If you’re getting ready to sell your property, you may already be wondering about the number of offers you might get. I would argue that another question that should be asked is: “Should I expect multiple offers?”
The successful marketing of your property depends on the neighbourhood, the price range, and what is available at the time you list your home. Here are some important factors that can make your house a good candidate for multiple offers.
1. SPRUCE UP, CLEAN UP and get the PHOTOGRAPHER ready.
Even if you feel like you’ve been a diligent caretaker of your home over the years, you will still benefit from getting some careful work done on it. Check to see if the interior walls need re-painting and if the front walkway needs to be fixed up. Some sellers may even do a full power wash of the entire exterior just to give the house a like-new feel.
When that’s finished, you may want to hire a professional photographer to take some photos in natural lighting during the day. This is a good time to have all of the sofa cushions arranged nicely and the chairs facing the right directions.
2. Be SMART about PRICING.
I don’t believe in underpricing a home to attract multiple offers. If you would like to explore this option, I recommend pricing the property as close to the market value as possible before discussing an offer date. For instance, starting off with a lower asking price can get buyers excited about the prospect of getting a great deal. This can also attract more buyers to show up to the open house.
However, it’s important to realize that this is a delicate balancing act that has to be done with a lot of research and precise timing. If handled improperly, it can backfire on sellers, and you won’t end up with the best price.
3. Be READY for SHOWINGS as early as TODAY.
Buyers often see multiple homes in one day and you want to make sure yours gets seen as early as possible. If you delay the opportunity for your house to be seen, you’re risking the chance that a buyer may make a decision on another property before stepping foot into yours.
Another thing to consider is inviting your neighbours to the open house. The presence of more people creates urgency and they may even pass on information about the sale to friends and family.
4. Can you handle MULTIPLE OFFERS?
This seems obvious, but it is a crucial point. I might even argue that once the offers start to come in, the dicey part begins. Having a real estate agent who can properly and successfully negotiate on your behalf is essential. Unfortunately, there are too-good-to-be-true offers that can come with a long list of contingencies. Make sure you work with an agent to navigate through this process so that you can pick the best offer for your situation.