Selling Your Home PART TWO: The First 30 Days
Posted November 25th, 2015 by Moving Station

You’ve signed the listing agreement with your chosen real estate agent, and now your home is “on the market.” What does this mean, and what should you expect?

First and foremost, this means that your home is officially available for sale! Your agent has now entered the property into the Multiple Listing Service (MLS), a resource that all agents can access to find out which properties are on the market. There may very well be a sign in your yard, and the advertising, particularly on the internet, is in place. Your Moving Station Personal Relocation Manager (PRM) or Real Estate Counselor (REC) previewed the information before it went on the internet, to ensure the photographs are of a professional quality and the home is being presented in the best possible light.

The first week is the most exciting – you are the “new kid” on the block, and most buyers are going to become aware of you now. Your agent should also have a “Brokers’ Open House” scheduled. This is an opportunity for other real estate agents to visit your property. They will offer feedback, and it’s important to take that feedback seriously, particularly if it’s about things you can change or adjust. The Realtors who attend these events typically are previewing for buyers they have, and they know what buyers in your price range are expecting.

You should also see quite a few showings taking place in the first week. You want to take these seriously, and be as flexible as possible, to accommodate buyers. We want their first impressions of your home to be as positive as possible, and we don’t want them to feel that their showing is an imposition or an inconvenience. Make sure the counters and tables are clear and any clutter has been put away. The goal of these showings is to persuade buyers to come back for a 2nd showing.

By the second week, we should know a little about what the market thinks of our property. What feedback have we been receiving? Is there a recurring objection that is within our control? For example, we can clean or replace carpeting – we cannot move the house farther from an intersection.

It’s also worth looking to see what the competition is doing – are they reducing price? Have they done any cosmetic updates? We want to stay ahead of the competition so that we can be the next house sold.

By the third week, activity may have started to dwindle. If we haven’t been getting any 2nd showings from buyers, it may mean that we need to adjust our price, to make the property look more attractive. It’s important to make sure that this price adjustment matters. Little price cuts will make your buyers think you are either desperate or not serious. A price reduction that shows your value as a motivated homeseller lets buyers know that you want to negotiate a fair price. Price reductions will also “bump up” your property to the top of the MLS list. Your PRM or REC, in cooperation with your agent, can recommend an appropriate price adjustment.

As we approach the end of the month, if we’re still on the market, continue to keep your home as “show ready” as possible. If we’re still getting recurring objections in the feedback, make the adjustments that are within reason and under your control. Your PRM or REC will offer advice based on the feedback received, and what our past experience tells us can work to achieve the ultimate goal of selling the property.

***This is Part Two of a Four-Part Series we are writing about the process of selling your home. In our next installment, we’ll be discussing strategies to explore if you’ve been on the market for over 30 days.

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