Anyone who wants to sell their house or flat should be prepared to make compromises under certain circumstances. Not in every case can the desired sales price be realised within the period desired by the seller.
If a sale is under a certain time pressure from the outset, the owner should consider early on what concessions he is prepared to make if the market does not react quickly enough to the offer. The uncertainty as to whether price concessions should be made in favour of a quick conclusion is usually great. This raises the familiar question of ‘bird in the hand’ or ‘pigeon on the rooftop’.
Perhaps no other buyer can be found within the set period of time or the originally set price proves to be too ambitious even after a longer period of time. An experienced marketer can already give helpful hints when setting the price, take the seller’s situation into account and recommend an adequate course of action.
It may well be worth waiting for the right buyer if the necessary time is available. On the other hand, one should keep in mind the opportunity costs of a longer marketing period. There is no guarantee that you will receive an offer of equal or even higher value than the one you just rejected.
Last but not least, a successful sale of a property also requires the “right nose” and the courage to make a decision at the “right moment”.