Don’t Leave Money on the Table
San Fernando Valley Real Estate Podcast with Scott Himelstein
English - May 05, 2021 17:58Education real estate for sale real estate agents top real estate agents local real estate agents find a real estate agent home selling tips home for sale home buying home buying process property finder Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Here’s why selling your home in just one day isn’t beneficial to sellers.
If a home sold in one day, the seller likely left money on the table. I see other real estate agents on social media boasting that they’ve sold a house in one or two days. Today I want to explain why that’s so detrimental to sellers.
First, you should know that our local board says that for-sale homes are currently averaging 34 showing requests. Here in 2021, our team is averaging 60 showing requests per listing, and several have had over 100. With that in mind, if you put your house on the market on a Thursday, which is what we recommend, it allows the property time to be shown on all the different internet sites.
We advise having your home on the market for a full weekend. We typically begin showings on Saturday morning, and they go for six or seven hours on both Saturday and Sunday. If you’re averaging four showings per hour, after seven hours, you’ve had 28 showings, which means you need more than one day. As a seller, you want as many people walking through your house as possible.
“Our team is averaging 60 showing requests per listing.”
Sometimes it’s not always feasible to get every interested buyer into the home, but you want to give everyone a fair chance. You want as many opportunities as possible to get excellent offers because you’ll be able to dictate the terms due to all that competition. It’s not just about price when you have eight to 20 offers on the table; you can consider the appraisal, waiving contingencies, free rent-back, and more.
I see many agents put a house on the market on Friday, then it’s sold by Saturday evening, but they’re not allowing everyone to see the home. So though they may get two to four offers, they may be leaving tens of thousands of dollars on the table. Have the property on the market for at least two to three days; then, set the offer deadline on either Monday or Tuesday and be sure to dedicate a few days to the counteroffer process.
If you have any questions about selling or our current real estate market, give us a call or send an email. We would love to help you.