In this video, broker‑owner Sander Scott challenges the common real‑estate mantra that a home’s days on market (DOM) must be minimized. Citing the Freakonomics study, he explains that agents tend to price homes aggressively for clients but are more patient when selling their own, staying on the market about ten days longer and achieving roughly 4 % higher sale prices. Scott argues that this discrepancy reveals a conflict of interest: fast sales benefit agents and brokerages, not necessarily sellers. He outlines a decision framework for homeowners, urging them to consider their personal timeline, the uniqueness of their property, current market competition, and the quality of presentation (staging, photography, video). He stresses that pricing and DOM are intertwined and that both over‑ and under‑pricing can be harmful. Rather than offering one‑size‑fits‑all advice, he promotes a tailored strategy—sometimes embracing patience to capture higher value. The video concludes with an invitation to book a personalized consultation to develop a customized selling plan.
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Real estate agents who sold their own homes behaved differently than when they sold homes for their clients. Bestselling book, Freakonomics. And if you're not familiar with this book, it's a partnership of a journalist and an economist. And the economist ran lots of data to come up with these conclusions. And after running that data on this particular question, he observed— here's what most agents and brokerages teach. They teach that the longer your home sits on the market, the more potential buyers start thinking something is wrong. So most agents really try to chisel their sellers down on their initial asking price right out of the gate. Then they'll follow up with advocating for price drops quickly to try to get an offer fast. And so you really have to think, why is that? Is that actually in the best interests of the seller? Or perhaps does that advice better serve the realtor and the brokerage to the expense of the seller? Well, that's precisely the question posed by the authors of the bestselling book Freakonomics. And if you're not familiar with this book, it's a partnership of a journalist and an economist. And the economist ran lots of data to come up with these conclusions. And after running that data on this particular question, He observed that real estate agents who sold their own homes behaved differently than when they sold homes for their clients. So when they sold their own homes, they left their own homes on the market longer, almost 10 days on average longer than when they sold homes for their clients. And they gleaned about 4% more for their own homes than they did for their clients. So what gives? If the advice most often given by realtors that the worst mistake a seller can make is to overprice their home and that days on market are the enemy to every seller, then how do you explain what the authors of Freakonomics found? So the truth is that patience and strategy, not speed alone, can produce better results. And the data bear that out. Back to the example from the book. Freakonomics. If you price your home too low or push for a quick offer, you may get a deal fast, but at what cost? As someone who's a 6th generation Leon County local, owner of my own brokerage, and someone who's worked with many homeowners and sellers all across Northern Michigan, I've seen exactly this scenario play out. Waterfront, high-end or horse properties or unique homes often require more time. They require more showings, tighter comps, and a more discerning buyer. So before you push to get that home sold really fast, here are some questions to ask yourself so that you can decide whether shorter or longer days on market might work in your favor. What's your timeline? Do you need to move by a certain date or can you wait for offers? For example, are you in a situation where you're in a job change, you're moving out of state, you need to sell this home because you can't carry both a mortgage on your existing home and purchase a home in the new city that you're moving to. That's a totally different scenario than if you are downsizing and going to stay within the same city that you're living in a 5-bedroom, 3-bath house, but now the kids are out of the house. And you want to downsize. That's a different scenario, which requires a different strategy. All right. Other questions to ask: How unique or premium is your property? Homes with special features, waterfront homes, horse properties, homes with really high-end finishes or views, those often would benefit from a little more patience and a little bit more accumulation of days on market. Another thing to consider is how's the competition in your market right now? Buyer demand, supply of homes, how much inventory is available, what the interest rates are, and how many homes like yours are on the market. For example, one thing to look for is your home may not be unique in its features, but it may be the only one in your area for sale right now. Where there's a hole in the market is what we call it, where you're the only home that's available within a certain neighborhood. But that's a key thing to consider. How serious are you about presentations? Homes that show well, are marketed well, that are well staged, well photographed, they have good video, that the presentation is thoughtfully done by your realtor. They tend to do better even if they stay on the market longer. If you haven't seen my first video on pricing strategy and why the overpricing myth might be holding you back. I'd suggest watching that after this one because days on market and pricing are absolutely tied together. You see, the key thing about that mental anchor piece that is really, really key. That's why it's just as dangerous, if not more dangerous, to underprice your home than to overprice it. So you're really looking, as I referred to in the previous video, that Goldilocks effect. There really should be no standard advice given to home sellers because your situation is unique. And that's why it's really important for you to find a trusted realtor and to have a consultation. So here's what I can offer you: a consultation where we look at your home, your timeline, your goals, and what your situation is. And we build a strategy that might embrace a little patience if it means higher value. It may not. Again, it depends on your situation. If you're feeling pressure, maybe you've been told you need to get it sold quick. Let's talk and see if you really do. You might actually benefit from waiting a little bit and being a little bit more patient in the market. Click the link below and book a time with me. Let's figure out what's best for your situation and not what may actually serve that brokerage's interests or that individual realtor's interest at the of your interests. Okay, we're going to put your interest first. I'm Sander Scott, broker-owner here in Leon County, Traverse City area. Thanks for spending this time thinking differently with me. If you want to sell wisely, maximize value, and not just sell fast, I'd love to be your partner in that. See you in the next video.
