Avoid the 30-Day Trap: How Days on Market and Price Reductions Impact Your Home Sale | Rethink Real Estate S3 Ep. #90

Rethink Real Estate

Let's dive into the critical statistics and strategies affecting real estate pricing and days on market. Discover the key data points that indicate when a property might hit the 'point of no return' and the necessary actions after an initial price reduction to capture market attention effectively.

Ben discusses the profound impact of days on market on property perception and the percentage range for price reductions that statistically leads to a sale. This episode is rich with actionable advice, providing real estate professionals with the tools to navigate market fluctuations and optimize listing strategies for better sales outcomes.

Learn how to leverage the auction method as a superior alternative to traditional price reductions, aiming to enhance negotiation leverage and seller returns. Whether you're refining your approach to meet market demands or exploring innovative sales techniques, this episode is your guide to mastering the art of pricing in today's complex real estate landscape.

Timestamps & Key Topics:

00:00:00] - Overview of Today's Discussion on Market Statistics
[00:00:18] - Statistical Analysis of Days on Market and Price Reductions
[00:01:11] - Comparing Auction and Traditional Real Estate Processes
[00:01:54] - Importance of Time on Market and Initial Price Reductions
[00:02:33] - Discussing Leverage in Price Negotiations
[00:03:19] - Impact of Hitting 30 Days on Market
[00:04:01] - Statistics on Necessary Price Reductions for Market Attention
[00:05:31] - Trends in Price Reduction Timing Post-Covid
[00:06:05] - Correlation Between Price Reductions and Market Days
[00:07:12] - Auction Versus Traditional Selling in Achieving Better Outcomes

🔗 Related Resources Below:

🌐 For more information on Harcourts Auctions our non-distressed auction platform feel free to visit https://www.harcourtsauctions.com

🔗 Connect with Ben Brady and Harcourts Auctions: ⁣https://www.facebook.com/Benbradyharcourts⁣ ⁣https://www.linkedin.com/in/ben-brady-0b223517⁣ ⁣https://www.instagram.com/harcourtsauctions⁣ ⁣https://www.facebook.com/HarcourtsAuctions

Subscribe for more insights, and don't forget to like, follow, or subscribe on your preferred platform. Leave your thoughts or questions in the comments below to engage with us and our guest!