By following these steps, you’ll leave nothing on the table when you sell.
Thinking of buying a home? Search All Homes
Thinking of selling your home? Receive a Home Value Report
Thinking of selling your home? Receive a Home Value Report
One of the best ways to get top dollar for your home sale is to drum up a bidding war. Today we’ll be talking about some helpful strategies we can use to create a multiple-offer situation when you sell. Here’s what my team and I do:
1. Find the right price: Appraisals are rarely done in today’s market since many buyers are offering cash. However, they can still be incredibly helpful for figuring out where to start with pricing. With clients, I’m able to use my appraisal experience to determine the best listing price for a home — one that’s not too high or too low.
2. Consider other sales: In the past, we looked primarily at closed sales to determine value but today we look at pending sales and also look at active listings to see what comparable homes are being listed for. We want to make sure we aren't leaving any money on the table in an appreciating market!
3. Price the home: We’ll typically price a home above recent comparable sold homes, listing it somewhere in the range between pending and active prices. This gets more buyers in the door, gets agents interested, and gets more eyes on your home; ultimately generating more offers and more money.
"We don’t want to sell on the first day — doing so usually means leaving money on the table."
4. Boost exposure: We order professional photography, create videos, and organize virtual tours to introduce your home to the market. Appealing to online buyers is important, so we want to have a great presentation that truly showcases the home.
5. Have showings: We usually list on a Monday on the MLS to prepare to go live by Wednesday and begin scheduling in-person and virtual showings until Sunday, which is when we host an open house. Quite often, there’ll be multiple buyers and their agents checking out the property and making offers. By noon on Monday, we list the highest and best offer in the MLS. We normally have multiple offers that are well above the asking price.
6. Start the bidding war: After sharing the highest and best offer, we give plenty of time for buyers and agents to make better offers on the home. We don’t want to sell on the first day — doing so usually means leaving money on the table. By doing this over a five-to-seven-day period, we can draw out all the interest in the market and allow everyone an opportunity to bid resulting in the highest price the market will achieve.
If you have any questions, call or text today at (239) 248-8000. I’d love to help you.
