Putting your home on the market at the right price and marketing it through 3D virtual tours and property videos are ways to entice buyers to come and see your home in person and make an offer for your property. Many real estate agents have great success when they practice this.
Open houses are great for the realtor to get to know the neighbors and help spread the word that the house is on the market. Open houses are no longer necessary, however, if the home is marketed properly.
How exactly do you get more bids, maybe even start a bidding war among your prospective buyers? Here are tips on how to do it.
Do a thorough absorption rate analysis and position the home right where it needs to be
The best strategy for getting buyers to make an offer, therefore is to price the home right where it needs to be. Too high, over-pricing the property, will make it invisible to buyers searching on the internet. Under-pricing can spark a bidding war, and that is exactly what you want.
Advertise the home’s availability on the internet
Once you put your house on the market, advertise far and wide using every tool within your budget. Use real estate websites, multiple listing services, apps, social media, and even word-of-mouth. Ask friends and family who have sold their homes about what they did to sell their home profitably.
Keep it clean
Tidy up your home for sale and clear any clutter. Don’t put too much of your personality in it. You want your home to look modern but not too distinctive, as you want your buyers to picture themselves and their belongings in it. Hire stagers if you must.
Provide all the necessary information
Make it easy for your buyers to obtain information related to the property you’re selling. Provide information sheets that include key facts about the neighborhood and the community as a whole. List nearby lifestyle amenities and facilities. Likewise, list down the house’s best features, taxes, square footage, lot size, and other pertinent information.
Set a deadline for making offers
Don’t be afraid to put some pressure on prospective buyers, just do it in a respectful manner. Once a buyer knows that he has to meet a certain deadline, you may inspire procrastinators to decide faster.
A well-executed marketing plan can create enough buzz for a bidding war. Hire a realtor to market your property ahead of time to gain enough interest from buyers.
5 tips to start a bidding war for your home, Bankrate.com