Many houses in our local market are selling fast with multiple offers but others are sitting on the market for long periods of time before selling. Why does this occur?
Selling a home fast does not happen by accident. There are steps that need to be carefully implemented in order for a house to sell with multiple offers. Following are the four most important ones:
1) Your home needs to be in an optimal condition: You have to not only make your house look good - it has to look better than any competing listing on the market. Buyers are carefully previewing and comparing houses to get the best value. Make sure there are no obvious defects as such as leaks, peeling paint, broken windows, dirty carpet or worn-out hardwood floors etc. Finish by staging your home with quality furnishings that effectively utilize the space in your home.
2) Price your home just below the fair market value: Carefully review the market analysis prepared by your agent and price your home just below the price of the lowest comparable in your neighborhood. You need to portray your home as a good value to generate excitement among buyers.
3) Accommodate buyers’ showings promptly: Many listings allow agents to go directly and show the homes. Some others require only a phone call. The easier it is to show your home, the more buyers are going to see it and the more offers you are going to get.
4) Marketing your home: Your home needs to have an extensive marketing campaign utilizing all kinds of media from the day it is listed to give it sufficient exposure to generate multiple offers.
Careful execution of the above steps will help generate multiple offers and enable you to realize the highest possible price for your home.