On Thursday is the brokers tour.
If it looks like I am getting lots of calls and potential offers I usually give a deadline for offers the next Tuesday at noon if the seller is okay with this which they usually are.
This brings in the excited buyers letting them know there is a deadline so you can get some actual offers in writing before your home is on the market too long.
I prefer and recommend about a two-week exposure timeline with a set offer due date on day 15 or so. I let the Agents know the deadline date but they can still submit their offer earlier if they wish, but all offers are not presented until the due date.
This gives any Agents/Buyers ample opportunity to
1) Find and review the property online,
2) Physically tour the property,
3) Review all Seller disclosures, and
4) Get their financing in order, if needed.
I prefer option 2 so I can make sure the listing has had a chance to make it on all the websites and has received the exposure that it needed.
When I do the open house, I look at the interest and number of groups that came through. Then I can judge when the offer date should be. Even after the open house, there should be a delay of at least 3-4 days so the people that saw it can decide and the new buyers that come into the market also have a chance to see it.
In a multiple offer situation it does not make sense to take the first offer that comes through the door.
Help-U-Sell Achievers Realty
What I see most often these days is agents setting a time for reviewing offers 5-7 days after the listing. That generates a number of offers and notifies the public about how quickly they have to see the home.
I've always preferred dealing wtih offers as they come in...but these days...the second option seems more the norm.
Good luck to you!
I just Sold one at $2M......Option 2 is Best in my Opinion....as you then have the chance to gather ALL potential Offers on One set day....go through each one for all aspects for the strongest offer, not neccessary the highest....with your agent to advise you....then pick the one/s, maybe counter, or then just accept one and Sell with a Bang! :O)
If you work Option 1, lets say you get a decent off and accept it......but there were 4 more coming that could have a WAY better one.....you just lost out on taking it.......
At the end of the day, your choice!
Would love to Interview for the Listing, if you have'nt already picked a Realtor! Wishing you only the Best! Be well and Safe, rehards,
What that would mean would be that the most of the buyers looking for that area and home type would have a chance to preview your home. This way, you can get the best price and terms from a whole range of buyers.
If you were to receive offers right away as soon as you were to put the home on the market and gave a week for the buyers to preview the home, you may have missed on a good potential buyer who may have been out, or busy and not able to get in to make an offer.
At least a couple of weeks or so out for an offer date may be a good marketing and business approach.
Broker-Referral Realty Silicon Valley
In today's market David, if you are looking to sell your home fast, I would put a offer due date two to three days after the second open house. However, if you just want to stall and look for another home to buy time you can review offers as they come in and just not accept any of the offers until you are ready to move. But, the longer your house is on the MLS the least likely you will get more than asking price for your home. Or, you can have a contract that is contingent upon you finding another home before you are willing to move. Best advise sell your home with an offer due date, because you will have multiple offers in to choose from and often times all cash offers over your listing price, in this today's market. You are welcome to call me if you haven't already signed with an agent to list your home for more info. (510) 469-3148.
Assuming that your property is priced right, looks good, and in a good location, it will surely generate a lot of attention.
To make sure your property is marketed extensively to give it the best exposure possible in a short period of time, you should also ask the potential realtors about their marketing plan. It should include a robust internet exposure --- perhaps its own property specific website, professional photography, visual tour.
Then have at least one broker's tour, at least one open house before you look at offers. If I were you, I would probably hold off until Wednesday just in case the buyers (and their agents) saw the property during open house, and then will need to get their ducks in a row and will need at least a couple of days to prepare the offer to include a preapproval letter.