Ideal closing date would be June 2 with 24 hour possession.”
–“Agent Remarks” field for a new listing on MLS (April 9, 2021).
Put it this way: at the depths of the Housing Bust (actually, a double-bottom) more than a decade ago, Sellers were thrilled simply to get an offer.
Never mind a good one, never mind several good ones, never mind about getting their preferred closing date or move-out time.
Home Sellers (and their listing agents) are now so (over)confident, they can practically dictate their closing terms before the home has even been shown!
Seller Hubris? “Nah” (for Two Reasons)
So, is it a marketing faux pas to tell prospective Buyers (via their Realtors, in “Agent Remarks”) when the Seller prefers to close?
One. The general public can’t see it (as the name says, only “Public Remarks” on MLS are visible to everyone).
Two. The listing agent isn’t wrong — about the home likely selling fast, if not attracting multiple offers (Disclosure: I know the agent in question, who’s excellent, as well as the Edina neighborhood where the home is located. Unsurprisingly, the home appears to be very well priced and marketed).
In fact, given today’s overheated market conditions, I’d argue that the listing agent is simply being efficient — vs. endlessly repeating the same thing to dozens of Buyers’ agents the next few weeks.
I mean, “the next few days” (I mean, “hours??”) . . . 🙂
P.S.: “24 hour possession” means that the Seller has one day to empty the house after title has officially passed to the Buyer at closing.
Translation: the Seller no longer owns it.
Given that the standard practice is immediate possession, that’s another “pre-negotiated” Buyer concession to the Seller.