| In many cases in life, the rule of thumb
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| | bring 14% of all the activity your home
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| is "time is on our side". Selling real
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| | sees over the next eight weeks. Let's
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| estate in any part of the country is an
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| | assume, for a moment, that over the
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| exception to this rule. Not only is time
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| | course of eight weeks, 100 potential
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| not on our side; it actually plays
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| | buyers will see your home. Fourteen of
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| against the homeowner and their Agent
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| | these will see the home in the first
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| when they are trying to get their home
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| | week.
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| sold.
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| | Home Sales Activity Week #2
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| Depending on whether you're in a buyer's
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| | Week number two is the best, based on the
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| market, a seller's market, an
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| | activity generated for you home, with 28%
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| appreciating market, or depreciating
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| | of the eight week activity occurring in
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| market, many factors play against a
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| | this time frame.
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| homeowner whose goal is to sell their
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| | By this time, there have been Agents
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| home for the highest price in the
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| | through your home, and they are all aware
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| shortest amount of time. If that's not
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| | of what you have to offer their potential
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| your goal as a homeowner, perhaps you
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| | buyers. The advertising, which often has
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| should reconsider placing you home on the
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| | a time delay associated with it, is now
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| market. I'd be willing to bet, however,
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| | in full force.
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| that it is.
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| | The word is now officially out!
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| Time on Market vs. Activity
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| | Home Sales Activity Week #3
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| The amount of time a home is on the
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| | Week number three runs a close second to
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| market actually controls the amount of
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| | week number two with 23% of the buyer
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| activity the home will generate. The
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| | activity occurring during this time. By
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| bottom line is your property will attract
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| | this point in time, your home has
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| the most activity from prospective buyers
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| | officially seen 65% of the activity that
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| and real estate Agents when it first
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| | it's going to get in the first eight
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| appears on the market.
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| | weeks on the market.
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| This has been statistically proven over
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| | This is definitely not time to give up or
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| and over for decades, which is why it is
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| | change anything, but it certainly is a
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| so important to price your home at its
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| | time to consider where you're at.
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| fair market value from the get-go. If
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| | Home Sales Activity Week #4
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| you don't, you may be wasting your time
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| | The fourth week on the market is the
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| and all the activity your home sees in
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| | third best activity-wise . . . beating
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| the initial stages of being on the
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| | out week number one with 17% of the total
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| market. You see, over time, the market
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| | activity.
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| will actually communicate to you what it
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| | Considering that 82% of all the activity
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| thinks of the price you have placed on
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| | you will see has already occurred by this
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| the home. Seasoned Agents are more than
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| | time, it definitely warrants a discussion
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| familiar with this phenomenon, which is
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| | with your Agent about whether your price
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| why they start to get nervous after a
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| | is at or near fair market value. If your
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| home has been on the market for more than
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| | Agent is confident in your home's price,
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| four weeks. There's a distinctive drop
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| | perhaps it's time you review their
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| in activity around the four to five week
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| | marketing plan and make adjustments.
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| timeframe.
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| | Home Sales Activity Weeks #5 - 8
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| The showing activity will actually
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| | Week five, in a decent market, is often a
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| decrease as the market time increases.
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| | time to make course corrections (a price
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| It's a naturally occurring phenomenon
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| | reduction, for example). Consider that
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| that can be controlled if you price your
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| | 7% of the activity will happen in the 5th
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| home at fair market value right from the
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| | week, and by this point in time, you've
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| start.
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| | seen 89% of all the activity you're going
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| Home Sales Activity Week #1
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| | to see. It's definitely the right time
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| The first week your home is on the market
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| | to make a change.
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| is an exciting time full of activity.
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| | Also, note that weeks six through eight
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| Your Agent will begin to execute their
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| | see about 4% each. There's not a whole
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| marketing plan for you home, which can
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| | lot of activity left to occur for you
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| will include many of the following: print
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| | home in the last couple of weeks. The
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| advertising (postcards, newspaper ads,
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| | greatest opportunity of selling your home
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| flyers, etc), in-house marketing to
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| | is when it is a new listing. Once you hit
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| fellow Agents in their brokerage, local
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| | the six week timeframe, it's time to
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| board meeting announcements, Agent tours,
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| | start doing something differently. If you
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| open houses, and many others.
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| | don't make a change soon, you may miss
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| Believe it or not, the first week will
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| | the "My Home Sold" window of opportunity.
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