The “5-Day Listing Rule” Every REALTOR Must Know If You Want To Get Top Dollar

Question: how fast do you pivot on price when you list a property?

Sometimes we get it right, and sometimes even the best of us get it wrong. When we get it wrong and don’t pivot quickly, we risk missing the opportunity to sell the property for top dollar.

So, how fast do you pivot? Do you wait two weeks, three weeks, a month, two months? Are you setting that expectation upfront with the seller?

Here’s a study from ShowingTime. They’re integrated with many MLSs across the country and help schedule showings. Because of that, they have their finger on the pulse of showing activity.

Their study, based on tens of thousands of showings, shows that after the first five days, showings plummet on most listings.

Why? Because when a listing hits the market, all eyes are on it. Most buyers—probably 95% to 99%—are set up on portals like Realtor.com, Zillow, or your website. When that listing hits the MLS, the entire backlog of active buyers sees it almost immediately.

Hundreds of buyers look at the home and decide whether or not to schedule a showing. If they’re interested, they come out. This is why properties that sell quickly and for top dollar usually do so in those first few days: There’s intense competition, and buyers know it’s a race.

After those first five days, showing activity drops off sharply. Why? Because that initial pool of buyers has already seen it. What’s left is just the trickle of new buyers entering the market, and that’s a much smaller group.

That’s why the highest prices are typically achieved in the first 30 days. In the next 30-day window, activity drops. By 60 to 90 days, it drops again—and so does the price. The longer a property sits on the market, the less money it tends to sell for. That’s statistically true across the country.

When we talk to our sellers, we need to set that expectation. Here's what we say:

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“When we put your home on the market, one of two things is going to happen:

1. We get a lot of showings, which means the price is right. Showings lead to offers.
2. We don't get many showings or any offers, which may signal the price is off.

If we don’t get an offer within the first five days, that’s usually a sign that something needs to change.

At that point, I recommend we quickly pivot and reposition the listing. That might involve a price adjustment, or it could be addressing condition issues we’re hearing in feedback. We’ll have a conversation, and you’ll decide—you’re in the driver’s seat. I'm here to consult and offer guidance.

Just be aware: those first five days are critical. That’s when we want to see strong activity and, ideally, an offer. It won’t always happen in that window, but we want to stay alert and make sure we’re maximizing exposure.”

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These are the kinds of conversations we need to have with sellers. They’re important, and when done well, sellers appreciate it. They’ll think, “This is an expert. This is why I hired them.”
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