Strategies For Generating Multiple Offers
In Today’s market getting multiple offers has been more difficult, but with an expert Realtor with an expert plan it can be done.
Here are a few tips and tricks our team uses to get multiple offers on our clients homes.
1. List low – auction style. Most sellers do the opposite. They list their homes at a higher price thinking they might just get that price. But ultimately they do more harm than good. If you list your home at a lower price point, you will bring in more buyers and more showings which in turn can create multiple offers. Each one trying to outbid the other knowing that you have multiple offers to choose from. This is a great way to get your preferred asking price for your home. Now we are not suggesting that you give away the farm but just to price your home slightly less than your competition to get that initial interest from many potential buyers at one time, creating a demand for your home. If you are selling your home take a look at your comparables, try to match your price just slightly under your competition.
2. Be very flexible when it comes to showing your home. If a buyer has several homes they want to look at and most of them are vacant or foreclosures and yours requires a 24 hour notice etc. you risk losing that buyer to another home that they looked at before yours. All because your home was not available for showing due to a 24 hour notice requirement. So loosen up your showing requirements and be ready to show your house on a moment’s notice.
3. Make sure your home is immaculate inside and out. That includes your basement, garage, crawl spaces etc. Everything! For our luxury homes, we like to stage the house. It allows for the buyers to see everything your home has to offer.
4. You must make a good presentation. Fresh paint, new carpet if it needs it. Check all small maintenance items such as doors, windows, stoves, faucets, the hvac system. Your home needs to be in move in ready condition. You must stand out above all of the other homes your buyer has looked at.
5. Revisions are good. If you initially overpriced your home and it has already been on the market for a while and you think you cannot implement some of these ideas well then think again.
It’s not too late to lower the price of your home below your competitors prices. You may then find that you have generated multiple offers. Now, due to the demand, you have gotten your original asking price. Because each offer is trying to outbid the other because they don’t want to lose the deal.
Their are so many ways to encourage getting multiple offers, always communicate with your Realtor about what your willing and not willing to do, from staging to a fresh coat of paint even the slightest change can make a HUGE differences.
Thank you for Reading,
The Inman Team
Gordon Inman & Keith Kelley
Your Expert Realtors of the South Bay
