I must admit, this is something I thought about for only a few minutes in the past. I have always felt if one prices the home correctly, does all the necessary things you should do to prep the house before you market, and your agent markets it properly, your property should sale. Redfin in their analysis goes one step further and feels there are better days to first market your home than others.
Overall, I think this is just another tool to use for there are several things you and your agent need to consider when putting your home on the market. Since approximately 85% of all homes listed in my Napa Valley MLS, multiple listing service, are sold by other agents, one needs to still have agent caravans to fully expose their home to both buyers and other Realtors. In my MLS, BAREIS, we must enter the property into the its database by midnight Tuesday to be on the Thursday caravan. So technically, it is on the market the day you enter into the MLS which according to Redfin is mediocre at best and is the worst day for “the most views”.
One thing I will state unequivocally, you do have by far the most showings in the first two to three weeks when you first put your home on the market. Thus many sellers who make the statement, let’s test the market at a price higher than your agent suggests are often making a big mistake. Buyers today are very savvy and they know immediately when a house is priced to high. BUYERS WILL NOT PAY MORE FOR ANY HOUSE THAN IT IS WORTH, especially today. Houses go stale in this market very quickly and if a home doesn’t get shown as often as it should during those first three weeks due to a seller pricing their home too high, quite often no matter the number of price reductions thereafter will help. I call this chasing the market and have seen many homes listed to high sell for less than they should have if priced correctly in the beginning leading to a much quicker sale. The is also the time loss of not getting your money sooner, hopefully this is your case, and just getting on with your life. Having a home on the market is work and takes a reasonably amount of time keeping it presentable.
As a seller, this is one of the most important things to take away from this post. Listen to your Realtor when first pricing your home and preparing your home. The outcome is a quicker, more profitable sale.
Thank you for reading this post. If I can ever be of help in finding you the perfect property here in the Napa Valley, please email me at Curtis@NapaValleyAddress.com.
Your Broker Extraordinaire, selling Napa Valley Real Estate from its heart, Yountville.
My website & blog: www.NapaValleyAddress.com