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How to Receive Multiple Offers When Selling Your Home Fast?
Posted by Matthew Boreen
on Saturday, 12 November 2011 in Real Estate One Stop Shop Blog
Matthew Boreen
Founder of RealEstateSwap.com. I kiteboard, snowboard, work with robots, study AI, and play jazz clarinet.
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According to Zillow.com, the percentage of home ownership is at its lowest level since 1998. The housing market has been hit with a high inventory of homes, underwater mortgages, and a flood of foreclosures. There may be a silver lining ahead though as houses begin to be on the market for less time, interest rates stay at historic lows, and gradual job increases bring more potential buyers to the table.
First - Your Property. To get multiple buyers wanting your house over any other home in your area, you will have to eliminate any and all objections a picky buyer may point out. Things like curb appeal, clutter, paint colors, fixtures, and any work left incomplete. You have one chance for a first impression and your goal is to get the buyer emotionally attached to the house as soon as possible.
Second - The Price. Maybe the most important factor for receiving multiple offers is where you price your house. Understand that your buyer is very smart and knows what your home should be priced at. Most buyers have spent weeks researching homes online and more than likely have looked at over a dozen houses before stepping foot in yours. They also know that there is a surplus of inventory right now and they will only buy if they are getting a deal. The price of your house has to drastically stand out from your competition.
Third - Agent Incentives. Buyer’s agents are now more then ever hungry to get paid. They are in no way interested in showing a buyer thirty plus homes and never making an offer. As a seller, offering a buyer’s agent cash incentive will give Realtors reason to get their buyer excited about your home. With the home looking good and priced well, the agent will have an easy time explaining why your home is a great buy and how it won’t last long.
Fourth - Delay The First Showings. The most activity a house receives is when it is first listed. If the above three factors are in play, there will be a flood of activity on your house. An old trick is to set a delayed showing date for seven days after the house is listed. On that day, you will have multiple buyers and agents going in and out of your house, giving the impression that the house is going to be sold fast. This frenzy will eliminate buyers trying to put in low offers on your home and may even force them to offer more than the house is listed for.
In Conclusion, selling your home fast for the most amount of money is critical for any seller. In this down real estate market, being creative may be the only way to accomplish this goal. Understand that research and knowledge of your real estate market is the most important factor when selling your house fast. Being ignorant to these conditions will not only reduce the chances of getting an accepted offer, but it will increase your odds of your home sitting on the market for a long time.
Tags: agent incentives, buyers agent, multiple offers, price right, sell your home, sell your house, sell your house fast, we buy houses
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