by Stuart Neal
on Wednesday, April 25th, 2018 at 9:10am.
Assuming your home has been positioned correctly for the market, it would not be unusual to get a dozen or more showings within the first 2 weeks to a month depending upon the time of year. It would also be reasonable to expect to receive at least one offer.
What do you do if you have not had an offer? If you have set up ALL of your 8 Home Selling Keys correctly, you only have one choice. Make a price correction!
At this point you may resist and be tempted to offer the following refrain.
“They can always make an offer. Can’t they?”
And you would be right. They, (meaning potential home buyers that have toured your home) could just make an offer, However, if your pricing is too ambitious, they likely won’t.
Here are some reasons why not:
Most people don’t enjoy confrontation. If the potential buyer thinks her offer will be considered insulting to you, she likely won’t make it.
There are always other choices. Because most people don’t like conflict, the buyer will simply pick another home that is more correctly positioned for the market and will therefore be easier to buy.
No one wants to go first. Many buyers will feel that if they make you an offer and you turn it down, (after possibly insulting you) you will then adjust your price but sell it to another buyer who did not go first and insult you in the process. Make sense?
The prudent buyer knowing that you are unlikely to find someone ‘to go first’ will simply wait until you adjust your value proposition, (in this case price) to match the market and will come to you with a good offer.
I have seen some buyers wait many months before they jump in.