In February of 2018, I met with a client who was so ready to sell her home that she would’ve done so the same day we spoke if possible.
The only thing that had been holding her back until that point was the fact that her friends and family had been saying to wait until summer. They told her that by doing so, she’d earn a better deal for her home.
When she relayed this to me, though, I explained something her friends and family probably didn’t consider. Summer may be a more active season for real estate, but this can actually work against those seeking to take advantage of the hot market conditions. Summer is actually the peak buying season—not the peak selling season.
Why? Well, if everyone thinks they should wait until summer to list, those who do list at that time will be facing a lot of competition. And the more homes there are on the market, the lower demand will be for your specific property.
With this in mind, I told this client that by listing sooner, she’d almost certainly receive multiple offers and sell her home for far more than her asking price. Unfortunately, she chose to listen to the advice of her friends and family over mine.
We put her property on the market in June (per her request) and though we did everything we could to make it look like a model home, her shot at success was hindered by the high level of competition. The same week she listed her home, three other properties went up for sale in her neighborhood.
Our client’s home sat on the market for about 45 days and ultimately sold for $860,000. If she would have followed my advice, I’m confident we could have sold for close to $900,000.
When it comes to buying and selling a home, timing is everything. It’s important to take the advice of the agent you’ve hired, or plan on hiring, as you work toward your real estate goals. Doing so will help you maximize your success.
The bottom line is this: To avoid regret, you must take action.
If you have any other questions or would like more information, feel free to give me or my team a call or send us an email. We look forward to hearing from you soon.