You may have seen on television or heard friends that had a bidding war on their home. This drove the price up and put way more money in their pocket. You may have assumed it’s because they have two very motivated buyers, or that they had a lovely home. Although this may be true, it is not always the case. Here are some tricks that you can do to spark a bidding war on your home.
One of the easiest ways that can be a bit of a risk is to price your home to move. Pricing your home low can prepare for it to sell high. Even if it is simply 5% below its market value, this will tempt buyers to run to your front door and look at the home. Talking with your real estate agent beforehand about this strategy will allow you to make an educated decision.
It’s important to get people excited about your home going on the market even before it is listen. Use social media, your email, and potential clients and agents to spread the word.
Don’t be afraid to go big and even over the top for your home house. This will show potential buyers that you are not only serious, but that this home is worth it. DJs, dancers, and an open bar are allowed!
Your pictures are SO important when showcasing your home. Make sure to have the best angle possible when taking photos. Make sure to highlight the best areas of your home. If this is the backyard, then showcase that in the pictures and show the opportunity it has for potential buyers.
People don’t want to miss out on a good thing. Because of this, set a deadline on your home. This will entice any procrastinators from waiting too long. Once again, this strategy is not for everyone however, it can pay off BIG.
Here are our five ways to spark a bidding war. Make sure to always talk to your real estate agent so that they can help you with the best strategy possible. For more tips, contact us today!