The first week of a listing tends to be busy. Sellers will have usually multiple showings, we are continuing setting up marketing and making sure 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 $300,000) 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 for 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 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?
That depends on the condition, location, and price of your home. We will have already discussed what might happen in regards to the number of showings and offers.
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 (firstname.lastname@example.org) for a referral.
What should we pay attention to that first week of listing?
We still have a very fast sellers’ market in Colorado Springs.
- You are most likely priced well and getting close to at least one offer if you are receiving a lot of attention from the market in the form of showings.
- You might be slightly off with pricing or features/condition of the home if you receive about 2 showings a day that first week. Take a close look at your feedback to try and find out what the issue could be.
- If you receive fewer than 5 showings in the first 10 days, we will have an honest 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.