In real estate timing is extremely important. We constantly get asked when is the best time to buy or sell a home: "do you think now is the best time or should I wait a month or two or until next year?" No one ever asks what day of the week to make an offer or bring a home on the market.
In general, the hottest days of the week in the Edmonton real estate market are Saturday and Sunday. Sometimes the weekend effect is more exaggerated than others, and currently it seems quite extreme. I think this is partly due to the short days – looking at homes in the pitch black on weeknights makes it difficult to get a good feel for the home.
We brought a new listing on the market a few weeks ago on a Tuesday. By Saturday we'd had over 20 showings with very positive feedback all week, but no offers. Sure enough by Saturday afternoon we had multiple offers above list price – some of those from people who'd seen it earlier in the week. If they'd written their offer sooner they just may have gotten it for a better price. So, if you see something on a weeknight that you think might be the right house for you, don't wait for the weekend for your second viewing – going during your lunch hour could save you some money. Better yet, take a Monday or Tuesday off and go for a full day of hunting when sellers are feeling less confident since their home didn't sell on the weekend, and showings are few and far between.
That brings up the related topic of the best day of the week to bring your home on the market if you're selling. Ideally you should bring it on mid-week, between Tuesday and Thursday. That gives people enough time to find it and put it on their list to view on the weekend. As the market gets hotter, push your "debut" closer to the end of the week – as buyers get more motivated they will act faster.
This does not mean list on a Thursday and put your home on half-assed on a Friday. Your listing should hit the market completely ready – sign up, photos and video done, web site done, highlight sheets on the table – to make the best first impression. In fact, the MLS® listing is the last step we take, to make sure your home hits the market with a bang not a fizzle. It takes us 3-5 days to get everything ready before our listings finally hit the market. We have proven this method to be the best way to sell your home for the most money in the least amount of time… don't expect every brokerage to put this much thought or effort into listing a home.
I agree with your assessment. The property has to be ready to go before the mls listing goes public. You only have one chance to make a first impression, so it has to be done right the first time. You could turn off an eager buyer by not being shipshape right off the bat.
In Honolulu, waiting for the weekend helps the seller and may put you in a multiple offer situation.
Aloha,
Keahi