LandInvestors.com Forums **Ask A Question** How important are days on market?

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    Frank Malvagna
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    Post count: 9

    I’ve been researching counties for my first RVL mailer and have found several where there are no other wholesalers but retail listings show high days on market. (active Realtor/Zillow listings for 200-500+ days) Most of these counties are also unavailable on Realtor or Redfin spreadsheets. Should I steer clear of those counties or not worry about it, since wholesale properties should sell more quickly? What is an ideal DOM range in that case?

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  • Jannette & Robert Jackson
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    Post count: 32
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    Frank, Days On Market is VERY important, because that is the number of days you can expect to be sitting on your property before you sell it and make your money. Optimally, you’d want 90 days or less…that’s 3 months to put your property on the market and sell it. Of course, your preferred DOM depends on your budget and comfort level. Land Academy’s model is to buy at the right price, so you can sell cheap and fast. Then start the process again… 200+days seems like a long time to wait. In that time you could have completed 3 rounds of deals. Hope that helps.

    Frank Malvagna
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    Post count: 9
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    Thank you. That makes perfect sense. So even though there are no wholesale properties listed and there is no wholesale competition, I would still use the realtor/retail DOM as a gauge?

    Luke Smith
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    Post count: 1280
    ProAdvanced

    Another stat I like to look at is the zillow view count on the listings that are out there. Is it like 5 a day? 5 a week or 5 a year views. Some of the places wish shorter DOM have over 100 views a day on the listings in Zillow.

    Then if you sort the listings by newest first there are dates there to see if there is one a day or a week or month or every three months.

    Then switch itoverto sold and count that too.

    Just looking at one market (I break it down to size and useability too in the more active markets) does not tell you anything. Look at alternatives. Look at more of them.

    Do you really want to be selling land in a place with no shoppers? No action. No business. I’m sure you can make it work but it doesn’t have to be that hard.

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