Time Is Not Your Friend

A recent conversation with a homeowner demonstrates a common misunderstanding; i.e., selling a home takes time.

In this instance, an owner had not been able to sell the property after being on the market for several months. Next time, “I’m going to give it more time, because I really need to sell”.

Except in rapidly rising market, more days on market almost guarantees a much lower selling price. Not only does marketplace dynamics come into play, but it is also a given that the property will not show as well on day 180 as it does on day 1 because seller fatigue begins to set in after about 2 weeks. Visual signs indicating the owner attitude has changed: beds not made, tooth paste on the counter, clothes sprawled in the laundry, carpet spots return, dishes in the sink, weeds appear in the lawn, outdoor furniture is dusty, etc.

This phase of owner frustration presents a great buying opportunity. Seller’s can avoid getting behind the 8-ball by preparing the house for sale and being realistic about pricing.

This is easier said than done. We’re glad to share our thoughts and make recommendations to help our clients sell to net more at closing in less time.

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