12/27/2012: How to sell your home in a bid war

As you know, the past 3 sales on Randlett have been bid wars — where the owner received multiple offers.  There’s a lot of strategy that goes into creating a bid war, not just listing your home on MLS, crossing your fingers and hoping for more than 1 offer.  Some tips below:

1.) Time the market.  Spring is typically the best time to sell, as serious buyers are watching the market closely and ready to make an offer.

2.) Price your home correctly.  Pricing your home in-line with recent sales on Randlett will attract immediate interest.  Be realistic about the value of your home.  Not realistic plus $100k.

3.) Have your home professionally photographed and a floorplan done.  Taking high-quality photos and getting an accurate floorplan will give online buyers a good understanding of the property before they set foot inside.  By giving buyers this info beforehand, there’s less they have to figure out when they arrive at the house.

4.) Put your home on the market.  MLS has the most site traffic on Wednesday & Thursdays.  Buyers are bored at work and making plans to see homes during the coming weekend.  Putting your home on MLS on a Wednesday or Thursday will give you the most views.

5.) Showings.  Defer all showings to the open house on Sunday.  This will get a lot of buyers in at the same time and create a competitive enviornment.

6.) Offers.  Let all serious buyers know you will be reviewing offers on Monday.  Hopefully, you have a few to choose from!

bidding war

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