Listing term
As a seller, when you list your home with an agent, you have to determine how long of a listing period you want on the listing contract. This is how long you are hiring the agent to sell your house.
Most agents will want a listing term of 60, 90, or 120 days. When the market was moving fast and properties were selling within a couple of weeks, The length of the listing did not matter because the house will almost certainly sell well before the listing period was over. But now that the market is slowing, it does not make sense as a seller or as an agent to list for less than 60 days.
The reason is it takes time to expose the house on the market and to find the right buyer. You may have many showing appointments as soon as the house is on the market, but remember the right buyer has to be READY, WILLING, and ABLE to buy the house. Not everyone who sees the house is a good buyer in that sense. The house may need to be marketed long enough to make sure as many potential buyers as possible have a chance to see it and consider it for purchase.
Some sellers are afraid to sign a long listing because they fear the agent will just sit on the listing and not work to get it sold. Then they are stuck with the agent. But remember, the agent does not get paid for listing a house. He/she only gets paid when it sells and closes. You can bet that he/she will make sure it sells as quickly as possible, even if the listing period is long. But sometimes no matter how good your agent is, the market condition is such that it just takes time to get the right buyer to make the offer.
If you are worried that you will be unhappy with the agent’s service and will get stuck with him/her for a long listing period, it is best to interview and choose another agent. You must choose an agent who you trust and like. It doesn’t make sense to go into a business relationship at the same time thinking that you will want to end that relationship as soon as possible. You should choose an agent with the confidence that he/she will do the best job possible.