How to Get Multiple Offers on Your Home

You’ve probably heard that bidding wars are back. But even if sales are picking up in your market, it doesn’t mean you’ll automatically have multiple people interested in buying your home. You can increase your chances if you have the right ingredients. Here’s how to get multiple offers on your home.

Your home must have a good location. If your home is on a busy street, not in the best school district, or near a freeway on/off ramp, you probably won’t receive the kind of activity a well located home would. In that case, work closely with your agent to price the home appropriately, to ensure you get the most traffic possible. Without the traffic, you won’t have any chance for multiple offers.

Your home must be priced right. It’s nearly impossible to pin an exact number to a home until buyer and seller sign a contract and close. Until that time, agents can provide sellers with a value range. Have a good location? Does your home show well? Are you in a strong sellers’ market? If you price your home on the bottom of that range, you’ll be sure to attract buyers—and possibly receive multiple offers.

Your home must show well. Most buyers today develop an emotional connection to a home. They want to imagine themselves living there. So what does that mean? Your home should appeal to the masses. Give buyers what they want. Make cosmetic upgrades if you can afford it. Invest in some staging. Turn your home into a ‘product.’ And make sure you have great, professional photos that also show well on mobile devices.

Understand that real estate is local. Just because you hear about bidding wars on the national news doesn’t mean it applies to your market. That’s why it’s important it is to work with an agent who really knows your local market. A good agent has likely toured all the nearby homes for sale as well as ones that sold over the past six months to a year. Having walked inside those homes, and personally knowing the agents who sold them, can help you price your home to attract multiple offers—or at least one good offer.

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