3 month Contract?

**kosmo** · 11-07-2008, 10:17 AM

I purchased a house about 2 years ago, i probably put $15k in to upgrades... and with teh drop in value in the area, i think i can sell it for about the same as i purchased it ($240k).

I have a baby on the way (due in march) and dont want to be moving or showing the house during that time. Im eihther going to sell and buy another house and set up nursery there or not sell it and settle in for a couple more years. but the decision will be made one way or teh other by feb.

how common are 3 month listings? do you feel there are any advantages? (puts a little pressure on the listing agent) or disadvantages?

**Mike Taylor** · 11-08-2008, 03:43 AM

I think you will be able to find someone to do a 3 month listing, however I think the biggest disadvantage you are looking at is going to be commitment. If you are only going to give an agent 3 months to sell a house in these market conditions, how much effort and/or money do you think this agent can afford to put into marketing your home?

**minnesota-mls** · 11-08-2008, 09:53 AM

You will certainly be able to find someone to do a three month listing for you.

Here in Minnesota, we provide our sellers with an "Easy exit" listing. They can basically cancel the listing at any point in time. This puts us on the spot and really forces us to do our best for each of our sellers at all times.

However, I'm not sure what the average market time in your area is. Three months may not be enough time. Here in Minneapolis, our average market time for a home for sale is 5 months.

I hope this helps!

**Mario J.** · 11-12-2008, 01:50 PM

It's tough to do a 3 month listing this time of year.

Best time to sell is always in the Spring which is the time you do not want to be moving.

If you do a 3 month listing then you will be pressured to price your house aggressively in order to sell.

Thanks,

Mario Jannatpour

**rtibbs4** · 12-01-2008, 10:11 AM

Here in MA a 3 month listing would not have been a problem a couple years ago but it is more difficult now. You won't have a problem getting a broker to do three months if there is a possibility for an extension but if it is a fixed three months you may get a drop off in services and attention as the three month deadline nears.

**100kRealEstateCoach** · 12-01-2008, 11:53 AM

If you're home is agressively priced, a 3 months listing can sell. However, in most parts of the country it's taking twice that amount of time to sell a home. Realtors know this statistic very well and are usually willing to put more marketing efforts into homes that have a higher probability of closing. Hope this helps. Good luck.

**Codythebest** · 12-01-2008, 02:16 PM

I agree with all of the above posts.
Instead, make a 12 months listing agreement with the right to cancel at anytime...

**Malok** · 12-10-2008, 11:39 AM

/agree with others comments

A lot of real estate markets are taking much longer to get things sold.

Add in the holidays, and typically - things are slow this time of year.

Will you be able to find someone that is able to fog a mirror to take a 3 month listing? Sure, absolutely.

But your level of commitment to them - is likely to be the same level of commitment they are willing to give back.

**gelokron** · 12-11-2008, 05:33 PM

Every house that I list with a Realtor I never do anything longer than 3 months. it shouldn't take longer if the realtor is doing there job. Yea the market is tough right now but if your house is staged, your priced right, and you get a could realtor with not to much on their plate you should be fine.

Real estate is local in nature so it also depends on the average DOM in your area. Put still always get that 3 months, if an agent tells me they need more than 3 months it tells me that there not confident they can even sell it in 3 months.

I would also suggest offering some kind of seller concessions or owner financing(if your in position to do so).

**lindabassitt** · 12-23-2008, 07:40 AM

Some will do it for 3 months............ But will they do it right? Spend money marketing your property as if it were a regular listing? Probably not.

You need to do your homework and chose an agent that will MARKET your property. I chose real estate as a career, not just someone with a high school diploma. I have a Bachelor's in Business Admin/ Marketing. I use the skills I learned in school to market my clients property.

But what consumers need to understand is that there are multiple factors going into a house sale. I.E. If conditions of the market demand a certain price range and you, the homeowner does not want to price the home realistically, as an agent I can only push for a property short of holding a gun to a buyers head. Thats what homeowners don't understand. They tend to think that their home is a gem in the rough; when in reality in this information age it is one amongst hundreds in your area, all competing against your home.

You can hurry your agent all you want, but if the demand is just not there you better hope that your agent is a magician.

I wish you all the best and remember to do your homework in picking a good agent, it's not always the popular ones who bs their way around town that make the deals close.