The Portland Condo Blog

SOLD in 1 day!

Have you ever gotten one of those postcards in the mail where the neighborhood agent has “Sold in 1 day!” plastered across the front of the card in which they sold a recent listing? The obvious purpose of this boastful post card is to let neighbors know how good that agent is for selling it so fast,  so that in the future, they call this agent to sell their home! I can’t help but wonder, when I get one of these cards, what would have happened had the agent not accepted the first offer to come along.  Is “selling in 1 day”  the best thing for the seller? Today I heard a story from another agent in my office who showed a home to her buyers last night who really liked a home. They were there for sometime, in fact, they were there untill 9:30 viewing the property. This was the second time yesterday that the buyers looked at the home. Obviously these were serious buyers! This morning, the buyers agent called the listing agent to say that her clients wanted to make an offer. The listing agent said she was sorry but they had an accepted offer already… at 9:00 in the morning! Yahoo… SOLD in 1 day! Here is the problem. The listing agent had a steady stream of potential buyers through the home the first day and did not bother to call all of the agents to see if their clients had an interest in the property. Had she done that, she most likely would have gotten additional offers that may have boosted the selling price for the seller. Especially bothersome is the fact that this agent had an interested family viewing the home until 9:30 the night before and that buyers agent never got a call from the listing agent to see if the buyers had an interest in making a “competing” offer, something this agent SHOULD be doing to get her clients the best price and best situation for selling their home! In all of my years in the business I have never had someone at one of my listings until 9:30 at night unless they were really interested in a property. And if this is the case, why would an agent not call and try to get her seller a better price and more favorable terms?

Sometimes it’s ok to have a listing on the market longer than a day! Why would you not want to expose that listing to as many buyers as you can that first week or so in order to generate the very best deal for the seller? Next time you get that “SOLD in 1 day” postcard in the mail from the local real estate agent, you may want to think twice if that is the right agent for you.

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