When listing a home your days on market can be your friend or foe.
When your listing is new and your days on market are low, you have an advantage when negotiating with buyers since in the back of their head they are always concerned that there may be other buyers interested normally leading to higher bid prices.
On the other side of this coin are higher days on market. Once the days on market are on the higher side buyers take the opinion that you should be happy with their bid at almost any price since you are lucky as a seller to even have a bid. They also tend to believe that there must be something “wrong” with the home to be for sale for so many days.
As an example, I recently had buyers interested in a home that had been for sale for over a year but they did not want to view it since they believed if no one else wanted this home then why would they. In this case with a little digging I found out that they had been under contract for a long period of time with a home sales contingency that never worked out therefore adding days on market when the home was not truly on the market.
Gone are the days when you could pull a listing out of the MLS only to relist it minutes later with a clean days slate. Trend repaired the issue with a 30 day waiting period so if you ever find your days on market very high and want to reset the days you may have to pull your home off the market for 30 days to reset it, which overall in the end may help more than hurt.
For specific questions please do not hesitate to ask. -Pete
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