Your home sale may not go as expected - and the resulting stress and anxiety can cause you to make unwise decisions. Avoid mistakes by giving careful consideration to the questions below and use your answers as a guide on what to do to turn your situation around.
Buyer Activity is Low:
If you don’t see much buyer activity, first read about why your home may not be selling as quickly as expected and adjust your pricing and/or expectations accordingly.
Then consider the following:
- Do you need your home to sell faster?...
- How much would you be willing to lower your price in the first 30 days, if need be?
- Would you be willing to lower it again after 60 days? By how much?
- Are you listed on the MLS?
- Have you posted your home to social media? And have you asked your friends and family to share it with their networks?
- ...or are you more interested in a higher price?
- Are you willing to wait for the right buyer to come along? If so, how long?
- Do you have a good idea who your buyer might be? (For example, Is your buyer more likely a first-time homeowner, a high-income family or a retiree?)
- Do your listing title and description speak directly to the buyer you think would be most interested in your home?
- Do your photos do your home justice? Or, do you need to hire a professional photographer and upload new photos of your listing?
Deciding When to Accept an Offer:
Think through these decisions before you’re faced with them:
- What is the lowest offer you would accept after 30 days on the market? After 60 days? After 90 days?
- If you have multiple offers to choose from, would you accept the highest price? Or the one most likely to close escrow?
- Would you accept an offer that was contingent upon the buyer selling their own home first? (Here’s what we think about contingent offers.)
- Which do you prefer: an offer with a higher price or a greater certainty of closing?
There is no magic when it comes to selling your home. Sometimes it goes quickly (which comes with its own stresses, like having to pack and move fast!) and sometimes it goes more slowly. Be prepared for both situations.