In this “Seller’s Market” where there is no shortage of motived and qualified buyers, the right priced homes sell in a day or 2. if your home has made it 5-6 days with no offers on the table buyer’s start thinking they can negotiate harder with your home, and that it must not be priced perfectly. There are 3 things that add value to the eyes of a buyer in a home. Location, Curb appeal, and Price. When the 3 of those line up perfectly I’ve seen 8 offers come in within 24 hours of going live and the price gets shot up by $5,000-$10,000 and sometimes more than that. Listing Wednesday allows for you to position your home with a list price at the top of the market which usually doesn’t sell in 24 hours but, you’ll get showings then of those showings the person who likes the home the best will begin to feel a fear of loss when they see in the description of the home that there is an open house this Saturday. The last 4 homes in a row I’ve advertised an open house on Saturday. My Sellers have not paid 1 dollar towards closing costs, 1 dollar off the price, or towards a home warranty. I wish I would have thought of this strategy sooner but better late than never. Most Real Estate Coaches teach that they are a waste of time, nobody buys the house from an open house, and it’s just a way for agents to get free buyer leads to sell a different house. I’ve never seen anybody else leverage open houses to get better offers before the open house even happens.
Not all websites have the tech to sync up to the mls to know when the open house will be. This means that unless buyers are by chance using a site that notifies them of open houses they will miss out on yours. Make sure the opening line of your property description mentions the open house so buyers won’t miss it.
OPEN HOUSE August 25th Saturday 11-1pm. Open concept layout, granite in the kitchen, custom cabinets, and whatever else for the property description.
Never Thursday Or Friday
The National websites like Zillow, Realtor.com, Trulia, and Homes.com and 1000’s of other websites that buyer’s use to search homes take a day or 2 to syndicate with our Local MLS system. Your home won’t be fully advertised online until Thursday or Friday if you list on a Wednesday. 1000’s of websites will notify their users of a “new listing” on Thursday or Friday which sets them up to be notified of your open house on Saturday. Click the Green to see our article about WHY YOU MUST HAVE AN OPEN HOUSE!
Local websites like ours at www.LivingInUtah.com or UtahRealEstate101.com, as well as the public version of our local mls at UtahRealEstate.com, do show listings within 15-30 mins of being listed. These hyper-local websites typically have the local realtor and their buyers that have been pre-approved already searching the sites waiting for the right home. These are the motivated buyers that show up same day or next day after listing. I like to put right in the description of the home that there will be an open house on Saturday that way these buyers have a sense of urgency to write a good offer before the open house in order to avoid the risk of multiple offers coming in on the home during that open house weekend!
Due to the fact that listings take a while to syndicate across the web completely, and the urgency/fear of loss the buyers have when they see the home before the open house Saturday, I propose that Wednesday is the best day to list your home.
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