It is not uncommon for a seller in the Austin area to receive multiple offers on their home. Multiple offers can be advantageous to a seller not only because it increases the chance to sell at a higher price but it also gives a seller the opportunity to select an offer with the best terms.
For some sellers terms such as waiving appraisal contingencies, higher option money, quicker closing date or a possible lease back may be just as attractive as more money.
Multiple offers and handling a multiple offer situation correctly doesn’t happen by chance. If you are selling your home make sure you have a Realtor on your side who has a system in place to attract multiple offers.
Here are some of the steps we will take to maximize your chances of receiving multiple offers on your home.
Have great professional photos take of your home.
Nothing builds more interest in a home than great photos. It is important to have your home staged and ready for photographs in advance of going on the market so your home can be advertised early.
"Eric exceeded my expectations during the entire process. With his knowledge of the area and the market, we were able to set the right price to bring in multiple offers. Eric's advice during some tense negotiations allowed me to stay calm and work through all the issues. I would not hesitate to refer him or make use of his services at any time in the future."
-Elizabeth & Stuart
Promote your home before it is listed in the MLS.
There are many to advertise your home before being listed in the MLS. I participate in several local Realtor Facebook groups where we can post pictures and details of your home before it is listed. We will also contact all the agents who have a home listed in your area as well as agent who recently sold a home in your area. Those agents may have another client interested in your home.
But don’t allow showings until it is listed in MLS
If you’re trying to maximize the sales price you probably don’t want to show it to only one person or limit your home’s advertising to only one real estate company. If you start showing your home before it is listed for sale you likely won’t generate the amount of interest needed to receive multiple offers.
List your home on a Friday evening and hold an Open house Saturday at noon.
By listing your home on Friday evening all the real estate websites will have updated their servers by Saturday morning. Buyers who have email alerts for new listings set up will be notified of your home being for sale by Saturday morning at the latest.
Listing your home just before the weekend combined with an open house will create a sense of urgency among buyers that they not only need to make an offer but they need to make a great offer because they see how much interest there is in your home.
One of the things we do to create urgency with buyers is we will invite your neighbors to the open house. Your neighbors may have a friend or family member who would be interested in your house. Even if they don’t just by attending the open house your neighbors will give potential buyers the feeling that there is even more interest in your home.
Hire a Realtor that has the experience dealing with multiple offers.
Lastly, if you want to receive top dollar for your home it is important for you to hire a Realtor who is experienced in dealing with multiple offers. Timing is everything in real estate. This realtor should have a system in place for creating a multiple offer situation. He or she should know how to negotiate on your behalf and be your advocate in every step of the transaction.
We sold Elizabeth & Stuart's house for $18,000 more than mortgage appraisal. To talk about a plan to attract multiple offers for your home call Eric Peterson at 512.791.7473 or email at firstname.lastname@example.org