There are numerous factors that must be taken into account when listing your home for sale. How is the market? What are comparable homes in the area selling for? But one factor that is imperative to real estate, and is often overlooked, is timing.
You know that saying, ‘timing is everything’, well it couldn’t be more accurate. You only have one opportunity to make a first impression. Buyers have a list of needs and wants and if your house doesn’t suit their needs they will move on. With that being said, not every house appeals to every buyer but if your house has unfinished projects or is untidy you will lose potential buyers. If you rush to get your house on the market and neglect other issues you could wind up wasting more time and losing money.
When a property hits the market (when it is first listed) is the prime time for the sale of that house. The first 3 week period is when you have captured the attention of potential buyers and have created a buzz within the real estate market. As those first 3 weeks come to an end, so too does the amount of attention the property is receiving. The next step is often a price reduction in hopes of reaching a new buyer audience and creating more buzz around the property.
I have mentioned the first three week period because it is very important to real estate and timing. You want to hit the market with a big bang to get you a quick, high priced sale. If your home is in need of some repairs or finishing touches and you decide to wait to finish those projects until after your home is listed you may be doing more harm than you realize. Many buyers are looking for move-in ready properties and seeing unfinished projects is a turnoff to many. Unfinished projects equal dollar signs to potential buyers. You will have the highest levels of traffic through your home in the first few weeks, so be sure to take advantage of this time by showing your home in the best way possible.
The longer your home sits on the market, the less attention it receives and therefore price reductions are imminent. It is better to take a few weeks longer to get your home listed and finish those projects first than it is to wait until after listing to complete the work because it will wind up losing you both time and money.
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