-priced, well-presented home that was truly available to show not to sell within six months.
There are exceptions to every "rule" but this is generally true.
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Inna Ivchenko
Encino, CA
5,868,565
Great question, and in our strong Seller's market, even the luxury homes are going quickly. I have been taking only 3 month listings right now.
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Inna Ivchenko
Encino, CA
1,712,676
The norm is six months for existing, 12 months for new constuction. I have done shorter times on existing in special circumstances like when someone has financial trouble and need a quick sale.
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Inna Ivchenko
Encino, CA
1,661,936
3,340,443
No less than 6 months and we make sure the homeowner knows if they want to cancel at any time they may without penalty.
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Inna Ivchenko
Encino, CA
5,104,931
Typically, I ask for six months. In some situations, I've asked for an automatic extension of three months. But you need to adjust it to the market. I think too many sellers would balk at a 2-year listing up front, so I'd do one year with auto extensions. Obviously, you'd have to present them with the stats.
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Inna Ivchenko
Encino, CA
3,626,530
921,504
It depends on which of the 12 methods the seller chooses.
If they choose PLF the listing period will be 30 days after start of campaign.
No, I won't rely on extensions, I'll sell the house or pack up my contracts.
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Inna Ivchenko
Encino, CA
911,338
Case by case depending on the avg days of market for the area, and depending on condition of house, sellers willingness to negotiate, etc. Even if you get a 6 monet agreement, you can't always enforce it, and sellers have ways of canceling listing agreements.
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Inna Ivchenko
Encino, CA
38,609
Hi Inna;
You are right, high end properties take longer to sell...however, I try to look at the listing agreement from the seller's point of view, whether high end or a lower priced property.
They have just met me! To me, a year long listing agreement is like saying, "I know we've only just met and we don't know each other from Adam, but let's go get married right now and see how it goes..."
I tell my clients that they can cancel AT ANY TIME if they are dissatisfied with my services, so really, what good does attempting to tie them up for a year do?
Instead, I rely on the service I have provided during the six months and the relationship I've built with them to procure the extension.
Finally, at least in my market, the reason it often takes so long to sell a high end property is because it is horribly overpriced. If I am unable over six months to educate the sellers to the fact that their house cannot sell at this price, then why would I want that weight continually around my neck for another six months?
The way I see it, that first six month listing is the dating period, where we get to know and trust each other. If I find during that time that they are totally unreasonable in their expectations, then I wish them well at the end of the listing agreement.
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Inna Ivchenko
Encino, CA
4,800,082
6 months minimum, I prefer a year for the higher end as well as those that insist on their price.
5,104,931
Hi Inna... an automatic extension is not part of our listing agreement in NC. It's something we can write in in "other provisions" section, just as I might right in automatic price reductions at certain points.
1,622,432
Holleay Parcker - Spinnaker Realty - Serving Clients From Corolla to Hatteras it is true, it is a long time commitment for a 'blind date':)
Great comment! Thank you!
Nina Hollander I never usued autoextension and it is the first time I hear about them. Is it a part of your listing agreement in NC?
1,622,432
I usually take for 6 months too, regardless how fast they houses are selling. Sometimes, there are complications with funding or inspections/disclosures findings that can postpone the closing of escrow even if the offer received quite fast.