David Mitchel, Home Seller in California

Listing my home over memorial day weekend

Asked by David Mitchel, California Tue May 14, 2013

Hi, I plan on selling my home soon. I don't have an agent yet, but looking to get one soon and list the property for sale. Over memorial day wk end, should I have an open house. I know there are tons of buyers, but don't want them all to be out of town.

Also, how should I negotiate with my listing agent. I want him/her to earn full commission, so don't want to negotiate that. thanks for your suggesitons

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Joe Schembri, Agent, Fremont, CA
Sat May 25, 2013
Hi David, We just listed a home several weekends ago and today Saturday May 25, was our first open house. With all the great marketing we put forward, we had 90 plus buyers come to view our open house on 45722 Bridgeport Drive in Fremont. Not bad for a long weekend ! We plan on holding another tomorrow and expect the same amount if not more.
If you have not listed your home yet please contact me so I can discuss your next steps.
Best Regards. Joe I can be reached at 510-750-3447
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Steven Ornel…, Agent, Fremont, CA
Sat May 18, 2013
Hi David,

Re: Open House during a "holiday weekend".

Personally, I would not have the OH during a weekend with a "holiday". Just to give you a current experience, I had an OH over the May 4-5th weekend. The first day we had 47 visitors groups and on the next day (Cinco de Mayo) we had 13.

On the second part of your post, in my opinion, the most important "negotiation" is how the property will be marketed (with price being the most important variable in selling a property) and at what cost to you.

Also very important is a feedback loop measuring market interest. For example, I just checked our metrics on the aforementioned property (as of May 1st):

MLS Listing Client Views: 26
MLS Listing Agent Views: 255
Public Property Website Views: 178
Public Property Website Views (driven by yard sign): 68

Fremont has a number of excellent local Realtors® so when it comes time to interview Agents and you make your decision I'm confident you will be in good hands -- be sure to review each Agent's Trulia recommendations as well.

Best Regards, -Steve
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Brian Ripp, Agent, Fremont, CA
Wed May 15, 2013
Hi David,

As some of the other agents have stated, you should interview several agents.
Make sure they know the area, and work in the area, have years of experience,

The agent should be able to explain to you their marketing plan and how the Memorial Day weekend will affect the showings as well as explaining the current market conditions in your area. In some areas the inventory is raising but other areas not so much.

Brian Ripp
0 votes
The Medford…, Agent, Fremont, CA
Wed May 15, 2013
You ask:

Q: “Over memorial day wk end, should I have an open house. I know there are tons of buyers, but don't want them all to be out of town.”

A: I’d like to suggest that an open house is just a small part of your overall strategy – most buyers visit a home because of what they’ve already seen online. If they can’t attend an open house, they’ll simply get their agent to show them the home at another time that works for everyone. It’s really important that you make access to your home as easy as possible the entire time it’s listed.

To get the maximum exposure possible, we typically hold our listings open for 2 consecutive weekends, so if one of them is a holiday weekend, it really doesn’t matter. There are still plenty of people who will avail themselves of the open houses and lots that will come at other times with their agents.

Q: “Also, how should I negotiate with my listing agent.”

A: This question brings up a critical point: the critical 3Ps of selling your home: Preparation, Pricing and Promotion. Negotiation with a prospective Realtor begins at your first meeting where they explain what they will do in each of these three critical areas. How will they help you Prepare your home to maximize its market potential? How will they coach you on setting the Price? Too high or too low means you’ll leave money on the table. What is their strategy for low appraisals? And how will they Promote your home? Do they provide critical staging at no cost to you? Professional pictures? Custom websites? How will they drive traffic to your home other than open houses (the least effective way to get people into your home) … and so on. If you want them to earn their full commission, make sure you get your money’s worth by hiring the one with the best overall marketing plan and strategy.

Here are a few posts that may be helpful:

Top 5 Questions To Ask A Listing Agent (And 5 Classic Questions That Are Meaningless)

Set the Stage for Maximum Returns

Top 15 Things A Listing Agent Won’t Tell Sellers … (But REALLY Should …)

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Meena Gujral, Agent, Pleasanton, CA
Tue May 14, 2013
Hi David,

What are you referring to when you ask "how should I negotiate with my agent"? It is a great time to sell. All my listings are selling over asking price with multiple offers. It is for sure a sellers market.

