When Will The Real Estate Market Shift? We all know it has been a strong sellers market nationally and locally for quite some time. During most of this time we have had historically low
How To Create A Bidding War!!!
Dated: November 7 2021
How to create a bidding war when selling my home?
We are in a hot sellers market with the potential to sell your home for more than it is worth. It is important when listing the home on the open market to understand that emotions are running high when the home buying process is started for buyers. Understanding this and being able to capitalize on that, gives sellers a huge advantage. We must not only understand that buyers are emotionally attached when submitting contracts but also become financially attached. The goal is to maximize what I can sell your home for on the open market.
How do we sell the home for more than it is worth?
WE LIST LOW!!! It sounds crazy. It will go against everything that you feel is right. But I promise you, this will deliver big results. When a home is underpriced it creates a frenzy that would not normally occur when listing at market value. Why is this? The reason is people want to get a deal. Well, that is why they initially put their offer in. Once they realize there are five other contracts that are going to be submitted, they are willing to submit an offer with a higher amount. We have now converted the emotional attachment to financial attachment. This occurs in the other buyers as well and now we have a bidding war.
Listing the home at market value creates a very low chance of creating a bidding war. The buyer pool and competition is greatly reduced. When we list the home low we have the opposite effect.
How low should we list the home in order to create a bidding war?
This number is typically 20-15% lower than the market value of the home. When we do this we will typically end up seeing offers 5-15% higher than what the market value is of the home.
If you ever have any real estate needs or questions, feel free to give me a call or text.
Sincerely Your Realtor,
Snell Isle Team with Mac Bauer Realty
I'm Isaiah Senecal, a licensed real estate professional serving St. Petersburg and the surrounding areas. My approach when helping clients is to design a customized plan for whatever your needs and wa....
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