The first week of a listing tends to be busy. Sellers will have usually multiple showings while we continue to market the home and ensure all systems are in place and fully operational.
How many showings will I have?
If you are in a high demand price range (currently under $400,000) you will have multiple showings in the first few days. As we mentioned in our showings post, you might want to completely vacate your home if you are in this price range to allow as many showings as possible. We understand that a large number of showings over several days can cause a tremendous amount of stress for you. If you feel like you need a break, just let us know and we can block a day off from showings. It will not have an impact on any offers you might receive.
If your home is not in this high demand price range, you might still expect several showings in that first week.
Will I get multiple offers when I list my home?
The lower the price, the higher the chance that more buyers will want to make an offer on your home. If you have a home in newly remodeled condition with appropriate pricing, then you’ll also have a very good chance of receiving multiple offers.
If we anticipate that you will receive multiple offers, we recommend that you wait a couple of days before reviewing offers. An ideal timeline is to have the home on the market by late Thursday evening, start showings Friday-Sunday, and then compare all offers by Sunday evening. This timeline maximizes the number of buyers looking at your home and potential offers. It is absolutely your choice to accept an “irresistible offer” prior to that Sunday deadline. You can also decline an offer before Sunday night to give the buyers a chance to move on.
Note: We are based in Colorado Springs, Colorado. If you are planning to sell your house in a different area, we can match you with an excellent local agent. Give us a call (719-321-0800) or email us (email@example.com) for a referral.
What should we pay attention to that first week of listing?
- It is important price your home strategically to keep up with any up or down trends in the market. Your pricing should reflect current local market trends. We will provide you with resources that show these trends and suggest a price. A downtrend in the market means that your price should be competitive enough to attract buyers to your listing.
- The expectation is that 2 showings per week is considered a success in our current market conditions. It takes an average of at least 10 showings to a generate an offer. Patience and paying close attention to the market are key.
- If you receive fewer than 4 showings in the first 14 days: we will review feedback and your listing competition. We will talk about reducing the price in order to sell your home within the first 30 days.
These are just general guidelines. There are so many other factors that play into this that need to be considered. We will be in touch with you to discuss showings, feedback and strategy.
Related Reading: Pricing Your Home to Sell
Are all disclosures filled out?
If you have not yet filled out and signed all disclosures, now is the time to do that in order to be ready for incoming offers.
What about HOA and due diligence documents?
If you haven’t already done so, please make sure to pull out all due diligence documents now. Many sellers tend to take this lightly, but you should really make all documents available to the new buyer in order to avoid any claims and issues down the line:
- previous survey(s)
- past inspection of the home and property
- permits or reports of previous repairs
- owner manuals
- previous insurance claims and repairs thereof
- any other information pertaining to the home or the subdivision the home is located in of present, past or future plans that would influence the property’s value
- old closing documents, that do not have your personal information on it
- building plans
- Improvement Location Certificate, etc.
Home Owners Associations (HOA’s) can be a challenge. The covenants of a subdivision are usually recorded and therefore they are provided by the title company. A subdivision that has covenants does NOT have to have an active HOA. You may also have two separate HOA’s. Confused yet? We are here to help. Discuss it with us and we’ll be happy to guide you through the process. Now is the time to track down the HOA documents so that you don’t have to sweat it when you receive an offer.