Multiple offers and how sellers should handle correctly
You have a lot of advantages when receiving multiple offers on your home, now it’s all up to you and the real estate listing agent you are working with to handle this correctly. View our insightful video below on our advice to home sellers in handling multiple offers. Also scroll down to read our original article we wrote on tips on getting multiple offers.
This video on how to handle multiple offers was presented by Ken Tritle, co-author and co-owner of DreamWellHomes.com©, and at the time this video was taken, Ken Tritle is an active DreamWellHomes real estate listing agent in San Diego County, DRE# 01892793, with Richard Realty Group in Carlsbad, California.
How to get multiple offers on your homeThis article was written by Jean Tritle, co-author and co-owner of DreamWellHomes.com©. At the time of writing, Jean Tritle is also a Real Estate Salesperson, DRE License# 01777754 with Richard Realty Group in Carlsbad, California.
A few ideas you can use to increase your chance of receiving multiple offers, whether in a slow or up market
Get Your Pricing Right
Pay attention to neighborhood market trends provided by your listing agent and make an objective decision of pricing your home correctly. You have three options. You may price your home at market value, below market value , or over market value. The choice is yours and there are repercussions when you don’t pick the right choice. Get a home value report and act accordingly based on market conditions and comparable home sales trends. This is one thing that you want to do right and enlist the help of a knowledgeable listing agent in your area with plenty of resources to get you the most relevant home sales data.
Presenting your home in a clean, clutter-free, and staged condition
Some homeowners take a couple of weekends cleaning their home, de-cluttering, and staging whether on their own or with the help of a professional home staging company before putting it on the market. This ensures that your home shows beautifully both on online photos and in person visits. Some real estate listing agents provide a complimentary staging consultation as part of the services they offer. Get to work on helpful suggestions especially those items that are easy to do at such little cost like cleaning and de-cluttering to make your home smell and look good, feel more spacious and welcoming thus increasing your chance of generating multiple offers.
Making Your Home Super Easy to Show
Being Flexible to have buyers and agents see it when they are available to see it, not when you are available to show it.
Once your home is put up for sale on the market, many buyers and their agents are instantly notified of this new listing whether online or on the local MLS. Instant gratification is the name of the game. Some buyers and agents want to see your home with as little notice as possible. Requiring 24-48 hour notice may make sense to you but can be difficult for those who want to see it when they are available to see it, not when you are available to show it.
Tip: Plan on having your home available to show most of the time during the first week or two of marketing period. Period! This means making plans to be flexible and away on requested showing times.
Tip: Keep your home in show-ready or at its staged condition at all times especially during the initial marketing period.
Take Advantage of Low Supply of homes for sale in your neighborhood
Take advantage of housing market conditions when there are little to no houses for sale like yours in your own neighborhood. Low inventory means you might be the only game in town and leaves many buyer with hardly any choice.
Full Marketing Blast
In both traditional and online marketing, your home should be highly visible to let as many buyers that your home is for sale. Pick Internet marketing savvy agents who can provide maximum online exposure and publish your home on real estate websites, social media, and other listing sharing and marketing websites. The more buyers know about your home, the more showing you will have, which may equal to more offers.
Tip: Get your listing on the MLS and syndicated to active real estate websites like Realtor.com, Zillow, Trulia, Yahoo Real Estate, etc. Ensure that your listing has at least 10-15 high quality photos showing the home in its best light and condition.
Pick the right real estate agent
Tip: Interview at least 3 agents who specialize on representing sellers before selecting one that you will want to work with.
The right agent or team of agents need to have a comprehensive set and multitude of skills from social and communication skills, marketing savvy, local real estate market knowledge, comparable sales analytical skills, dedication, hard working, professionalism, honesty, sincerity, highly adept with new technology, has web presence, outgoing, has access to sophisticated tools and resources both traditional and online. You also want to hire an agent or agent team with proven positive experience validated by other home sellers in online third party reviews, great attention to detail, etc. On top of it all, you want a a full time agent that you feel comfortable working with and who is responsive to your needs in selling a home.
Tip: A single agent may not possess all the skills and personality to match to sell your home. Consider hiring an agent team vs. a single agent.
We may be able to help you further. Check out our video series on top home seller questions answered. Thank you for visiting DreamWellHomes.com
Free Web Resource to take advantage of: Find Out Your Home Value Estimate