Selling Jitters

What can happen when a home goes up for sale? Five things. Here’s a list from the best-case scenario to the worst case.

1. Multiple Offers: Flurry of showings that produce multiple offers, resulting in a sale price above asking. The property was underpriced, either by accident or design.

2. Great Offer: Lots of showings produce one very strong offer, at or near the asking price. The price was spot-on.

3. Acceptable Offer: Eight to 12 showings in 30–45 days produce an offer adequate to satisfy seller and lead to closing. This is the norm.

4. No Offers/Unacceptable Offers: Eight to 12 showings in 30–45 days but no offers or only unacceptable offers; a clear indication of a property problem. Agents and buyers are visiting the property, only to be disappointed on arrival. If the problem can be fixed (say, by painting over bright paint colors), then the seller should fix it. If not, the problem must be overcome by offering buyers a better price.

5. Nada: Little or no showing activity. Agents and buyers are looking at listing details and electing not to even visit the home. Clearly, the price exceeds the market’s expectations.

If you’ve tried in the recent past to sell your home — and you’ve only gotten unacceptable offers or none at all — it’s likely that your listing was overpriced or there’s a problem. Contact us to discuss your home so we can help you sell successfully.

From our March 2012 E-Newsletter