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A friend had 2 offers for their house in the first week, surely it was priced below its worth?

Remember the first few weeks after listing any properties have the best chance of attracting penned up demand. All the buyers that have been searching for that “right” property and that have not found it will have a look at the new listing. So the number of potential buyers is highest in the first few weeks of listing. After the initial storm there will only be the natural progression of new buyers entering the market that will look at the listing.

If you receive 2 offers in the first week we have done everything right. Now you are in control and the both potential buyers are in a competitive situation if they want to get the property under contract. Statistically you will yield the highest price for your property if it goes under contract fastest. Once a property has been listed for several months people will assume it is overprices. Therefore if they will make an offer it will be much lower than the list price. When it comes to listing a property time is not on your side.
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