real estate

Home-seller errors: Rejecting early offers

4 emotional mistakes made by home sellers
4 emotional mistakes made by home sellers © Yuri Arcurs - Fotolia.com

4 emotional mistakes made by home sellers

Sellers be warned: The longer a property sits on the market, the worse the offers are likely to get, says Nick Jabbour, a New York City real estate agent and vice president of Nest Seekers International.

"Once a property is marketed, it will receive the most attention during the first two weeks," Jabbour says. "(The home is) new to the market, and any buyers that have been in the market for a home will see it come up. If it is priced right, an educated buyer, (who has) been in the market for a while (and) sees the home as a fit, will put a serious foot forward."

Sometimes early bids run the risk of spooking sellers who worry they underpriced their properties. But Jabbour says you can tell the property was priced correctly when an early offer is near the asking price, as long as the asking price is in line with the market.

"Waiting for a better offer is counterproductive and can result in a property languishing," Jabbour says.

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