The Great Balancing Act
In a hot market many properties sell fast - some even before the first open house! That's not actually always best for the seller, though. When I represent sellers, my advice is to wait until after the first weekend to accept an offer. There is a risk that if no other offers materialize the original offer may be worse, but on average you'll do better by exposing your property to the full market. If someone is interested on Friday, they should still be interested on Monday, and perhaps willing to improve their offer in the face of competition. The goal is to get you the best offer with the fewest risks.
But how often do sellers cave and accept an offer before the first weekend? More than you might think! Faced with an attractive offer, many sellers prefer the proverbial "bird in the hand.”
I examined 1,058 properties sold in Newton over the past 12 months, and 81 of them (8%) accepted an offer before the first weekend was over! Next door in Brookline, it's even more common: 65 (12%) of 559 sold properties.
So what does this mean for buyers? Preparation is key, because you might lose a property you love if you're not ready to pounce. You simply don't know when your dream home will come on the market.
The good news is that I can help. If you're even considering buying in the next year or two, your best move right now is to have a chat with me. Together we will make a winning strategy.
Call or e-mail me anytime to start the process that works best for you.
Best regards, Ryan Cook Sales Agent @ Accent Realty Ryan@RyanCookRealty.com 617-744-9033 www.RyanCookRealty.com