When the Home Sells Quickly, Don't Second Guess It

Well done, Debbie. It’s almost a contradiction in that sellers often say they want to sell quickly but when that happens question the pricing. It’s a pretty rare seller whose goal is to take along time to sell and at a price lower than they are asking.

Jeff

This is great advice. Never second guess the deal and don't second guess yourself. Thanks for sharing!

I submitted an offer on a property on mkt one day. Seller and his agent decides to use my offer as bait to bring offers in over the next 72 hours. We are beyond upset and seller will be learning we are withdrawing. He was unable to lure other offer btw

I cover this information with my sellers when I am doing the initial market analysis.  Great points Debbie Reynolds ... I have noticed in the last few weeks the market is starting to slow a bit.  Will be interesting to see what happens for the rest of 2017.

Im sure I am not along in saying that bitterness between people arose out of a prime buyer coming quickly. Really, no amount of reasoning could convince a seller that it went quickly because it was the right product at the right time and place.

Since the beginning of time, sellers have believed that agents push for a low listing price in order to make a fast buck. Unfortunately, some agents did just that and it didnt take too many to severely damage the industry. When a deal happens quickly, everyone starts doubting and blaming, even to the point sometimes of firing an agent or temporarily removing the property from the market. Sellers (even when they are also agents) just cannot be satisfied unless there is a prolonged marketing period pocked by a series of low offers and protracted negotiations. A common seller hates to leave even $1 on the table and they attempt to accomplish this by pricing it too high: "we can always come down."

As a listing agent I too have had those doubts. A buyer comes the same day and I begin to doubt that the price was valid. I go back on my research and look for any evidence I priced it too low. But I didnt find it, the figures are correct, there is nothing to support a higher price.

Lets not talk luck and phantoms. Truth is, in an up OR down market,  if you have done your homework well and the principal trusts you, then the occurence of a fast deal means to me that things went exactly as they should and thats where it has to stay--though fighting may be on the menu regardless. Stand up for yourself and the industry and the deal and the principles of buyers, sellers, supply, demand. Dont waiver, dont doubt. You did things right and the proof is on the signature line. Celebrate and get on to the next task.

Human nature is a tough thing to overcome, so just keep trying!

Always a message that needs repeating. 

Great advice, thank for sharing. 

Almost too good! Thanks for the reminders. Why doesn't it always work that way in lending? 😜

It's natural to think you underpriced if it sells too fast. I love your post reassuring sellers that they should not second guess it and just be happy it sold and they can move on!

price right and ready to sell.  I always tell my sellers that my goal is for it to sell quickly.  If that aren't ready to sell then let's wait to put it on the market.

Hi Debbie - very good article.  Most of our listings sell within days so we prepare the sellers to expect this to happen and that it's a good 'problem' to have!

At a recent listing when the stagers move in furniture, I got a verbal offer. They say this is exactly what they were looking for no need for paying a stager.  Next day, I got an offer urging me to take it as pre-emptive offer. Having spent two months on remodeling making sure everything is flawless I waited. I handled out 57 flyers first day at OH and second day it appeared to be same people coming back counting steps etc. I started getting offers from others. It took about 4 offers before I can match 1st offer but we countered back just a few selective ones. It blew up past sold price.  If this was in better school it could go like some homes you hear on TV.  For rentals I often take the first candidate who show strong interest and ready. For homes I still need to earn my dough.  

So true Debbie!  I've actually had potential sellers that the house is priced too low if it sells fast.  Yet if a house sits on the market for a week, the sellers wonder--why hasn't it sold, it's a hot market!!  

So true Debbie. A Seller is quick to respond this way, but reminding them of pricing a home right to sell helps them compensate for a quick sale.  And I agree about over-thinking things, too.  An agent can easily think that way, too.

Hi Debbie Reynolds - If we do our job right during the positioning phase of the listing presentation, we should have few if any questions on a quick sale. Great info to get out there for sellers. 

 "Serious offers need to be treated seriously." - !!
Perfect quote Debbie Reynolds and great blog post.  Thank you!

We sold our listing for full price in a week, however, the seller didn't accept the offer, thought that the property would sell for more than what we listed. 90 days later and continuing to pay the mortgage payments, we managed to sell for the original listing price. Had seller accepted the original offer, he would have saved over $10k because of the mortgage payments, so, define the expectations and trigger actions to close prior to listing. Great post.

Good morning, Debbie Reynolds listing agents should never second guess the job well done by pricing a home properly.....that's the goal... sell it for fair market value and quickly....