3 Techniques for Generating Multiple Offers

Selling a home can seem like a monumental task.  For those of us in the business, we know there are steps you can take to not only sell your home, but generate multiple offers for your home.  Of course, no technique works every time, however, there are things you can do to contribute to encouraging multiple offers.  

Consider Pricing for a Bidding War

Your realtor makes recommendations on the value of your home, based on your neighborhood, your home’s assets and drawbacks, and the sale of similar homes in the neighborhood.  This is a science, but it is not an exact science.  You will not, for example, be told, “Your house is valued at $247,500.”  Instead, your realtor will value your home, for example, between $235,500 – 260,000.  Many homeowners feel the urge to list the home at the high end of the range.  But recall, the home’s range is based on the factors discussed above.  If you list your home on the low end of the range, you increase the number of people who will come see your home.  This increases the number of people who will bid on the home.  Multiple bids generate bidding wars.  This can result in your home selling in the higher end of the range, even though you listed it at a lower price.

Provide Generous Access to Your Home

Recall that not everyone has the same schedule as you.  When people are looking to buy a home, they generally set aside a chunk of time to tour homes with their realtors.  If your home is only available for viewing between 2 pm and 5 pm on Tuesdays, you may decrease the number of people who can view your home.  Consider instead, opening your home for generous periods of time every day to allow as many showings as possible.  

Set Expectations

Consider listing your home on a Wednesday or Thursday.  Plan an open house over the weekend.  Make it clear in your listing there will be a review date, a day or two after the open house.  At that time, all offers will be reviewed and considered.  Publishing a timeline for your home’s market exposure puts buyers on notice that this is a limited time opportunity.  This tends to generate more interest as there is a sense of urgency.

Selling Your Home?

If you are considering selling your home, contact the realtors at Re/Max Hallmark Realty Ltd.  Our experienced realtors meet with you to discuss your home, your needs, and your future plans.  Let us help you determine a reasonable price for your home, and develop a strategy for selling it quickly and to your satisfaction.

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