How does your home or Real Estate professional stack up against the average?
You may say "what's the big deal?" and it may not be for you, but what would you rather have an average cup of coffee or a good cup? How about a great cup? I'm guessing you'd rather have good or great than average.
It's part of our industry that we track numbers. Sales data and listinginformation is vital to us helping home selelrs and buyers. Here are some averages you may not know based on data from the Central Alberta REALTORS® Association (CARA) MLS®, and are from residential sales and listings only:
The average Sale price for homes listed on CARA MLS® from January 1 to August 31, 2010 is $283,763.
With Sales to list price on average coming in at 94.7% of the original list price.
Meaning that the average list price so far has been $299,528 and the average sale price was $15,765 less at $284,763.
At first 5.3% may not seem that bad, you may have heard a friend of a friend was trying to sell their home and had to settle for less. While another guy you know through work sold his quick for a close to asking price. The above is the average. Unlike looking at weekly or monthly averages the above data was taken from January 1st to August 31, 2010 and includes all areas of our real estate board MLS®. That number is quite significant as there have been 8,008 listings this year and 2,410 sales processed during that time.
Let's restate that... "8,008 listings taken this year with 2,410 sales". Yes the sales number is quite low for 2010. In fact the board on average is only selling 30% of the listings taken. The importance of the REALTOR® and company you list your home with becomes quite significant if the average failure rate is 70%. I'd hate to be the person listing my home with the worst REALTOR® and company out ther. You know that below average one. In other circles you may refer to a player or team that loses 70% of their games as a bunch of losers. A great baeball player has a higher batting average or record than otehrs.
Just like baseball, a bad restaurant or movie I hate to say it but yes it's true their are bad real estate companies and agents out there. I hope yours is average or above average.
I'm biased about calling us a great real estate company and group of agents. However, we sell more of the houses we list than the average, we sell them quicker than the average, we sell them for more money as well.
How significant is 96.2% than 94.7%? 1.5% of the asking price on a $300,000 home is $4,500. That's an extra $4,500 in your pocket when you choose us than the average!
When selling your home go with above average. We'd welcome the opportunity to be above average for you.
By the way we're also in the top 21 for sales in Century 21 Canada. Thanks Century 21 for helping us be avove average.
Your friend in real estate,
You tweeted about this and other stuff, you can follow me it's not always about real estate sometimes I do interesting things sometimes not. @pgalesloot
I'm also the broker owner for our office, if you're an agent and want to be with other above average agents, give me a call 403-346-0021