What Happens When My Home is on MLS
Congratulations, your home is now on the market and all the hard work you’ve put in thus far should start paying off soon! So far you’ve done a lot of prep work to get your home market-ready. Now it’s our job to bring you an offer. In this article, we will walk you through what to expect during showings and using my Simple Move Method, will help make this process as smooth as possible.
1. What is MLS?
The MLS, or Multiple Listing Service, is essentially the heartbeat of the real estate market. It's a comprehensive database that real estate professionals use to list properties for sale. Think of it as a massive networking platform for real estate, where agents cooperate to buy and sell homes. Exciting, right?
Generally, it takes 24-36 hours before we get our first showing request. As soon as a request comes in, we will let you know via text, email, or phone depending on your preference. Usually, we ask the buyer’s Realtor to give us a few hours for an appointment, but it’s not unusual to get showing requests in the AM for that afternoon or evening. So, when you leave each day, plan to have showings even if we don’t have one on the calendar. If that is an issue due to pets at home, kids, etc. let us know, and we can require 24 hours' notice.
2. Approve, Deny, or Reschedule
Once a showing request comes in, you can approve it, deny it, or ask for a different day/time. Remember, the quicker we can get buyers into your place and the fewer showings we have to deny or reschedule, the quicker we can get your place under contract. Our mantra is that the buyer shouldn’t have to work around our schedule, which is why we always put a lockbox on every property we sell. We want to get buyers in as quickly as possible and, in order to do that, we need to work around their schedule.
3. Duration of Showings
Typically showings last 15-30 minutes. You’ll need to be out 15 minutes before the appointed showing time in case the buyer and his/her Realtor are early, so plan to be out of the home for 45 minutes for each showing request. For example, if a showing is scheduled for 5 pm, please be out by 4:45 pm and don’t come home until after 5:30 pm.
4. Feedback from Buyers
As soon as a showing is finished, the buyer’s Realtor will immediately get an email asking for feedback and if their client is interested in the home. Unfortunately, only about 30% of Realtors take the time to give feedback. If we receive feedback, we will immediately forward it on to you via email to review. Don’t be surprised when we don’t get feedback and don’t be offended by feedback. We’re looking for that ONE buyer who loves your home. For most, your home won’t be the right fit for various reasons, but we only need to find one.
5. Reviewing the Listing Sheet
Lastly, we will send you a copy of the listing sheet to review, prior to listing going live. Please review it carefully and let us know of any errors. In addition, if you didn’t like how we phrased something or feel we left out an important point, let us know. Remember, we’re a team, and we want to get your house sold just as much as you do!
Navigating the showing process can be exciting and nerve-wracking at the same time. Remember that communication is key during this phase, and we are here to guide you through every step. Trust the process, and soon enough, you'll find the perfect buyer who falls in love with your home.
Can I request changes to the showing schedule once it's set? Absolutely! We understand that things may come up, and we will do our best to accommodate your needs. Just let us know as soon as possible, and we'll work with the buyers' agents to make the necessary adjustments.
How long does it typically take to receive an offer after showings begin? The timeline varies, but some homeowners receive offers within days, while others might take a few weeks. Rest assured that we will keep you informed throughout the process and work diligently to get you the best deal.
What if I receive multiple offers? Congratulations! We'll discuss each offer with you and help you evaluate the terms, contingencies, and overall fit for your needs. From there, you can make an informed decision.
Is there anything I should do during showings to help make a positive impression? It's best to leave the home during showings, but if you're around, give buyers space to explore on their own. Some soft music and pleasant aromas can create a welcoming atmosphere. However, let your home speak for itself; it's usually best not to follow buyers around or be overly chatty during the showing.