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Should you take an early offer?

By Heather Mellican

Listing your property in this digital age now means the buyers are coming, ready or not. Thanks to the internet, real estate marketing is instant, with hundreds of buyers looking at your property in a matter of days of it going online.

However when an early offer comes in, seller’s begin to ask the big questions. Is it too early? Could I make more at auction?  How long should I keep my property on the market?

In most campaigns, 75 per cent of the enquiries and inspections will occur in the first 21 days. If you decline the highest offer that comes from this period, you are essentially working in the belief that the best buyer will be in the 25 per cent that enquire and inspect after day 21 of the campaign. Although the odds are greater in the first 21 days, that doesn’t mean you won’t have the perfect buyer after that period.

Nearly 30% of auction sales have been made before the big day over the last two years.

There is no right or wrong answer as to whether you should take an early offer as it depends strongly on you and your agent’s price expectation. Every sale has a different dynamic so ensure you evaluate and consider every option thrown at you.

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