Your expectation as an agent is to reduce days on market and give the vendor a feeling of momentum inside the campaign. In today’s Coaching Tip, I’ll show you how to keep days on market short, and why days on market is such a critical component in your career.
The easiest way to reduce days on market is to set benchmarks, and I’ll give you some for the start of the campaign and through days 7, 14, 21 and 28. I’ll also share my 9/14 rule around managing appointments and offers for your existing stock.
Properties tend to be on the market for a long time in a declining market like we have now. I’ll explain peaks and troughs and give you the rules for what to do when things aren’t happening when they need to.
Vendors want to manage things emotionally. You need to be using logic to make the right decisions in a timely manner, to get the property sold at the best price. Reducing days on market means putting energy into those campaigns and keeping your confidence high for you and your vendors.