5 ways to attract multiple offers in a seller’s market
In a hot market? Here’s how to approach a sale…
A seller’s market is one in which the seller has an advantage. Often, it means that there are more buyers than sellers: so many buyers are looking at just a few available properties.
But just because you naturally have an advantage in a seller’s market, doesn’t mean you’re home free to sell at massive profit. You should still strive to get as many offers as possible and, in doing so, give you the opportunity to select the best offer for yourself.
Why do you want multiple offers? It’s the simple concept of a “bidding war” – if you get one offer, you might feel forced to take it. But multiple offers allows you to choose from the best one, and even to negotiate from a stronger position.
Here Are 5 Ways To Attract Multiple Offers In A Seller’s Market
#1. Open House
One way to attract multiple offers is to have an open house. If it’s marketed properly you’ll likely get several people looking at your property within a very short period that could increase the number of offers you’ll get at once.
Better yet, do two weekends of open houses. And make sure to advertise them on social media. Facebook has inexpensive ways to target local buyers. Create a post with pictures of your house, only make sure that local people see it, then “boost” it. Since Instagram is owned by Facebook, it will also be displayed on that app.
Even though you might ask for and even get a high selling price, asking for a slightly lower price to attract multiple offers could be a better strategy.
Many Bay Area sellers know and employ this strategy. It is a common way to pack a house. Some will be “lookers” but that’s okay. Your beautiful house just may convince them to buy!
#3. Accept Offers At A Certain Time Only
One way to attract multiple offers is to only accept offers at a certain time. That way, if someone wants to make an offer, they have to comply with your time-frame and you may get multiple offers all at once. A deadline forces a decision, and you have leverage.
#4. Stand Out
Another way to attract multiple offers is to stand out in some way. Take your property to the next level by making it beautiful, memorable, and desirable. Perhaps even paint the door a dramatic color so that it stands out. This will make it memorable in people’s minds and they may add their offer to your growing pile of offers.
#5. Targeted Buyers
A very powerful way to attract multiple offers (although it’s often overlooked) is to identify who might be the perfect buyer for your home and then laser-target your marketing to reach them. For example, if you determine that first-time home-buyers are ideal then stage your home for that buyer and then laser-target your marketing to reach them.
Need help determining who to target? We can help you with that.
Selling in a seller’s market might seem like the best option but one way to get another offer is to have us give you a cash offer for your house.
We’re buying houses in the San Jose, Oakland, and San Francisco metro area and we’d like to make an offer too. Click below to fill out the form or call us at 877-210-6460 and we’ll get in touch with our best cash offer.