Good in May > Perfect in June
“Good is the enemy of the Great.”
–aphorism, Voltaire
“Great is the enemy of the Good.”
–real estate corollary, Ross Kaplan
At least a few Twin Cities Sellers this Spring are making a strategic mistake prepping their homes for market.
Namely, they’re taking too long.
So, instead of listing now, when conditions are white-hot in many affordable, high demand neighborhoods, some Sellers are taking an extra week (or three) to make sure that things are . . . just . . . so.
Fussy Buyers Sellers
That’s a terrific instinct around the holidays, when the market’s quiet.
But it’s hardly the case now.
Too, at least in my experience, past a certain point of market readiness, home prep suffers from the law of diminishing returns.
My 2¢ (and that of other veteran agents): much better to be on the market in early May, in very good condition, then hit the market in perfect condition 4-6 weeks from now . . .
**After the housing crash in 2007-2008, Realtors were worried about a shadow inventory of foreclosed homes that banks supposedly were ready to dump on the market at any minute.
Today?
There appears to be a new shadow market: a record number of withheld listings (under contract with a broker, but not yet on the market) due, at least in part, to the market’s strength: with a dearth of inventory, would-be Sellers are delaying until they can find their next home.
See also, “Coming Soon! New Movies, Music . . . & Residential Listings“; “Coming Soon!”: How Good Pre-List Marketing Distorts Days on Market“; “Have a House/Need a House”; “Jumping the Gun on Networking”; and “Does Networking Really Work?“
