When someone is preparing to sell their home, there are a number of things they need to think about, prepare and do. One of those things is deciding “how long should we list our home?”

            There are a number of factors that may come into play in making this decision. Such as, what are the current market conditions? How long on average is it taking homes on my street to sell? Is my list price in line with other homes in my area? Does my home show at its best, or does it need some work? Is my home typical for my neighbourhood, or does it have unique features that may limit it’s marketability to a smaller group of buyers? Are there any locational factors that should be considered, like my proximity to hydro wires or commercial buildings or am I on a busy street, etc? Am I in a rural area where there maybe fewer sales?

            Depending on how many of the above factors or other factors that may have a direct effect on your home, it may be difficult to determine how long it will take to market and sell your home and thereby making the decision on how long should we list our home a bit of a challenge for both you and your Realtor.

            If you are unsure, talk to your Realtor. Ask them, how long do they think it will take to sell your home and why? If similar homes in your area are selling in an average of 30 days and your Realtor thinks it will take 90 days to sell your home, then, don’t be shy, it begs the question, why? But be open minded to their answers. They may feel your list price is too high, or your home may require a little maintenance to better compete with other listings. You need to know this information, so if you decide not to do anything about it and your home is still listed 90 days down the road and not sold, you won’t be surprised. Talking to your Realtor up front also gives you the opportunity to address any issues that may prolong the sale of your home.

            You should feel comfortable in having an open and objective conversation with your Realtor about how long to list your home. Signing a listing for 60 days (which is the minimum timeframe for a listing to be on the MLS system) when it will take 90 days to sell may not be accepting to the Realtor, as they will be spending their money marketing your home, but not have the time to find a buyer before the listing expires. Conversely if it should only take up to 60 days to sell your home, then signing a listing for 6 months, may not make sense to you.

            In the end the length of time you elect to list your home, should be win/win. It should be enough time in the Realtor’s mind to find a buyer for your home and it should not be excessive in your mind, where the listing period far exceeds the expected time it will take to sell your home.

            Statistics show, the longer it takes to sell your home, the less likely it will be for you to get your original asking price. So prepare your home and price it accurately and this should produce the best results.

Michael J. Wilson