Something magical happens the first day your home hits the market—like the new kid at the high school dance, all eyes are on that property. At that moment, buyers and agents alike make some rapid judgments.
Is the home overpriced? Is it in good condition based on the photos? Is it in a great location?
The first impression will affect how many showings you receive during the first few weeks that the home is listed. If you receive very few showings during that initial period, then you have a problem.
The market as a whole is rejecting that home’s value, and there’s only one solution: make a price adjustment. The sooner you do this, the better.
Why not just give it a few short weeks? Think of the real estate market as an audience in a movie theater—as soon as the home hits the big screen, the group collectively decides if they like the picture or not. More time won’t change their minds. If the home gets little or no activity, it’s been decided that the home gets a thumbs down. The only thing you can do now is hope that new audience members trickle in. Many sellers make the mistake of hoping that new buyers who enter the market will fall in love with your home against all odds and nominate it for an Oscar.
Repositioning the property in the market by adjusting the price is a much better bet.
If you have any other questions about selling your home in today’s market, give us a call or send us an email. We would be happy to help you!