After all the meticulous preparations for selling your home, the moment has finally arrived – launch day! This pivotal moment marks the debut of your home on the MLS (Multiple Listing Service), granting Realtors access to its photos, video tours, detailed features, and the ability to schedule showings. Moreover, the listing swiftly spreads to various online real estate platforms such as Zillow and Realtor.com. So, how can you ensure a successful launch? Below, we delve into common queries and offer expert insights.
When is the Optimal Time to Launch a Home on the MLS?
At Herron Real Estate, our listing department meticulously monitors market trends to optimize visibility for our listings. In today's media-saturated landscape, capturing attention amidst online traffic requires strategic timing.
Our data suggests that launching a coming soon campaign prior to listing earlier in the week, and delaying showings until closer to the weekend, maximizes exposure and builds anticipation. This approach allows potential Buyers time to peruse photos, explore the neighborhood, and share information, fostering heightened interest. When their agent schedules a showing, the buyer is more likely to have a more serious level of interest compared to someone that saw the listing online and scheduled a showing immediately. By scheduling showings later in the week, we minimize disruption to Sellers working from home while ensuring a broader audience learns about the property.
What Role Does the Seller Play?
Once your home hits the MLS and other online platforms, be prepared for showing requests to roll in. Leveraging tools like ShowingTime, we empower Sellers to manage showing requests conveniently via email, text, or app notifications, facilitating seamless coordination of showings.
The Crucial Initial Days on the Market
The first weekend on the market typically sees the highest activity levels, presenting prime opportunities for securing offers. Our strategic pricing analysis, professional marketing endeavors, and comprehensive online presentation aim to generate momentum during these critical early days. In a balanced market where there are an equal number of homes listed as there are Buyers actively seeking properties, it's suggested by experts that within the initial 7-10 days of listing, a home priced below a certain threshold (such as $400,000 or less in Jacksonville), situated in a sought-after location, should ideally garner a minimum of 10 showings and elicit at least one offer. During COVID we saw an intense Sellers market, where the number of Buyers far exceeded the number of homes available for sale. The pace of showings and number of offers was much higher than that. In the post pandemic landscape, Sellers are often faced with the obstacle of high interest rates and Buyers struggling to secure financing. These obstacles require a unique marketing strategy to ensure you’re maximizing your potential for the most profit.
It’s not easy for Sellers to balance their home life while accommodating showings to Buyers at different times of the day. To ease the strain on Sellers during this bustling period, some opt for a mini vacation once showings begin to minimize disruptions. This is a great way to maintain the home in show ready condition and allows more flexibility for Buyers to see the home. The primary goal should be to allow as many Buyers to see the home as possible and for them to have a good first impression. Following this process will lead to the best outcome for our Sellers in the shortest amount of time.
Who Answers Questions from Buyers and their Agents?
Timely responsiveness to both Buyers and Agents remains crucial for achieving a successful home sale. It can be frustrating for a Buyer or Agent to receive a slow response from a listing agent. Delays in communication can be deterring, and they may lose interest and move on to another home. I myself have experienced this when working with Buyers.
As a listing agent, I dedicate myself to gathering comprehensive information from Sellers before listing the property. This enables us to promptly address inquiries, covering details such as recent updates and repairs, the age of appliances and systems, and neighborhood homeowners' association regulations. In cases where questions arise without immediate answers, I quickly reach out to Sellers to obtain the necessary information.
If a Buyer that is not represented by an agent is interested in the home, I will field all their questions and make sure they are financially able to purchase prior to scheduling a showing.
Receiving Offers
If your home is getting a lot of showings and offers, I may suggest establishing an offer deadline, ensuring all interested Buyers have a chance to view your home. This approach grants you a sense of control over your schedule and allows for a methodical review of offers within a set timeframe, easing the pressure and uncertainty of the process. I can provide you tailored advice based on current market conditions to help you navigate this stage effectively.
Early Offers
In a seller-friendly market, Buyers may present aggressive offers, including sight-unseen bids or those with tight response deadlines, even if contrary to the seller's indicated timeline. This situation can be stressful for Sellers, who face the dilemma of not wanting to reject an appealing offer while also being wary of undervaluing their property and potentially missing out on better opportunities down the road. This is one of the times when having experienced representation matters. As your listing agent, I am here to offer guidance, assessing not only offered prices but also negotiable terms like closing dates and contingencies. As well as speaking with the Buyer’s agent to learn more about the buyer to determine the offer's strength and suitability.
In a buyer-friendly market, Buyers may present offers asking the seller to pay money towards their closing costs and prepaids or may ask for multiple items to be repaired/replaced during the home inspection period. When a home has had more time on the market Buyers see this as an opportunity to get a good deal and may try to see what they can get from a Seller that is in a pinch. We will talk about every option possible prior to listing to avoid this potential scenario.
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What Happens if You Receive Multiple Offers?
While receiving multiple offers may seem like the ideal scenario, it can be overwhelming. I will meticulously evaluate each offer, facilitating a comprehensive side by side comparison. By considering various aspects, such as net proceeds, preferred closing dates, and inspection requests, Sellers can make informed decisions aligned with their priorities. Expert guidance ensures Sellers choose the best option for their circumstances.
Absence of Offers Despite Numerous Showings
When your home receives substantial interest with numerous showings, yet fails to garner any offers, our listing department takes proactive steps to gather feedback from buyers' agents. Understanding the reasons behind the reluctance to make an offer is crucial. If the lack of interest stems from factors within the seller's control, such as worn flooring or dated paint, I will recommend reasonable changes. This may involve affordable updates like refurbishing flooring or refreshing certain rooms, which have proven effective in facilitating successful home sales.
However, if buyers are deterred by factors beyond the Seller's control, such as an unattractive yard, a busy street location, or insufficient amenities, a pricing adjustment may be necessary to attract buyers at a different price point. In such cases, I will provide guidance to ensure the home is competitively priced relative to similar properties in the market, thus highlighting its value to potential buyers.
Subpar Showing Numbers
In cases where a listing receives limited showing requests despite significant online exposure, it indicates a misalignment between the perceived value of the home and its reception by potential buyers. This discrepancy prompts a discussion between you and I, and I will assess the situation and potentially recommend a price adjustment. Ensuring that your home is competitively priced is essential to garnering buyer interest and securing a timely offer.
In Conclusion
Ultimately, success in selling your home hinges on experienced and reliable representation. Entrusting such a significant transaction to professionals with in-depth knowledge and expertise minimizes risks and maximizes your earning potential. I am committed to delivering "Exceptional Service," offering a comprehensive real estate experience tailored to your needs. If you're contemplating selling your home in Jacksonville, FL, or surrounding areas, I invite you to connect for a discussion about your goals and our unique listing strategies. Contact me or fill out the form below, and a team member will reach out promptly!