Many sellers don’t realize just how important the first few weeks their home in on the market can be. The first impression of their home to potential buyers and Realtors representing those buyers must be a positive one!
Why is this time so essential? Realtors who are working with buyers don’t have the time to remember all the inventory on the market, and as new homes are listed they will get more attention than homes that have been on the market awhile and are at the point of dropping their prices, unless the prices are being dropped so low they’re a steal.
Also, the amount of time a home has been on a market is a large factor in the initial offer prices of potential buyers. The shorter the amount of time it’s on the market, the closer to asking price you’re more likely to get!
Your home is also competing with technology. In this high-tech world of instant communication potential buyers have the ability to have new homes on the market sent directly to their inboxes and cell phones. This only happens when the listing is new and if your home doesn’t catch attention at that point than you can lose your chance.
Lastly, those first few weeks when a for sale sign goes up in a neighborhood, it creates a buzz. Neighbors are talking and tell friends and relatives, they call their own agents, open houses are busy and full of people, and when this buzz is going there is a lot of opportunity to get a buyer quickly if you’re prepared. If you wait a few weeks the activity drops off to a fraction!
You can avoid this mistake by being properly prepared and understanding the importance of this time. Your agent should have very specific plans for when your home goes on the market to capitalize on that time!