This sounds crazy doesn't it? Don't sell your home too fast. But when the market is moving like this we have to analyze everything to ensure that we are properly representing our clients. Selling a home to the first person that comes through the door is not always the best choice. Sometimes we need to know if we have had enough market exposure before taking offers. We listed a property in the middle of December 2015 and we knew that it was a hot price point. We knew we would get a lot of action on the property. We listed it about $10,000 higher than what we would have justified the price to be based on recent sales. But sales are the past. We used the "supply and demand" principal and chose to elevate the price. It turned out that we had 24 showings in 4 days and we ended up getting an offer. We accepted the offer and it firmed up on Boxing Day. This was a great scenario for our clients. Did we sell it too fast?
I don't think so in this particular case. The sale price was about $1500 below list price. That's an acceptable margin. Now with the Buyer knowing that we experienced a lot of action on the property still did not offer the full price. We went back and forth a couple of times to get to that price. There were no other offers that came in. IF we chose to list it for $10,000 less we most likely would have received multiple offers and maybe achieved $5000 over the list price.
In our Chilliwack market it is important to give it a shot. There has to be enough marketing time. There has to be enough exposure for the property to achieve the best price for our clients. We have seen quite a few properties go onto the market and call the day it hits the system and find out that there is already an accepted offer on the property. Then when we see the sale go through it is not even full price. Our client may have decided to pay the full price...The Seller will never know now.
Did we feel that we got the best price for our client? YES. We had over 30 showings and only one offer. We achieved the best price in the least amount of time with the least amount of hassle.
If you are looking to work with a team that works to come up with the best strategy for you given ALL considerations in the market place give us a call. We want you to be our next success story.
Kelly and Nicole Johnston