This Week: Beginner’s Mind
Picking up where we left off. Drilling down on the details. Getting your house ready to sell in 2017. Hopefully in about four or five months when the best window to list opens up.(Reminder: The window closes quickly. Don’t make the mistake of procrastinating like some unfortunate folks did this year. Put March 1st on your calendar!). Go to tombrezsny.wordpress.com to join the conversation.
All of this is based on a simple premise: If you want to sell your house for the most money possible, you have to do everything right. And everything right means: Right timing. Right preparation. Right presentation. Right pricing. Your house will still sell even if you don’t do everything right. It just won’t sell for as much.
So whaddaya do now? If you actually put March 1st down in your calendar (give or take a week or two) you’re already off to a great start. No matter what anyone else tells you, that’s unequivocally the best time to get up and on the market – for reasons I’ve outlined before and no doubt will again. If you blow it on timing, it’ll be hard to make it up with better preparation or presentation. Odds are it could affect your pricing.
Next, you should wipe away any or all preconceptions you have about how all of this is supposed to work while you also let the following sink in with a healthy dose of Beginners Mind. Wipe the slate clean and push the reset button because there have been some interesting developments during the rapid run-up real estate experienced over the last four years. Good news/bad news kinds of things that have fundamentally changed how the whole process unfolds. As a Seller you should be aware of both the good and the bad.
For instance: As prices have risen to record highs in recent years, so has the average Buyer’s expectations about what they are getting. The level of scrutiny Buyers engage in these days is way more exacting than it used to be. Their customary attention to detail is now magnified to the nth degree. They’ll pay more but only after they’ve looked harder. If your house doesn’t pass muster? It’ll come back to haunt you during the inspection contingency period.
Also for instance: The speed at which houses sell(or don’t sell) has dramatically increased. (Helped by the pervasive influence of technology and the speed of all things internet-driven of course.) The maximum level of Buyer interest on any new listing is now generated in the first few days or weeks it is on the market. The radically condensed timeline creates more multiple offers and more sales that exceed their list price way quicker than it used too.
The down side? If your property doesn’t sell in the first few weeks, then the pressure on Buyers to step up and make offers is off. Generally speaking, the longer a property is on the market, the less it is going to sell for. No offers is almost constitutes de facto proof that a house isn’t worth what’s someone is asking for it.
Keep this in mind. It’s a hard concept to grasp. In the old days it took 30 or 60 days for just to get the marketing message out on a new listing. People expected to sell their places in the first two months, not the first two weeks.