Special offer

SOLD the 1st Day on the Market ?! OH NO ! ! !

By
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker

SOLD the first day on the market..Oh WOW that must have been some sold homeagent with magical powers....or not...Not as we see it.  A listing agent is working for the Seller(s) of the property.  As agents...one of the advantages we all explain to prospective Sellers is through our marketing expertise. we reach the greatest number of potential buyers for a property.

  The first "Law" of any sales situation is that ALL sales are a "Numbers game." The more people you reach in a desired target buying audience...the more exposure you get...the more competition for the product or service or in this case ...House. 

   IF an agent does not prepare both the Sellers and the Buying publicMultiple offers....the Seller may well not get the best possible price. How can that be you say ?  Homes that sell more quickly sell for the best price...right ?  Yes....let's define "quickly."

   We write custom marketing plans for each property we list.  We believe in pricing a home for what it has...where it is...and the condition it is in...and not stretching the comparisons. Finishes from the basement to the kitchen and baths are important to Buyers...the flooring to the light fixtures...the furnace to the roof.  The comparison has to reach beyond the "square multiplefeet" (let's not go there) and location.  Many if not most, Buyers have Buyers Agents who will do the experienced "Home Work"with their buyers before crafting an offer. They know the features that are valued by Buyers and what they are willing to pay to own them. Buyers expect the mechanicals in a home to be in good shape ...or a warranty that covers them. They want the shiny new appliances, updated kitchen, rec room or bonus room and those priorities carry a price tag.

   So how DO you get the best price for a house ? Not on the first day or the second the sign hits the ground or the listing in MLS...we don't believe that.

  Instead....after the valuation...when the staging is complete...the professional photography taken...the PRE marketing and marketing plan in place...then the home goes on the market.  The listing in MLS has a mls...."Seller(s) will review any/all offers on X Date, All offers must be accompanied by a pre approval letter from a locally recognized lender." The "X date" is a couple days after...the premiere open house. It allows BOTH spouses to see the house, MORE people to see the house...the Pre approval to be increased to a higher price if necessary.  

.  SOLD the First Day ?  Not the Best Day....Your Sellers deserve the highest and best exposure.

    This has been a marketing post for the careful consideration of listing agents...and the Sellers who hire them brought to you by Sally K. & David L. Hanson, Broker Associates with EXP Realty honored to be of service for all things real estate in southeastern Wisconsin.

Posted by

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Sally K. & David L. Hanson (sally).... the one day on the market equates to a home that was priced properly and ready to market.... 

Feb 04, 2019 03:26 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

I don't disagree Barbara Todaro but don't believe without a couple extra days that you get the "highest and best price" letting other agents know of course that you already have X no. of offers in hand.

Feb 04, 2019 03:31 AM
Maria Gilda Racelis
Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington - Manchester, CT
Home Ownership is w/in Reach. We Make it Happen!

I agree with Barbara Todaro and Sally K. & David L. Hanson  as I have been through these best scenarios. Fantastic situation for my sellers. 

Feb 04, 2019 03:50 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

But you know Sally, sometimes the first offer on the first day is the best offer...it just happens sometimes. And, yes sometimes the multiple offer sitaution gets your the best and highest!

Feb 04, 2019 04:30 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Sally and David - that certainly is an interesting analysis and one that gives us something to think about.

Feb 04, 2019 05:08 AM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much for sharing some of your successful business practices and your advice.

Feb 04, 2019 05:25 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Sally. The best offer is the one accetable to the seller! Be it the first day or 100th day. Either way exposure is key to attracting the most qualified parties. Enjoy your day!

Feb 04, 2019 05:32 AM
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By Real - Alexandria, VA
Alexandria Virginia Homes For Sale

Sally and David, when offers are rolling in I think it's hard to have enough time to thoroughly review them and go over pros and cons with the sellers in a day. It's normally 2-3 even if offers came on the same day it hit the market. 

Feb 04, 2019 05:35 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

I agree Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400  the first can be best but if you set the rules of when the Seller will respond...you won't lose that opportunity and you may get more.

Feb 04, 2019 05:40 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I believe that the first day on the market can be the best, especially if multiple offers are received.  Every situation is different and as long as the home is priced properly and the first offer doesn't come in lower than that, I don't believe there is anything wrong with accepting it right away.  For me, a bird in hand is worth two in the bush, as there is no guarantee that a better offer will come along.

Feb 04, 2019 06:49 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Sally, when we were experiencing the frenzy of activity, we always had the home on the market for the full weekend before reviewing offers.   This ensured the Seller got the highest and best.

Feb 04, 2019 06:51 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

You lose no birds when you announce ahead of time that offers will be accepted on X...and we believe Brian England gives more encouragement to Buyers to write their Better/Best offer.

Fine minds think alike Joan Cox !

 

Feb 04, 2019 07:05 AM
Brian England

Well, we will have to agree to disagree, haha.  I have had buyers that didn't want to abide by such terms set by a seller and even though they loved the home and were willing to make a strong offer, they chose to move on.  Those sellers truly did lose out on those birds, haha.

Feb 04, 2019 08:40 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Good morning,  Sally and David - proper preparation by all involved and in every way imaginable and not even imaginable so why it's important to have you two on their "team". Congratulations on the transaction- in-the-making.

Feb 04, 2019 08:00 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Sally and David,  Write the best offer right away no matter what the market is like.  

Feb 04, 2019 08:17 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Preparation and pre-marketing bring the buyers in to facilitate a speedy sale, netting the sellers the highest and best price possible. 99% of the time, the first Offer in a multiple Offer situation (or not) is the best! It's not always just about the price but, the most qualified buyer AND the buyer whose agent takes the time to find out what is important to the SELLERS too! 

We've also lost buyers, letting them know that we have X number of Offer in-hand. Many simply don't want to compete, thinking they'll have to pay more than they want to pay. 

Feb 04, 2019 02:46 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Sally and David a one day sale should be amazing but I have come to expect that from the two of you

Feb 04, 2019 02:48 PM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

HI Sally K. & David L. Hanson - One of the things I tell a prospective seller is that I will start marketing your home as soon as there is a signed listing agreement. I do just that. I also prepare them for offers that may come quickly (which they often do).  Many sellers think that the pricing may have been to low if they get offers right away. Pricing it right makes all the difference because you can prove your case. 

Feb 04, 2019 05:29 PM