{"id":2326,"date":"2020-04-12T14:42:12","date_gmt":"2020-04-12T18:42:12","guid":{"rendered":"https:\/\/www.beingbobblog.com\/?p=2326"},"modified":"2020-06-12T09:02:04","modified_gmt":"2020-06-12T13:02:04","slug":"timing-isnt-everything","status":"publish","type":"post","link":"https:\/\/beingbobblog.com\/happy-holidays\/timing-isnt-everything\/","title":{"rendered":"Timing Isn’t Everything"},"content":{"rendered":"\n
\"\"<\/figure><\/div>\n\n\n\n

<\/p>\n\n\n\n

Timing isn’t everything when selling a property, but get it wrong and risk losing the sale! Property sellers should read up on the many ways they can sabotage the sale of their home. The same mistakes are made by so many sellers that the same issues surface in article after article on the subject.<\/p>\n\n\n\n

A key factor that I find is not on enough lists is timing.<\/p>\n\n\n\n

Most important, and perhaps most obvious, is when to put a property \non the market. However, every market is different, and every market \nchanges a bit each year, so there is no single \u00e2\u20ac\u0153ideal\u00e2\u20ac\u009d month to offer \nyour home for sale. Sure, over time, each market has its periods of \nsignificant activity \u00e2\u20ac\u201d often summer months \u00e2\u20ac\u201d and lower activity, but a \nsharp listing broker will have a more precise timing strategy to \nrecommend.<\/p>\n\n\n\n

Timing your offer for sale generally has three goals: securing the \nmost showings, landing the most offers and earning the appraised value \nyou need. Considering the appraisal process often is forgotten in the \ndecision-making process.<\/p>\n\n\n\n

All appraisers get a copy of your executed sales contract and will \nlook at several months of comparable sales, though it seems most prefer \nto stay within the last four months. Think about the pricing and market \nactivity your area will have experienced in that time period. Will \nenough similar properties have sold within that window to generate \nenough data to support the appraisal you need, and will it be at prices \nthat back up your price? List in March, get an offer in April and the \ncomparable properties used in your appraisal may be from December. That \nmight be a good thing in your market, or maybe not. Are people \ndiscounting their December or January sales or getting top dollar?<\/p>\n\n\n\n

If your appraisal comes in well below your agreed-upon price, many buyers will panic and back out of the sale. The buyer and their agent know that if you refuse to accept their price, even if it is below the appraised amount, then you must put the house back on the market with three issues. First, the property now has a stigma attached. Future buyers and their agents will wonder and ask if it was because of inspection or appraisal issues. Second, your days on market are going to stretch out even further, which can make potential buyers wonder if there is a problem and then put your home lower on their list. And third, you have no guarantee that your second appraisal \u00e2\u20ac\u201d assuming you can get a second buyer \u00e2\u20ac\u201d will be as high as the first one. So, many sellers feel pressured to go ahead and accept the first buyer\u2019s renegotiated offer even if it is below the original contract price and below the appraised value.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Three other timing questions that quickly come into play after you \nhave placed your home on the market are when to make pricing changes, \nwhen does the number of days on the market accumulate to where it \ncreates a problem and when do you address issues with your property that\n were pointed out in feedback from initial showings?<\/p>\n\n\n\n

Your initial asking price is a balance between trying to get the \nhighest reasonable price the property is likely to appraise and finding a\n price low enough to make your pool of potential buyers as large as \npossible.<\/p>\n\n\n\n

Often the first weekend on the market can be very telling and helpful\n in determining timing for a pricing adjustment. If you and your agent \nare pleased with the number of showings, even if you didn\u2019t receive the \nnumber of offers you wanted, and the feedback on the property is good, \nyou may decide to leave the price and condition the same through a \nsecond weekend. If not, it is time to decide on changes to price and\/or \non things you should change about the property, such as paint or \nflooring or staging.<\/p>\n\n\n\n

When the response from the marketplace is the property needs work or \nthat the price is too high, too often sellers are too slow to make \nchanges. Sellers should remember that an amazing number of people do not\n seem to be able to visualize the property on their own as it would look\n with improvements, and it is nearly impossible to lure a potential \nbuyer back to a home once they have rejected it. Sellers who hesitate on\n price changes or fixes lose valuable days on the market.<\/p>\n\n\n\n

In many markets, brokers find \u00e2\u20ac\u0153starter\u00e2\u20ac\u009d houses should be under \ncontract fairly quickly, or the price or condition needs to be \naddressed. Higher-priced properties have a smaller pool of potential \nbuyers and thus stay on the market longer. However, more than 45 to 60 \ndays on the market can be hard to overcome unless you have made \nsignificant price drops, depending on the specific market. If your \nproperty is the likely target for a move-up buyer, giving the buyer time\n to sell their own home first might be part of your timing calculation. \nThat type of buyer might first need to be sure they are getting enough \nout of the sale of their property to be able to afford the payment on \nyours. Local agents should know the range in advance to be able to guide\n the seller.<\/p>\n\n\n\n

Too often sellers hire an expert advisor, as they should, for something as complex and important as marketing one\u2019s property for sale yet fail to act on the advice of that expert and, thus, sabotage their own sale. When working with a listing broker, pay special attention to timing as a critical category of expertise to follow. Timing isn\u2019t everything when selling real estate, but it is one of the most critical strategies when trying for a speedy sale at the highest price.<\/p>\n","protected":false},"excerpt":{"rendered":"

Timing isn’t everything when selling a property, but get it<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5,12,13,6],"tags":[],"class_list":["post-2326","post","type-post","status-publish","format-standard","hentry","category-all-posts-comments","category-events","category-listings","category-real-estate"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","chromenews-featured":"","chromenews-large":"","chromenews-medium":""},"author_info":{"display_name":"Being BOB","author_link":"https:\/\/beingbobblog.com\/happy-holidays\/author\/admin\/"},"category_info":"All Posts & Comments<\/a> Events<\/a> Listings<\/a> Real Estate<\/a>","tag_info":"Real Estate","comment_count":"0","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p822aG-Bw","_links":{"self":[{"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/posts\/2326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/comments?post=2326"}],"version-history":[{"count":0,"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/posts\/2326\/revisions"}],"wp:attachment":[{"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/media?parent=2326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/categories?post=2326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beingbobblog.com\/happy-holidays\/wp-json\/wp\/v2\/tags?post=2326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}