On average how long does a real estate agent spend selling a house?

Question

Not how long the house is on the market...but actual time(hours) RE agent spends selling the house.

Answer 1

This will depend on the existing marketing system the particular agent already has set up. If their marketing system needs improvement or more exposure for their listings then this will add additional time spent for each listing. Since we're in a market where it's taking a longer time for a home to sell this too will add more time spent in selling a home. More local/traditional advertisement, more local/national Internet advertisement, and more scheduled open house (to bring more neighborhood awareness). I'd say to start it off it can take a minimum of 30 hours and go up from there.

Answer 2

That depends on the dedication of each agent. I know one agent that spends every waking moment following leads to potential buyers for the homes and properties the agency he works for has listed. He works just as diligently finding people who want to sell their properties to sell himself to them as their agent, so he will always have something to show to potential buyers.

He also learns all he can about each property he represents so he can be ready with an answer to just about any possible question about the house, the neighborhood, the city, the county and the state - as if he had lived there himself - for most of his life. He'll quote the exact distance in miles to the nearest bank, restaraunt, gas station and knows all the roads in the area - and where they lead.

By the time he is ready to show a house, he knows the history of the property for the last 50 years - what kind of soil it is sitting on and if it has EVER been in a flood prone area, etc.

Much depends on the buyer or potential buyer, too. Some people really don't know what they are looking for and may spend more time looking at a property, trying to envision it as theirs or if they want to see it a second or third time to compare notes with other properties they've looked at.

Generally, when an agent shows a house, the amount of time in the house is less than 45 minutes. Some times less than 15 minutes. But you have to also figure in the amount of time the agent spends on the phone or in the office with the potential buyer and how much time he spent researching the property beyond what you were able to offer.

There is much more involved than just showing a house. He also has to ascertain if the buyer is qualified for a loan, can get an adequate loan and when the buyer wants to arrange for a closing. That could takes days or weeks - even months.

A good agent won't wait on one buyer to make financial arrangements. He/she works for you, not the buyer. If another interested person comes along, he's gonna sell it to the first person with the money. A responsible buyer will have his ducks in a row and be ready with cash in his hand because a good agent is ready to sell your property with so little as a nod of the buyer's head.

Answer 3

It depends on a lot of things. In this market, you want to be working with buyers, because there are a lot of houses on the market, so listing isn't as easy as when the inventory is small. If you have friends who are looking to buy, or belong to a church or other group where people might want to buy, then selling a house isn't hard. What happens is that when there's a lot to choose from, sellers get picky. So you have listen to what they want, find it for them, and see what they do. If they change their perameters more than once, they may not be serious buyers.
Sometimes it goes really quickly, sometimes it can take several months.
If you're a new agent starting out, good luck. 90% of all new agents drop out by the end of the first year. Hope you're one who succeeds!

Answer 4

It will vary, best way to look at it is how much advertising has the agent spent to get the word out of your house for sell?

Then hours an agent will spend will be based on the incoming calls to agent or the agent agency. In general the people need to call the selling agent to work the deal, thus getting the word out to get the calls to come in.

Open houses are usually a waste of time, hardly ever get a deal for the house, but at same time it's cheap for agent and gives the impression to seller that you are marketing, but cheap better time and monies spent on advertising in local and state wide papers as well as like homes and land

Answer 5

I artwork in an assets business enterprise and that i often think of i might want to have a go at merchandising my own homestead while the time is composed of circulate. yet there is a lot to think approximately - enormously with those HIPs packs coming in this 365 days. additionally, the valuables agent is greater effective placed to qualify your potential purchaser, you as somebody won't have the means to study his financial credentials or talk to his solicitor, so that's in all probability ultimate to get an agent in. Tivodan - 6% value from an agent to sell your place? You have been robbed. We fee one million% +vat!!

Answer 6

I'm afraid that since it's a buyer's market nationwide right now, the average time it takes for an agent to sell your house has substantially increased.

If you don't have to sell now, don't!

Answer 7

A house is a high priced item. It could be days, to months.