What’s the best day of the week to list your house?
When the housing market is going crazy, selling your home at a nice price might seem pretty easy and sometimes it is.
Low Mortgage Rates and homes in short supply, bidding wars are pushing prices higher. How could a homeowner possibly mess this up, right?
While it's true you may not need to put in as much extra work to get your home sold in today's market, a recent analysis finds that a little strategic planning around when you list your home can help sell it faster — and for more money.
Hi, my name is Michael Smith and I am a realtor in Scottsdale. On this channel we are trying to help buyers and sellers in today’s crazy real estate market. Utilizing the right strategies can help make your real estate investments more enjoyable and profitable.
Depending on where you live, putting your home on the market on certain days of the week can put thousands of dollars more in your pocket at closing. That’s not a bad payoff for simply looking at the calendar.
So why day do you think would be best? Saturday, Sunday? What do you think? Why would one day be better than others?
How many of you think Monday would be the best day? Or how about Wednesday?
In general most buyers are available to view homes on the weekends. That’s why you see most of the open houses at that time. Does that mean listing your home on Saturday or Sunday would get you’re the best price?
Most people who are serious about getting a home in this tight market have probably missed out on at least one offer. The more houses they lose, the more serious they get. That means they probably have to be available to look at new listings during the week if they want to see all the new inventory.
A seller’s goal is the get the highest price with the best terms for their situation. Cash buyers have a huge advantage against a buyer with a loan. Cash buyers can close quickly with little to no contingencies. But cash buyers can be pickier about their choices since they have are normally the most desirable buyer.
The seller's best option is the get the highest amount of people at the home before they make agree to accept an offer. Often when people are viewing a home at or near the same time it creates a buzz around the home. Some buyers will back away and decide they don’t want to compete for a home but the majority will be in competition with each other, especially on a well-priced home.
Seeing the demand in person with a line of people coming in and out surely makes Saturday or Sunday the ideal choice. More traffic equals more offers and more offers equals higher prices.
But not so fast.
The typical house listed on a Thursday sells for an average of a few thousand dollars to over $7,000 more than a home listed on any other day of the week.
If you list a home on a Friday or Saturday, you run the risk of any potential buyers already having their dance cards filled with other showings for the weekend.
If you put a house up for sale on a Sunday or Monday, you give anyone who spots your listing almost a full week to consider whether they want to view the home — and mull over the appeal of competing properties. Would-be buyers may lose interest in your home before the weekend. Again the goal is the get the most views.
Thursday listings allow buyers to see the property online or with the help of their agent before the weekend. The more who see it online prior to visiting the house, the more action you will get. Another thing is many people find it easier to take off work on a Friday than midweek if they need to come right away. It’s also more convenient for the seller.
So the ultimate way to list your house for the most money is to list it on Thursday
Allow showings all weekend before reviewing any offers on Sunday evening. Hopefully, you have more than one to choose from.
It even gives your agent time to do an open house for the showings.
There you have it.
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