Technically, all you need is one buyer with the right offer to sell your home. But it’s usually an exercise in futility to just list and wait for that buyer to come along. To be in the driver’s seat as a seller, you need to bring in multiple offers, which typically allow you to be more selective, negotiate harder, and offer fewer concessions. Simply put, with multiple offers, you almost always get a better deal. Let’s see, then, how to generate multiple offers when selling your house in Spokane.
Understand the Local Market
Generating multiple offers when selling your house in Spokane begins with your understanding of the local real estate market. You can’t, of course, control the market (whether it’s a buyer’s or seller’s market), but you can respond to the market (particularly with respect to pricing) and use current conditions to your advantage.
Suppose, for example, yours is a seller’s market. In such a market, “it’s said that homes practically sell themselves. But that’s not entirely true. Hordes of eager buyers tend to focus on the ‘it’ houses being shown one week, and might overlook others. Clearly, you want to make your house the one that everyone is flocking to.”
Your Spokane agent can help you adjust your methods and strategies to best leverage current market conditions to generate multiple offers. Discover more about this by calling (509) 844-6539.
Make It Shine and Make It Move-In Ready
Selling your house in Spokane, especially when your goal is generating multiple offers, means getting it looking its absolute best and getting it move-in ready.
Homes that get multiple offers are desirable, making potential buyers ignore similar listings in the area. Your home needs to be looking so good that buyers simply fall in love with it and are eager to make an offer. Here’s just some of what you’ll need to do to achieve this:
- Cleaning thoroughly both inside and out, including closets, garage, basement, and crawl spaces
- Repainting and refurbishing/replacing flooring
- Decluttering and staging
- Ensuring that everything is in good working order – doors and windows, appliances, major systems, bathroom and kitchen fixtures
In addition, ensuring that your home is move-in ready will help you get more offers. Increasingly more buyers want homes that they don’t have to do anything to. If all they have to do is move their stuff in, they are more likely to make an offer.
The price is usually the first thing potential buyers look at, even before looking at listing photos or the description. So one of the most important elements of selling your house in Spokane and generating multiple offers is pricing it right, that is, pricing strategically.
Here are a couple of market-related pricing strategies to keep in mind:
- “In a seller’s market, it’s often wise to set your price below the amount you know you could sell it for. How far below? Enough that it puts you into a different tier of online searches (which filter based on price, among other factors), but not so much that people wonder about hidden flaws.”
- “In a buyer’s market, listing your house closer to its real value is usually wise. You are not in the power position, and don’t want to give away too much too soon.”
Your best bet here is to rely on your agent’s pricing expertise in order to price strategically and in line with market conditions.
Market Widely and Aggressively (Both You and Your Agent)
The more people who know that you’re selling your house in Spokane, the more likely you are to get more offers. So both you and your agent should market both widely and aggressively.
What many home sellers don’t realize is that they have a role to play in marketing. Certainly, this involves telling friends and announcing it on your Facebook page, but there’s more. “It starts with being a team player in the process of cleaning your house in preparation for photos and showings and keeping it tidy, arranging for pet care during open houses, and so on. If you’ve chosen a good agent, you should feel confident in that person’s suggestions about decor, hiring a stager, and more.”
Your agent, though, should take the lead in marketing efforts “by commissioning professional photos of the home, creating a website for it, listing it on the Multiple Listing Service (MLS) and his or her agency website, holding open houses for buyers and brokers, and sending postcards about the sale to neighbors and more.” For multiple offers, your agent should also know how to leverage the reach and power of social media to the fullest.
Use an Agent Who Can Generate and Handle Multiple Offers
Finally, for generating multiple offers when selling your house in Spokane, you need an agent who can not only generate those many offers but also has the expertise to handle them when they start rolling in.
“There’s an art to managing a bidding war. The real estate agent will need to stir up excitement before bids even come in, for example by dropping hints about the level of interest without revealing too much and breaching buyers’ confidentiality.” And then your agent will need to know how to vet offers and effectively set deadlines for receiving offers. “All of this takes skill, experience, and a certain maturity with regard to relationships with other agents.
Then, when you get multiple offers, you have to figure out the criteria by which you’ll determine the best offer. (The highest isn’t always the best.) Here, too, your agent can provide invaluable assistance.
As you can see, then, having the right agent is critical. So if generating multiple offers when selling your house in Spokane is your goal, contact us today at (509) 844-6539.