There are so many buyers looking for a home right now that even if many are gone for the memorial day weekend, I am sure it will still be a busy open house.

Meena Gujral
Help-U-Sell Achievers Realty
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Alex C., Home Seller, Queens, NY
Tue May 14, 2013
Probably not the best idea to do open house during a long weekend. Not a lot of people will show up.

Make sure your agent is qualified to sell your house. Don't just list with someone who promises to list your house at a higher price. Make sure your agent knows the market and prices you at a price that will get your house sold!

Good luck!
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Manny Tan, Agent, Fremont, CA
Tue May 14, 2013
Hi Seller,

It is still a seller's market.
Memorial weekend is fine and I would do another open house the following weekend
and have a dateline for Tuesday following second open house for offers.
This will give ample time for serious buyers to put their offer together.
Interview a couple of agents and you should be able to tell if you can work with them.

Good luck.

Manny Tan
Intero Real Estate Services
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Joe Patel, Agent, San Ramon, CA
Tue May 14, 2013
You got all the answer you need to list your home for top dollar.this is best time for seller right now.Good Luck!!!!
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Pacita Dimac…, Agent, Oakland, CA
Tue May 14, 2013
Interview at least three agents.....listen to what they say.

With whom are most comfortable with (don't choose someone because he tells you what you want to hear, or because he is "buying the listing" by pricing your property higher than where it should be)

Ask for their marketing plan, and have them explain/discuss the merits of each strategy

Open house isn't what sells the property ---- and that shouldn't be the only tool in the agent's arsenal of marketing strategies.

If you want the best and highest price for your place, you should be willing to do what it takes to accomplish that goal.

And once you pick your realtor, listen to his/her advice.

For example, take a look at: Preparing a house for sale: Do the C’s to get the most C (Cash)
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John Juarez, Agent, Fremont, CA
Tue May 14, 2013
Why would you put your house on the market on a weekend when many buyers are looking for an escape rather than a new home? Yes, I believe that a buyer should be concentrating on looking for their new home and not spending money on a holiday when they need the money for their new home. At the same time, let’s not fight human nature. Put your house on the market after the Memorial Day weekend and take advantage of everyone returning from the holiday and getting back to reality.

Your listing agent should be able to provide aggressive marketing with a consultive approach to the pricing of your house as determined by the current market and condition of your house verses the comps used to determine a reasonable asking price.

For more a in depth consultation, contact me off line.
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Eliane Selwan, Agent, Fremont, CA
Tue May 14, 2013
Hello David,

I honestly do not think Memorial Day will deter any serious buyers - and there are plenty out there as you already know. I am also a relocation specialist and some relocating families are taking advantage of the holiday weekend to come to the Bay Area for home finding tours.

In terms of negotiating your listing agent, you should interview a few. A great agent would be someone one who would focus on addressing your goals, and present you with the most solid and competitive marketing strategy. Being a local expert would help greatly but may not necessarily be your best advocate in some cases I have found.

If you need more information or insight, do not hesitate to contact me.
Best of Luck,
Eliane Selwan
(510) 299-2931
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Cindy Davis, Agent, San Diego, CA
Tue May 14, 2013
From my experience, holiday weekends tend to be very slow for open houses. People are involved with family stuff. Due to the market, you may get some takers though...

I'm not sure I underststand your question about negotiating with your agent. You state you want to give full commission...so am not sure which regoation you are referring to.

Best of luck.
0 votes
Robert Ventu…, Agent, Livermore, CA
Tue May 14, 2013

I think that would be a fantastic time to put your home on the market.
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Michael Tess…, Agent, Fremont, CA
Tue May 14, 2013
Dear Mr Mitchel,
Anytime is the right time to sell your home that works best for you and your situation however I always put a home on the market just prior to the Brokers Tour Day for your area then open house the following weekend and continue to market that week with a final open house that weekend and offers due the Monday late afternoon or Tuesday after the second open house weekend. This strategy has worked over and over again to obtain the *highest possible price" for my seller's just recently netting my Pleasanton seller $72, 000 over their asking price and 16 total offers this price was more than 2005/6
Please review my reviews and if I can be of any help in selling your home please contact me.
If you are not in an area I seevice I would be happy to refer you to highly qualified agents in your area being a state and national director for the REALTOR ASSOCIATIONS I have lots of contacts.
Wishing you the very best and the highest possible price
Michael Tessaro
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