A seller’s market is ideal for homeowners who are interested in listing their properties. Because there are more buyers than there are homes on the market, sellers can enjoy more negotiation power, higher asking prices, and more offers – if they use the right strategies. Just because the market is in the seller’s favor doesn’t mean they can easily nab a great profit. It’s still important to price competitively.
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.
The best way you can get the highest offer and make the best return is by generating multiple offers on your home. This pits the buyers against one another and gives you more freedom to find the perfect tenant for your home. This is typically achieved with a bidding war, in which buyers try to pay more than their competition for the house. Not sure how to generate more offers? Here are five ways to attract multiple offers in a seller’s market in Stockton.
How Can I Attract Multiple Offers in a Seller’s Market?
1. Open House
Open houses are great to generate interest in your home. If you market the even properly, you’re bound to get a few people to show up. If you can get a few serious buyers in the room together, that can really motivate fast action, high offers, and ultimately attract multiple offers in a seller’s market.
2. Price
Even though you might be tempted to make the asking price as high as possible, that might be counterproductive. It’s often more fruitful to make a lower asking price to attract enough buyers to get a bidding war going. The result may exceed the listing price you originally made, meaning you get a higher return and get to sell your house faster.
3. Set a Time Limit on Offers
If you really want to motivate buyers to act on your home, you can set a deadline for offers. This will add some pressure when it comes to when and how much they should offer. More than that, if you priced your home competitively, this could generate multiple offers and set off a bid war between potential buyers – one in which you get to make the terms.
4. Stand Out
If you have the money to spare, investing in some great home improvements that make your house stand out could bring in multiple offers. A good rule of thumb here is to keep your yard clean and well-manicured at all times. Add in garden elements like attractive plants and stonework, paint the door a (tastefully) dramatic color that adds a bit of character to the home, update or update the mailbox to spruce up your curb appeal. Create a great patio or deck area to give your home another selling point.
5. Targeted Buyers
This is often overlooked, but it’s a highly effective strategy. If you want to bring in a lot of serious offers, then identify what type of home buyer would be most interested in your home and created a laser-focused marketing campaign to target them.
Use these tips to attract multiple offers in a seller’s market in Stockton. If this seems like a bit time and financial investment, you can always take a simpler route. We’re a house buying company in the Stockton CA area that buys homes quickly in as-is condition. If you want to get an offer now and move on with your life, we’re only a phone call or click away.
Hopefully, you learned a few great tips to attract multiple offers in a seller’s market. 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) 400-6500 and we’ll get in touch with our best cash offer.