How Many Appointments Are Necessary to Sell Your Home? Find Out Here.
David Bates / February 14, 2011-9:11 pm
There is a key real estate statistic — one which never has been reported on, that can be both a predictor of the future success of an individual listing as well as the future success of the market as a whole. That statistic concerns how many showing appointments that either the listing individually or the market as a whole are generating. The company MAPASS (pronounced M-A-PASS) is perhaps the only company that can accurately aggregate and analyze the data to demonstrate their significance.
Starting in 2003, MAPASS began implementing a showing appointment scheduling system focused on the real estate industry. Using the latest telephone, Internet and software technologies, the company recorded and processed agent requests for home showings. In 2010, MAPASS helped Massachusetts agents coordinate hundreds of thousands of successful showings, perhaps as many as 600,000. And while real estate sales data are widely disseminated as an indication of the health and direction of the market, “appointment” data maybe be a better predictor of the future because appointments are a precursor to sales.
Walid Saba, the president of MAPASS, informed me that appointment volume is bell-shaped along the calendar year, starting at a low point in the beginning of January, generally peaking in April or May, and then diminishing until the end of December. Mr. Saba says that fluctuations in appointment volume can often be reflected three to six months later in changes in sales volume. As a result, Mr. Saba’s firm might the first to feel a change — good or bad — in the market.
While more showings leads to more sales in the market at large, the same is apparently true with individual property listings. Although some home owners would like to believe a rogue buyer will show up and buy their home, MAPASS statistics show that homes that sell generally attract many more appointments than homes that fail to sell. Like adding heat to popcorn, cranking up showings on a listing will eventually make something happen.
As for how many showings it takes to sell a home in the Greater Boston market, Walid informed me that in 2010 on average it took 13 showings to sell a home (Note: MAPASS provided service in more than 16,000 Massachusetts home sales). a significant improvement compared to 2009, when it took on average 17 showings. But I say if a seller or an agent really wants to get the home sold, they should consider using MAPASS to coordinate the appointments, as a 2010 press release for the company indicated that MAPASS listings had a 20 percent higher success rate than non-MAPASS MLS listings.