Thursday, March 31, 2011

Don't Waste Your First Week on the Market

The old adage "you have one chance to make a first impression" is never truer than in real estate.  Buyers are well aware of time on market for homes they are looking at so it is important to get the widest exposure possible when you initially list your home to build excitement and draw as many offers as possible in your first round of bidding.

Too often sellers will list on one site one week, then on another site a couple weeks later, then list on the MLS three of four weeks later.  This breaks up the market because your house appears for sale to different buyers at different times, and ultimately confused sellers about how long your house has been available.

The goal of every seller is to get multiple offers in the first round.  The best way to increase your chances of this is to make sure that as many people as possible see your listing in the first few weeks before you accept your first round of offers.  This means listing on Owners and using our network to get listed on our partner sites like MSN real estate, Trulia etc.

But the single most important place to list is on your local MLS.  80% of active local buyers are using an agent to find them homes.  And all those agents belong to their local MLS and use it as their primary way of finding homes for these buyers.

You can formally notify these buyers and agents your home is for sale by adding your listing to the MLS.  Remember the goal is to get multiple offers, by listing on the MLS through you retain the right to sell to anyone, even independent buyers with no agent.  But the more offers you have the better position you are in.