Frequently REALTORS will give you an average days-on-market (DOM) number in order for you to have some idea of how long it will take to sell your home. But before you get comfortable with that number, be sure to ask how they arrived at that number. If they didnt do it properly, their number may have little meaning and will give you unrealistic expectations. Knowing the real number might even make a difference in how you price or market your home. Ask your REALTOR' if in calculating their number, they took into consideration:
1. The number of homes that didnt sell the first time they were listed.
2. The number of homes that were listed but were withdrawn before being sold.
3. The number of homes that expired without ever being sold.
Using this information frequently creates a drastic adjustment to the actual DOM, so insist that you at least talk about it before moving forward with the sale process. This is especially crucial if a timely sale or maximum dollar for your home is important.
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