The Importance of the Offers That Come In During The First 14 Days of the Listing

Reblogger Jacquie Cliff
Real Estate Agent with Champions Real Estate Services - Lynnwood, WA

Buyers are few and far between right now, and as this post points out, that first offer might be the only offer for a while.  A HUGE part to selling a home right now is getting the price right.  If you don't have it in the right spot when that buyer comes through, it will be a long wait before the next one comes by!

Original content by Dave Halpern

The early offers in the first 14 days of the listing represent the pent up demand for that particular house style, neighborhood and price range.

Current Pent Up Demand vs. Future Buyers Trickling In.

There is a certain number of buyers currently in the market for your house. As soon as your house hits the market, those buyers and their Realtors quickly review your house, either by internet or by walking through the house. If the pent up demand rejects the house and its price, everyone has to wait for new buyers to trickle into the market.

Should I Accept The Early Offers or Wait For Something Better?

Too often sellers turn down the early offers and then wait months for a better offer that may never come.

If the house was listed in the winter, you may have a chance of a better offer in a few months when spring comes around.

But, if the house was listed in the summer and you turn down first offers, keep in mind that you may have to wait 8 months until the following spring for better offers. In today’s market, however, no one knows if 8 months later the prices will be up or down.

Consider The Early Offers With Eyes Wide Open

Conclusions:

Realtors and sellers need to very carefully consider the offers that come in right after the listing hits the market.

If the house is not moving, then the market is speaking with deafening silence. If the sellers need to sell, they must have an aggressive price reduction strategy.

 

Dave Halpern

Real Estate Broker, Louisville Short Sale Expert Realtors

(502) 664-7827

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Sellers looking for foreclosure help in Louisville, KY should call Dave Halpern, Realtor, Louisville Short Sale Expert Realtors, (502) 664-7827. I will dedicate to you all the time you need for a full explanation of the process. We are compassionate, caring and patient. I will listen to your needs and wishes and customize a strategy to meet your circumstances.

I will provide you detailed information about foreclosure options and short sales. We help dozens of sellers avoid foreclosure every single year in Louisville, Jefferson County, Oldham County, Bullitt County, Shelby County, Nelson County and Spencer County.

We can help. You have options. Call even if you think your house isn't sellable. Put an expert real estate agent on your side. Many testimonials available.

Dave also trains other Realtors how to perform successful short sales.

 

View Dave Halpern's profile on LinkedIndave_halpern twitterhalperndave_facebookDave Halpern QR CodeLouisville Foreclosure Realtors Dave Halpern

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Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

The first 14 days are a critical time for a new listing.  That's why we are so careful when establishing an initial list price for our Short Sale listings.  Too high - no interest.  Too low - a feeding frenzy and possibly a contract that the Sellers Lender will not approve.  We need to be "just right"!

Jan 17, 2011 01:26 AM #1
Rainmaker
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Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Thanks for the reblog. The more sellers realize this dynamic the easier it is to help them.

Jan 18, 2011 12:54 PM #2
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Rainer
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Jacquie Cliff

- Real Estate and Short Sale Expert
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