What sellers want, and most agents promise, is some version of:
The highest price in the shortest period of time.
It isn’t quite as awe inspiring a promise as FedEx’s “The World on Time” (have you ever really thought about that) but it is still a big promise to make good on.
Some of our clients want, need or have to sell, within a fairly narrow time frame. We work with them to optimize the listing and we get it on the market ASAP.
But many of our clients have some flexibility about when their house goes on the market. For them it can pay handsomely to be very strategic about when we put their house on the market. Here are some important factors to consider when you have flexibility about when to put a house on the market:
# 1 What comps is the appraiser likely to use? Sometimes there are one or more low comps that will soon be older than an appraiser is likely to consider.
Are there pending houses that will close soon that could help or hurt the appraisal of your listing?
# 2 Identical floor plans. Whether it is a possible sold comp or an active or coming soon listing, a house with an identical floor plan to your listing can help or hurt you.
# 3 Lending or rate changes. We just had changes to FHA requirements that will make it harder for many buyers to qualify under FHA. Those changes have been public for some time. For a property that is likely to attract an FHA buyer, it should have been put on the market far enough in advance to get it under contract before those changes took effect.
Or maybe there is a local bond program or other lending option coming up that could help bring a higher price for your listing.
# 4 Seasonal implications. About half of our properties here in Colorado Springs don’t have air conditioning. Putting those houses without AC on the market in warmer months may not be the best idea. Houses here with a north facing driveway tend to have snow and ice all winter long. It is best to put them on the market after all the snow is gone. Do you have trees that look great in Spring and Summer and barren in the late Fall and Winter?
Some houses just work better in a given season. It may be the landscaping, natural light or a décor such as Fall décor that showcases the appeal of the house better in a particular season.
# 5 Can your seller be more flexible on terms at some point in the year?
# 6 How many other houses are active at any given point in time? Are they upgraded, staged and have professional photography? Will your listing be the best on the market?
# 7 Can you find a window of time where your listing will be the only one that has certain features such as granite counter tops, 3 car garage, or a pool?
# 8 Is there a house that is extremely popular and drawing a lot of offers? Sometimes it is good to go active right then to give buyers an alternative. Sometimes if buyers have just lost out in a multiple offer situation they are willing to pay more to get a house.
If your seller is flexible on when they can have their house on the market you may find it will sell faster and for several thousand dollars more by putting it on the market at the most strategic time.
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