[Sellers] You're Officially Listed! What to Expect Next

DAYS ON MARKET

Days-on-market are measured from the day the property goes on the market until the day it closes.  Because we are a resort market with active winter and summer seasons and less-active shoulder seasons, days on market can be a year or more.  Days-on-market determine absorption rates and may help with pricing.  For example, the West End typically has 25+/- listings and approximately the same number of sales each year.  Thus days-on-market indicate a 1-year absorption rate.  If a property does not sell within the typical time for its location, it may be a price problem.

POTENTIAL BUYERS

With the internet, the buyer pool is global in the minds of real estate professionals and sellers.  However, the tendency is to overestimate the number of buyers for any one property.  This is particularly true if the property offers development opportunities.  Dealing with the Building and Zoning codes of Aspen and Pitkin County are a deterrent to many sophisticated real estate buyers.

SEQUENCE OF MARKETING

Photography; enter in MLS; place sign; Open houses; a series of initial showings.  Pay close attention to feedback on condition of property and pricing.  Now is the time to make adjustments if necessary.