They don't call it a pool of buyers for nothing

THEY DON’T CALL IT A “POOL OF BUYERS” FOR NOTHING.

A good analogy I like to use for sellers when they are placing their home on the market for the first time, is that of a swimming pool full of buyers. Some of those buyers have been swimming around for a long time and some are new. The point is, that there is an existing pool of buyers that will want to see your house as soon as it comes on the market---the ones that are currently looking.

Once this group of swimmers have seen your listing, and do not find it worthy of an offer, then your pool will only consist of the people that have already seen it and are waiting for you to lower your price, and the new “swimmers” that will jump in to the pool occasionally, as they enter the market of buying. Those new “swimmers” are fewer and farther between than the current existing pool you had at the beginning.

When a house first hits the market there is interest from all the people already in the pool, swimming around, looking for the right place. If it crosses their radar with one or two of the criteria they are looking for, i.e., price, location, size, etc., then they at least “look” at the house. These “pools” are either small, medium or large. The larger pools are the ones where “most” people swim. These are the pools of people looking for the less expensive homes/properties, because more people can afford less expensive homes. Depending on the listing there are either a lot or a few buyers in that pool.

As the buyers swim around their pool looking for properties, they either get out of the pool because they get out of the market, or they buy. New people are always jumping in to the pool as they enter into the buying market, or change from a pool they were in before and move to a different pool. But the additions to the pool are gradual, one here one there.

The best possible time to get a buyer is when you have that large pool swimming around at the beginning. Getting one of those "swimmers" that are currently looking to buy is your best chance of selling quickly. If you are willing to wait for the others “to come later” – then you’ll be waiting a while longer.