The Truth About My Marketing
Normally the 3rd week of the month I talk about a specific area in the vast & beautiful Lewis County, but I wanted to discuss something a little more relevant that has cropped up from time to time. Part of my marketing package mentions that I sell homes at least 2.5% higher in half as much time as the market average. That bold statement is what I want to address here.
Before we get too much further, let me be clear.
My marketing statements are 100% legitimate and accurate.
Now, don’t take my word for it, let’s delve into the numbers.
Cumulative Days On Market
This one is extremely simple. The market average has dropped to about 35 days. This means if your home is on the market longer than that, there is a problem. The majority of my listings are sold within 1 week and have multiple offers. The longer a home is on the market, the less likely it is to sell for full price. Most sellers want their home to sell as quickly as possible!
I can’t fit many more data points, or I would show you every other agent as well. Most of them going along with the average (purple line), with some going longer than the average. These are rolling averages of the last twelve months, so shows me right at 12 days. What changed to separate me from the average? Market knowledge, analytics, and positioning!
Average Sales Price to List Price
This one is a little bit trickier. The numbers can be fudged some because the stats only show percentage of LAST list price. That means if you’ve had to reduce the price, they take that number into account rather than your ORIGINAL list price. That said, my number is accurate because my listings sell so fast that I never have to reduce the price (unless it is negotiated in lieu of repairs). Take a look at the chart below.
Impressive, right? Well, not to some. The statement made by others here is that I list properties at too low of a price, which is why they sell fast and go for over asking. Here is why they’re wrong.
Here again, I am way above market average, by about $17 / foot. That’s over $25,000 EXTRA on a 1500 sq ft home! Again, I could show you the other agents’ in the county’s stats but none are higher.
What is the takeaway here? I sell my client’s properties faster, for more money, and more per square foot than the market average and my fellow top agents.