Are you thinking about selling your property and it’s currently a seller’s market? Keep reading this blog post to discover the 5 ways to attract multiple offers in a seller’s market in Minneapolis St Paul…
A seller’s market is one in which the seller has an advantage. Its most of the time a market that the business rule of supply and demand kick in. when there are more buyers than sellers it’s considered a buyers market. We here in Minneapolis St Paul go-between buyers and seller’s market all depending on Interest rates, jobless rate, and how many houses are on the market. So many buyers are looking at just a few available properties.
But just because you naturally have an advantage in a seller’s market, doesn’t mean you’re home free to sell at massive profit. You should still strive to get as many offers as possible and, in doing so, give you the opportunity to select the best offer for yourself.
Why do you want multiple offers? It’s the simple concept of a “bidding war” – if you get one offer, you might feel forced to take it. But multiple offers allows you to choose from the best one, and even to negotiate from a stronger position. It’s all about your have options.
Here Are 5 Ways To Attract Multiple Offers In A Seller’s Market In Minneapolis St Paul
#1. Open House
One way to attract multiple offers is to have an open house. If it’s marketed properly you’ll likely get several people looking at your property within a very short period that could increase the number of offers you’ll get at once. Open houses also, let buyers know that others are looking at your property and they actually see the other buyers as they walk threw the open house. Gets them thinking that if they want the house, they better put in the best offer they can.
If you are wanting to get buyers into a buyers war where more than one person wants your house and go into a bidding war to see who gets it? Here is how you do it.
Find out what comparible house are selling for in your area
Make sure those comparible homes have simular total finish square footage, total number of bedrooms and bathrooms are the same and are in within 1/2 mile of your place.
Off your house up for sale at $5,000 to $10,000 less then the comparible houses sold at.
Right from the begining tell all buyers you are not going to look at any offers for 7 days.
Wait and see what happens- we will explain more below
#3. Accept Offers At A Certain Time Only
One way to attract multiple offers is to only accept offers at a certain time. That way, if someone wants to make an offer, they have to comply with your time-frame and you may get multiple offers all at once. For example, you may put your house up for sale on Monday morning and say they you will not be even looking at any of the offers until Saturday at noon. This gives buyers lots of time to look at the house, and feel the pressure that others are looking at the house as well. Some people feeling that pressure offers more. With the extra time, between the day you listed the house vs when you are opening and looking at offers, gives more people able to see the house and results in multiple offers. This will allow you to sell your home fast and with the opportunity at a higher price.
#4. Stand Out
Another way to attract multiple offers is to stand out in some way. Take your property to the next level by making it beautiful, memorable, and desirable. Perhaps even paint the door a dramatic color so that it stands out. This will make it memorable in people’s minds and they may add their offer to your growing pile of offers.
#5. Targeted Buyers
A very powerful way to attract multiple offers (although it’s often overlooked) is to identify who might be the perfect buyer for your home and then laser-target your marketing to reach them. For example, if you determine that first-time home buyers are ideal then stage your home for that buyer and then laser-target your marketing to reach them. Today over 1/3 of the buys are millennial’s, and they are not interested in doing repairs on the house. They want the house, move in ready, with stainless steel appliances, granite counter tops, and open concept interior. The more of those elements you have in your home, the more of the targeted buyers you will attract.
The is another way to sell your home it the whole multi offers didn’t work out for some reason. Some houses are not able to show because they need so many repairs or just so much stuff around that it seems overwhelming trying to pick it all up so you can show it. There are professional home buyers like us at Minnesota Cash Home Buyers who buy homes as is condition in Minneapolis St Paul. These buyers you might have heard about or seen signs that say cash for homes in Minneapolis St Paul.
In a seller’s market you might normally attract multiple offers from buyers anyway – but the more offers you get, the better. Use these 5 ways to attract multiple offers in a seller’s market in Minneapolis St Paul.
Selling in a seller’s market might seem like the best option but one way to get another offer is to have us give you a cash offer for your house. We’re buying properties in the Minneapolis St Paul Minnesota area and we’d like to make an offer too. Click here now to fill out the form or call us at (612) 444-5088 and we’ll get in touch with our best cash offer.