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Updated almost 11 years ago,
Stat Geek type of question: What's a good list-to-sales price %?
Out of curiosity, I decided tonight to search the "stats" of a local Realtor b/c I wondered how her list price stacks up against the final sales price. By way of a brief background, another investor has brought me a few "deals" that I've had to pass on b/c my ARV always winds up far lower than his, w/his comps coming from this particular Realtor. But, me being the relative newbie in the equation, I wondered whether I was being too conservative.
So here's what I found: this person was the Listing Agent for 14 sales during the past year, for which the sales price averaged 85% of asking price. If I remove short sales from the equation - taking into account that the bank may set the price from their own BPO instead of the agent - then I have the sales price being 89% of asking price on 8 total properties.
So my question is: how does that stack up? If I remember correctly, @J Scott is in the range of 96%. What do you other flippers see for your results? What do you aim for (aside from the obvious answer of "100%, of course!!" haha).
I have also dived a little farther but won't bog down this question any more - I also checked how many of those listings were listed multiple times (expired or withdrawn, for example, and re-listed); and I also have Days on Market. But for now I'm wondering about the % ask price-to-sales price portion.
Thanks for any input!