Deadlines bring about results and your home sale in the Boston metro area is no exception. They also bring about high returns! This year alone has seen "58 percent of home listings with published offer deadlines sold above list price," according to real estate firm Redfin. Those with other deadlines also were known to have been on the market for less time (31 days on average), as compared to those without deadlines (on the market for 60 days).
However, these "published offer deadlines" are rare in the local real estate market. This means a real estate agent, or even home seller, has stated a specific date for offers on the home. Redfin reported as little as 4 percent of listings include a deadline.
These offer deadlines are not typically long—many of them just a few days— and allow home sellers to look over all deadlines at once. In today's market, we're starting to see more bidding wars and deadlines can be one contributing factor. Deadlines are often a sign of confidence in a home and its listing price, which can lead multiple homebuyers to place an offer.
How do you let the buyers know your listing has a deadline? Keywords in the listing like "offer" and "bid" coupled with words like "due" or of course, "deadline" can indicated listings published with a date in mind. These dates act as a jumping off point for homebuyers to make a move— since many delay making a decision in Boston real estate, a deadline can oftentimes help them focus and put an offer on a property they like. These work to both the homebuyer and home seller's benefit.
It's a seller market out there and a deadline can help you choose the best offer out of many. As your Boston real estate expert, I'm here to help you with all of those decisions that come along the way, from listing the property to accepting an offer. Let's chat today on the best home sale strategy for your Boston property.
Ken Snyder
Keller Williams Realty Boston-Metro
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