A recent sales success analysis of BuySelf Realty sellers compared with the overall Realtor/MLS average for Southwest Ohio/the Cincinnati metro area during 2010. BuySelf Realty sellers were 10% more likely to be successful selling then the typical Realtor MLS listing.
In addition, BuySelf Realty sellers received a higher percentage of their listing price–on average 96% of their list price, whereas the MLS average was 94%. The higher sales price was not a surprise as the 2005 best selling book “Freakonomics” documented that agent represented sellers received lower sales prices because agents are motivated to push their sellers to accept the first offer rather than wait for/negotiate a better offer.
For the mix of listings, generally the higher priced the listing, the longer the average market time and lower success rate. BuySelf Realty’s listings averaged significantly higher price of $223,455, so normally one would expect a success rate lower than the MLS average $154,094 listing. Lower priced listings typically have many more possible buyers for the listings, and a more active marketplace. BuySelf Realty’s success occurred in higher priced listing category where typically results are poorer than average.
