How to Aim for Multiple Offers When Listing Your Home

December 12, 2014
House with Sold Sign

Homeowners getting ready to list their property are eager to sell their home quickly and for the highest possible price. No one wants their home to linger on the market while they have to keep it polished day after day, but at the same time no seller wants to give their home away at a rock-bottom price.

Local market conditions dictate how fast your home will sell and at what price, but there are steps sellers can take to maximize their chances at receiving a strong offer and, ideally, maybe even multiple offers.

Here are a few things you can do to increase the likelihood of multiple offers.

• Price your home to entice buyers. Make sure your agent does a thorough comparative market analysis (CMA) and has strong knowledge of the market in your neighborhood.

• Understand your competition from the start. Buyers today have more information than ever at their fingertips and often understand that an overpriced home may not appraise for the full value of the contract.

• Consider pricing a little low. If homes similar to yours have experienced competition among buyers, discuss the possibility of pricing your home slightly below market prices with your agent. It may generate excitement and competitive offers.

• Make your home as attractive as possible. Buyers are often unwilling to look past flaws, even if they are minor cosmetic repairs. Make sure your home is well maintained and pay attention to curb appeal, bathrooms and kitchens.

• Ask your agent how they’ll market your home. You want them to be a savvy marketer, use stellar professional photos and make sure your home is listed on as many websites as possible.

• Sweeten the deal for would-be buyers. Consider offering to pay some closing costs, buying down the purchaser’s interest rate or paying one or more discount points. Offering financial assistance may lead more people to put an offer on your home.

When you get ready to sell your home, consider talking to a Long & Foster agent. Long & Foster offers multiple divisions that can help sellers, including marketing and settlement services, and the company provides a wealth of market data to agents and their clients in their Market Minute, Market Conditions and LuxInsight reports.

All Long & Foster agents can leverage the company’s broad network, not only in the agent’s own office, but also across the entire firm and its global affiliates like Christie’s International Real Estate and Luxury Portfolio International. Additionally, Long & Foster’s agents have access to local, trusted resources such as moving companies and contractors to make every move as smooth as possible.