DOM in Real Estate Can Prevent You From Getting Top Dollar

Some sellers take it even one step further with the line of thinking that if their house sells fast they left money on the table. Folks this could not be further from the truth. It is the exact opposite. The days on market or DOM for short, are your enemy when selling a home.

One of the first things that most buyers ask a real estate agent when viewing homes is "how long as it been on the market?" Buyers ask this question with one thought in mind - how negotiable will the seller be? When a home is sitting on the market for a while, home buyers become embolden to make lower offers.

Think about it for a minute - if a home is sitting on the market and all the competition is getting scooped up like hot cakes what does it mean? Most of the time it means a home is overpriced for the current market.

In real estate time is your enemy. There is no other way to put it. As a seller, you need to be cognizant of the average days on market for a similar home. For example, if other like homes are taking 30 days to sell and your place has been on the market for 90 days already, there is likely to be a pricing issue.

It is possible there could be other issues as well such as the home not being staged properly or you being overly restrictive with showings. It could be a combination of problems.

Skilled real estate professionals are usually able to diagnose a home selling problem fairly quickly. When your home has passed the average day on market it is time to act. If you don't take steps to address the problem your DOM will continue to grow leading to a likely further list price to sale price ratio.

In the reference at Maximum Real Estate Exposure, you'll see an in-depth overview of days on market. You will get advice on what to do as a home seller with some tips on trimming DOM. Should you relist your property? Is a change in real estate agents necessary?

Should the property be taken off the market for a while and try again at some point in the future? These are some of the questions you'll see answered. If you have a friend of relative that has been trying to sell their house with no luck, have them look at the advice in the article.

The light bulb may finally go off and put them on the right track to getting their home sold in a timely fashion.