Yes, if the house isn't under contract before the second weekend, it will take a price cut to sell. Either it is overpriced, or there is something wrong with the house: on a six-lane road for example, or needs major work such as foundation repairs.I think the premise is that as DOM (days on market) increases the house becomes less desirable, all other things being equal.In fact, one thing I never understood about my local market is that in a hot market, sellers' agents will set a date to receive "highest and best" offers - and that date is right after the first and only open house. Why have only one open house? Have two, and increase the number of people who see it. Not everyone is available THIS Sunday from 2-4, but they might be free NEXT Sunday. What's the hurry? Maximize views, and make clear to everyone when the offer date is. But I was told it's simply not done.
Statistics: Posted by FeralCat — Mon Sep 30, 2024 9:20 pm — Replies 25 — Views 1896