Though every listing agent might do things a bit differently, here is the general outline for how to maximize a home sale:
- Plan to launch the property on a Thursday. When we go live on the MLS on a Thursday, it typically hits everyone’s accounts by Friday. For those buyers who are qualified and ready to go, it doesn’t take 24 hours for them to reach out to their agent and book a showing. We know from experience that offers usually come in from that initial wave of showings. Having these critical first showings on a weekend is an important strategy, as it allows for high traffic with great run-in potential; there’s nothing better than having all of these agents schedule showings for their buyers and seeing them run into each other at the property.
- Once an offer is received in writing. Let’s say we launched on a Thursday, had 15 showings that first weekend, then received an offer in writing on Monday. You’d expect your agent to reach out to those other 14 potential buyers and let them know that an offer has been received in writing; it’s a professional courtesy, but it’s also a strategy. Make sure you pose the all-important question to these other 14 buyer’s agents: Is your client interested?
- Set a time to present all offers to the seller. We notify all interested parties that a deadline has been set and that all offers must be submitted to the seller for review by a specific time, like 3 p.m. on Monday. Doing this accomplishes two things: 1) if somebody else is on the fence, it creates that extra little push needed for them to submit an offer, and 2) it changes the mindset of the buyer who’s already submitted an offer. They’ll realize it’s no longer about seeing how low they can get the seller to go—it’s about how to adjust their position to win out in a multiple-offer scenario. Considering the offer.
- Considering the offers. We always make sure that its not always about the highest offer and we will look at all the terms of the offer, such as buyer's type of financing, down-payment amount, verify of the pre approval, ask if some terms are waived like home inspection. As well as we will consider the buyer's motivation and ability to buy without any contingencies.
Whether you’re selling in New Jersey or elsewhere, make sure that your listing agent employs a similar framework to get your home sold quickly and for top dollar.
As always, reach out to me if you have questions on this or any other real estate topic. We love hearing from you and are ready to assist you with your buying or selling needs.
FOR THE LOVE OF REAL ESTATE