It’s every seller’s dream… multiple offers. That’s the best way to drive up the price of your home, but getting it isn’t exactly common. Typically one of two things happen: an offer is quickly made or the house sits on the market, slowly dropping in price. There are ways to improve your chances of getting multiple offers if you follow these 5 tips.
1. Price your home correctly and aggressively.
If you’ve seen an auction you know that they always start with a low asking price and bids go up from there. Houses aren’t necessarily any different. Whether someone is bidding on Ebay or with an auction house it’s the low starting price that gets people excited about capturing a deal. This doesn’t mean you should give your house away. Evaluate the comps and the market and make sure you are listing at a slight value. This will give you a good starting position to light the fire of interest in your house.
2. Make your home available.
This may sound easy or obvious, but when real life comes into play it gets tricky. When you have to keep the house clean and be able to step out for a private tour repeatedly, it is a bit more challenging. It’s inconvenient, but can really pay off. Just look at the statistics. If a buyer has 25 properties that fit their criteria, but only have time to see 8. Those properties that they visited are more likely to get their offers. If your house is not available it will not be getting the offer.
3. Make it coveted.
If you want multiple offers on your home then you need to make it more than just “better than the competition. You want buyers to love it so much that they will compete with other and be willing to pay more than listed price. Better won’t cut it. This means immaculate cleaning, a total declutter and with amazing staging and everything must be in perfect working order. Fresh paint, new carpet, stop the creaks and make sure your home is a perfect oasis.
4. Market your home properly.
No one can buy what they don’t know is for sale. A sign in the yard is not enough these days. Your property has to be online, as 90% of buyers search for homes online. In the old days there were news paper ads, but today it’s all connections. If the buyer didn’t find the property online, chances are they found it through an agent. Before you list with an agent, make sure you know how and where they are marketing your house to make sure it’s going to yield the most results.
5. Be ready to adjust.
The longer your house sits on the market, the worst position you are in. But don’t fret if your house doesn’t sell right away. If you take an offer on day one you are not giving yourself time to receive multiple offers. Review your local market statistics to find what average selling time is in your area. When you reach that point without an offer, then it’s time move quickly and change strategies. Lowering your price just a little won’t get it done. You need to move to the next lowest bracket to find that sweet spot. In the sweet spot you’ll be able to get multiple offers because of the value. It’s very difficult to find and may be lower than you expected, but when you’ve lost the excitement of being a new house on the market it, it is required.
Strategy is important when selling your home. Make sure you have a solid plan in place for the best possible results. To get all the facts and market information in your area, call Helen today at 847.967.0022 or email [email protected].