By: Jessie Lee April 8, 2019

How to Get Multiple Offers When Selling Your House

When there’s a lot of competition in the market, and you are a seller wishing to attract buyers, there are a few things you can do to turn things in your favor.

Reports say that there are more homes for sale these days than there are buyers purchasing. Therefore, as a seller, you and your agent will need to be strategic with your initial pricing and marketing plans, in order to move your property at a reasonable timeline.

Let’s examine a few set of rules both sellers and agents may want to implement to land offers. Getting it right the first time around is key.

Photo: HuffPost

Below are five details to focus on as you prepare your house to sell in a competitive market:

Pricing
Staging
Marketing
Showings
Attitude Adjustment

Pricing

Photo: Time 4 Tutoring

Look at the comparable recent sales and active listings in your area, and work with an agent to price your house properly. A buyer’s market is not the time for unreasonable pricing because you have a lot of competition, and buyers are now looking for deals and rarely bid at asking price.

When pricing, it’s best to factor in a cushion for negotiating. Set your price within the range to lure in buyers. Underpricing may work best in a seller’s market, but when buyers have the upper hand they are rarely bidding properties up, and so if you underprice, you may end up with offers even lower than the price you listed it for.

Staging

Photo: Trulia

Because you are competing with other sellers, you will need to up your game and freshen up your property’s decor and paint, or have it staged. The investment will costs you money and time but make that first impression count because it will pay off. Staged properties typically sell 6% more than un-staged or vacant properties.

Marketing

Photo: National Association of Realtors

About 90% of buyers shop online prior to visiting the place in person, so to make the cut, be sure that your online listing photos and marketing materials are of the highest caliber and quality, and appeal to the widest pool of potential buyers. Your photos must be stunning.

Most importantly, work with your agent to review and plan a comprehensive marketing strategy that best suits your specific property, which might involve a combination of a custom video tour, social media advertising campaign and print or digital advertising.

Showings

Image result for people locked out

Photo: Cottage Blocker

Make your property accessible to buyers, which means being able to make yourself available or getting yourself a lock box. Make the process as easy and smoothly for your potential buyers as possible. This is also why agents schedule open houses on weekends.

Attitude Adjustment

Photo: DemandZEN

Listen and educate yourself with the current market conditions in your neighborhood, and ask your real estate agent for recent comparable closings and active listings to determine how to make your property marketable.

If you are not in a hurry to sell, you may want to consider re-listing your property when market conditions are more favorable to you.