[/s2If] [s2If is_user_logged_in()] Time is of the essence in real estate, but are there times when waiting is worthwhile?
Is it always best to start showing a property as soon as possible, or can waiting a few days after listing the property be a good selling tactic? Occasionally, agents will resort to deferred showings—listing a property on MLS but then delaying showings for a few days— to build anticipation for a property and avoid settling for early offers.
The idea is that more people will have a chance to see the property listing before it is open for showings, and when it does open up for showings, there might be more interest from multiple parties, perhaps resulting in multiple competing offers. A deferred showing could avoid the scenario where a seller settles for an early offer when he or she could have gotten a higher bid. Some agents even set an open house as the first showing after deferring showings for up to seven days.
However, FORCE members Karen Karr at RE/MAX Town Center in Ohio and Kathy Williams at eXp Realty in Texas advise against deferred showings.
“In this market, there is no need or reason to defer showings. Showing a property as soon as it hits the market or even prior is the best way to get it in contract and sold as soon as possible,” Karr says.
Williams says she agrees. When representing buyers, Williams says deferred showings can be inconvenient. In fact, for a relocation buyer, a deferred showing may be more than a minor inconvenience—it may deter the potential buyer completely.
On the seller’s side, Williams doesn’t see much of an upside either.
“If it doesn’t sell right away, people will see it’s been on the market two weeks and isn’t selling and think they can get a deal on it,” Williams says. People won’t know it was listed on MLS for two or seven days without showings. “It doesn’t benefit the seller,” Williams says.