There is only one first day on the market. Use it wisely, and the market energy will work for you. All of the evidence needed to know the outcome of a strategy is available. Trust the evidence. Test the market at your peril.
Buyers Sit Waiting for the next new listing. The buyers’ pool includes those who lost out on the last new listing and those who have just entered. Their commitment level will vary. Some have not learned what others know. Those who know what is necessary to get an offer accepted paid the price for the education. They’re in no mood to let a novice edge them out.
Appeal to The Entire Pool of buyers to receive multiple offers and know most of the proposals will be unacceptable. That’s OK. An inadequate offer and a fair offer have the same effect on the persons competing for your acceptance. When you know the terms, and the pool of buyers only knows you have more offers than just their offer, you’re in control. The appearance of control of the conversation is the leverage you need. Even if you have ten offers to consider, only a few have any chance of being made acceptable. But only you know that for sure. Appeal to a broad base, attract the most offers, and you will be in the position to structure the terms of at least one offer to suit your objective.
Don’t Test The Market; it doesn’t like to test. When the evidence about the market and where the property fits in the market are clear, the opportunity to capitalize is significant. Ignoring the facts and testing a hypothesis or reaching for the stars is a strategy likely to fail. The consequences of missing the market gets compounded when the leverage shifts away from you to the buyer.