Timing a new listing
Timing a listing is important in ANY market. Buyers almost always ask “How long has it been on the market” and each day counts!
While I was in Rome, Natalie was busy here coordinating with the painter, handyman, and housecleaner for our new La Canada listing. We received the photos from the photographer last Tuesday evening, went into the Multiple Listing Service (MLS) Wednesday and had Pasadena’s Broker’s Open House on Thursday. The Broker’s Open House for La Canada is tomorrow. Ads have been placed on the Internet and in print. We have been on the market for five days.
The other new listing is in Glendale and has been simpler as the seller had less prep work from the stager and has coordinated these recommendations on her own. This home will go in the MLS tomorrow and then Broker’s Open House will be Wednesday. There will be an open house (to the public) on Sunday.
The best (public) open house is ALWAYS the weekend FOLLOWING the broker’s open house. The listing has been advertised, it has been “exposed”. This is also a convenience to the Realtor community; they can stay home on Sunday and send their clients to view the new listing and get paid if their buyer elects to purchase this listing (plenty of work will come later!).
Typically at an open house, most of the people that come, do so because they saw the signs and the unfortunate fact is that they know nothing about the home (not the price, not the number of bedrooms, NOTHING!!) they just stop because they see the sign. Ideally, there are also people that come to the open house because they saw the ad, these people know the specs of the home so they are a more likely potential buyer. Then there are the buyers that come because their Realtor sent them. These buyers are usually motivated (evidenced by the fact that they have a Realtor who is paid only by commission diligently trying to find them a home). Their Realtor has sent them to my open house because they think the buyer may like this home. Having the public open house following the broker’s open makes the most sense if the goal is to find a qualified buyer for the listing. If the goal is to “double end” the listing….. (Which means that the listing agent wants to sell it herself so she can get both “sides” of the commission) then it would make more sense to have the public open house prior to the broker’s open.
Posted by Phyllis Harb at 10/22/2007 8:12 AM 
Categories: All about Money, In a Realtor's Week, A Seller's Perspective
Categories: All about Money, In a Realtor's Week, A Seller's Perspective
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11/7/2008 7:53 AM
Los Angeles Real Estate Blog wrote:
I recently had an appointment with a potential home seller and one of his first statements was his belief that this is a terrible time to sell a home because potential home buyers can not obtain financing I am hearing versions of this misconception repeatedly and it is simply not true. Those with good credit and verifiable income continue to secure financing. Lenders are paying closer attention to qualifying borrowers and more documentation is required than previously. If you are in the market for a real estate loan, I have a list of lenders on my ... -
1/14/2009 5:32 PM
Los Angeles Real Estate Blog wrote:
We remain in the pre-listing stage. Day 3: 1/9/09: The owner contacted DWP and now there is an additional fee to have the power on today. Handy Fred tears out the old carpet and curtains, cleaning will require electricity; we wait. Days 4 -
1/26/2009 9:40 AM
Los Angeles Real Estate Blog wrote:
Many Angelenos are amazed that in certain neighborhoods, public schools are a way of life. Families flock to these neighborhoods and the communities are filled with children. George and I were fortunate to move to La Canada in 1993 during the last down turn. Our daughters have attended the local public schools since kindergarten. Many people move to the Foothills, because of award winning public schools, low crime and/or less traffic. Most first time home buyers who contact me, prefer to purchase 3 or more bedrooms, 2 or more bath homes. Depending on their ... -
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