Q: Is It Good to Sell on the First Day?

Taking an offer on the first day your home is listed is a bad idea. 

Today I’m discussing a somewhat controversial subject in real estate. I’ve been seeing many of my real estate friends both in my office and in the area boasting about selling their listings the first day they’re on the market or that they found a buyer before listing the home. 

However, is it truly good to sell a house on the first day it’s listed? You may be thinking “Of course, that means you got an offer immediately.” But think about this: If you take an offer before the property is listed or on day one, what could be left on the table? 

We do tons of marketing, but it doesn’t hit all the websites for another two to three days. If you sell to the first person who makes an offer on day one, that takes away your opportunity for a bidding war for the home. Another buyer could make a much better offer. I don’t believe it’s a good idea to sell on day one, and very rarely will it be best to accept an offer before listing. 

We use an offer review date strategy; we list on a Tuesday or Wednesday, then review the offers the following Tuesday or Wednesday. This gives the marketing seven days to find all the buyers interested, and then they can compete against each other for the house. 

If you have any questions about taking an offer on the first day or what our offer review date strategy looks like, just call or email us. We would love to speak with you.