Are you thinking about selling your property and it’s currently a seller’s market? Keep reading this blog post to discover the 5 ways to attract multiple offers in a seller’s market in Houston…
A seller’s market is one in which the seller has an advantage. During this time, sellers are in high demand as buyers search for a home to purchase. The housing market goes through shifts, sometimes you’ll have a buyer’s market, and other times you’ll have a seller’s market. When it is a seller’s market oftentimes, it means that there are more buyers than sellers: so many buyers and not enough listings or inventory creates competition in the market.
But just because you naturally have an advantage with the market conditions, doesn’t mean you’re home free to sell at massive profit. You should still strive to receive multiple offers when selling your home, by doing so, you will allow yourself the best opportunity to getting the price you’re looking for.
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 having multiple offers allows you to choose from the best one, and even to negotiate from a stronger position.
Multiple offers will also put you in a position to possibly sell faster than you normally would in a buyer’s market. If you have a home that you have been thinking about selling but were not quite sure about, then maybe a hot seller’s market will surely convince you that now is the perfect time to sell.
Here Are 5 Ways To Attract Multiple Offers In A Seller’s Market In Houston
#1. Open House=More Showings
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. With the low number of homes on the market, you’re bound to attract several potential home buyers. Having more buyers view your house will surely create a bidding war for you.
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. By pricing lower than other homes for sale on the real estate market, you will have multiple buyers throwing offers at you, in turn, your original price will shoot up. In a scenario like this, it’s not uncommon to get multiple offers over the asking price.
#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. You’d be surprised at how many buyers will go into bidding wars with themselves just because they have to wait for a particular time to submit their offer. This strategy alone can help you receive the best offer possible for your house.
#4. Stand Out From Other Homes For Sale
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 homebuyers are ideal then stage your home for that buyer and then laser-target your marketing to reach them. Make your home feel like a potential dream home for 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 this housing market in Houston.
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.
Try not to wait too long, once the market shifts back to a buyer’s market the number of homes for sale on the real estate market will increase. This will make selling a home much more difficult as buyers’ demand for houses will decrease. Once this happens you might find yourself with fewer opportunities to get the best offer you possibly can.