The Best Chance to Sell a Home is in the First 5 Days

Posted on 27. Sep, 2010 by LuxSpaces in Real Estate 101

If the pricing of the home is wrong, odds of the home selling in a reasonable amount of time goes down dramatically.

An interesting new study coming out of New Zealand reinforces the belief that getting home pricing correct on the first try greatly increases your home being sold.

A new home on the market gets four times as many page views in the first five days as it does during the next week. So if the pricing of the home is wrong, odds of the home selling in a reasonable amount of time goes down dramatically.

Yet, so many real estate agents will take a listing from a home seller at an inflated price, just so they can take a listing! Part of their marketing plan is to say whatever the seller wants to hear to get the listing, then tell them after a couple of weeks to lower the price to a level it can sell at.

Unfortunately, this study shows that the prime time for selling the home has past while the pricing was wrong.

For the agents out there, I would put this stat in my listing presentation. After explaining to the sellers that a correct price on the day of listing will greatly enhance their ability to bring in actual buyers, I would warn them about agents who will tell them what they want to hear in hopes of lowering the listing price down the road.

You may end up getting better listings in the process and helping homeowners sell their houses faster.

Realestate.co.nz chief executive Alistair Helm said a property receives four times as many views in the first five days of it being marketed online than one week later, meaning the common sales technique of setting a higher asking price initially and negotiating later could prove costly for homeowners.

Helm said the analysis of 1100 New Zealand properties across a six week period during July and August was based on similar research carried out in the States, and was crucial given the current market. via The New Zealand Herald

For more articles like this, visit The Real Estate Bloggers, where it was originally published.