2017 Hunter Rowe Performance Statistics
*** See table below for statistics for all listings sold by Hunter Rowe Real Estate for all years ***
January 1, 2017-December 31, 2017
1. MLS has specific rules for how “DOM” (Days-On-Market) is measured, and these rules are important to understand when deciding which firm to choose to sell your home. We believe the best way to serve consumers and clients is to provide detailed information to ensure correct understanding of the statistics. Specifically, there are two types of home sale circumstances (described below) for which MLS has established special rules. All Triangle real estate firms are required to follow the same rules and are measured the same way, allowing an “apples to apples” comparison. You can decide for yourself how to account for these types of sales when choosing a real estate firm to sell your home:
(a) We give our sellers advice about how to prepare their homes for maximum price and minimum Days-On-Market before listing them on MLS. While this work is being done, we do our best to market the home with a yard sign, to agents at other firms, as well as to our own buyer clients. MLS does not count this “During Preparation” marketing time as “days-on-market”. Although MLS provides no official explanation of their reasoning, logic suggests (a) the home is not prepared for market, (b) pictures are not available, and (c) the home did not have the benefit of MLS exposure, which is recognized as the single most effective method for marketing properties. In 2017 we sold 45 of our listings (19%) while the property was being upgraded or otherwise prepared for sale. MLS reported these sales as “zero days on market.” These homes are marked with a “DP” (“During Preparation”) in the table below. Click here to learn more.
(b) Our listing agreement is only 60 days, and we expect to get the job done during that time. In rare cases we are not able to sell the home on the first effort, either because the seller was not ready to accept our advice about preparation and price the first time, or because we are not perfect and we may have gotten it wrong! Depending on the situation (normally when we are close to the 60-day mark), we advise the seller to remove the home from MLS for 30 days. This is because after 30 days, MLS considers it a new listing and restarts the clock to “zero days on market”. Again, MLS provides no official explanation, but logic suggests that the 30 day wait is a sufficient “penalty”, and this gives our sellers a “fresh start.” We strongly advise our agents not to do this unless the seller agrees to make significant adjustments to preparation and/or price, so that in a real sense it IS a “new product” on the market. In these cases, MLS also uses the new listing price for the “%SP/LP” and “%SP/OLP” statistics. In 2017, this occurred in 18 of our listings (8%). These properties are marked with a “2x” or “3x+” in the table below, indicating number of times listed in MLS before sale.
2. Sale Price v. Original List Price (%SP/OLP) demonstrates a firm’s ability to deliver on the promise made at the time the listing agreement was signed. In 2017 our ratio was 2.2% better than the market average, which would mean $8,800 more to the seller of a $400,000 home.
3. Sale Price v. List Price (%SP/LP) is a standard but unhelpful market statistic, because the list price may have been reduced several times before the sale.
4.Click here to see the source of the Market Average statistics.
See below for the unedited MLS statistics for every home ever listed and sold by Hunter Rowe Real Estate (SP/OLP not available for individual listings before 2015):
We do our best to make sure every number and every statistic on this site is absolutely accurate, but this page presents a tremendous amount of data and it is a challenge to manually verify all of it. We therefore disclose that there may be an error somewhere about which we are unaware. If you find one before we find it, please contact us and we will address it ASAP. Thank you!