Are you considering selling your property and it happens to be a seller’s market? Well you may want to keep reading this blog post to find the 5 ways you can attract multiple offers in a seller’s market in Stockton…
A seller’s market is one in which the seller has an advantage. The reason why is because there are more buyers than houses for sale. With so many buyers looking at just a few available properties it gives the seller the upper hand.
But just because you naturally have the upper hand in a seller’s market, this doesn’t mean you’re guaranteed to sell at massive profit. You still need to try to get as many offers as possible and, by doing this, it gives you more opportunity to find and select the best offer for you and your situation.
Why would you want to get multiple offers? It’s the simple concept of a “bidding war” – if you get one offer, you might feel forced to take it because you never know when the next buyer will come along . But multiple offers allows you to choose from the best one, and even to negotiate from a stronger position. Just remember not to be too demanding that you scare off a potential buyer, you want to have balance in this situation.
Here Are 5 Ways To Attract Multiple Offers In A Seller’s Market In Stockton
#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.People buy what they see, they also make decisions faster when they see the competition.
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. Once they make an offer they commit in their mind that this is the one, they begin to see and plan their future in the house. When this occurs and they hear about multiple offers they tend to make and emotional decision and sometimes end up offering more than what they normally would have, that just may exceed that higher listing price you were considering.
#3. Accept Offers At A Certain Time Only
A good way to attract multiple offers is to only accept offers with in a certain time-frame. That way, if someone wants to make an offer, they have to comply with your time-frame. You may get multiple offers all at once and possibly with better terms.
#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. Keep your yard clean and well manicured at all times. Replace any old exterior fixtures and even an old faded mail box. Perhaps even paint the door a dramatic color so that it stands out from the rest of the homes for sale. 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 homebuyers are ideal then stage your home for that buyer and then laser-target your marketing to reach them.
In a seller’s market you might normally attract multiple offers anyway – but the more offers you get, the better. Use these 5 ways to attract multiple offers in a seller’s market in Stockton.
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 properties in the Stockton CA area and we’d like to make an offer too. Click here now to fill out the form or call us at (209) 743-0602 and we’ll get in touch with our best cash offer.