Saturday, October 29, 2011

Is There a Best Day to List a Home?





I saw a report that suggests that the day of the week you list your hame can have an impact on how well your home sells. 

This is what the (U.S.) report revealed based on over a million listings over almost two years.

The results: 
Homes listed on Sunday get marginally more online views.
Homes listed on Friday are toured 19% more.
Homes listed on Friday or Thursday sell for slightly closer to original list price.
Homes listed on Friday are 12% more likely to sell in 90 days.

Friday appears to be an ideal day which is based on the idea that since Saturday and Sunday have 2.5 times as many tours per day than Monday to Friday, homes listed on Fridays are the freshest in buyers' minds.

There are comments from real estate agents that indicate Thursday is a better day since some agents might line up their weekend showings early Friday and could miss a late day Friday listing, but a professional sales representative should always be checking for new listings for their buyers. 

One downfall to this wait until Friday idea is the fact that the sooner a home is listed the sooner it can be advertised to potential buyers and if you wait a couple days to list, a seller could have their potential buyer putting in an offer on another home that is already on the market. 

Although this is an interesting study that probably has more bearing on the amount of early traffic through a newly listed home, the fact remains that a home properly priced, maintained, showcased and located in an ideal neighbourhood will sell faster and closer to a reasonable listing price no matter what day of the week it's listed. 

My thought is that you can't do much about location if you are the seller, but you are in control of price, maintenance and showcasing your home.  Concentrate on these three key areas when listing, then take this study into consideration to fine tune your potential for a sale.
   
(Study Source Redfin)

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