My House Has Been Listed Forever! How to Start the Bidding Wars
5 Tips to Get More Offers Flowing In
The housing market has finally gotten its feet back under it. In fact, we’re in the middle of one of the strongest real estate markets in recent memory so if you are thinking about selling, now is the time to do it. But, even in booming markets, some homes simply have a hard time selling.
If your home has been on the market for a while and you’re unhappy with the lack of offers you’re getting, there are some things you can do to enhance your chances of getting your home sold. Here are five simple tips to help you start a bidding war for your home.
#1: Price Your Home Properly
The first thing you have to get right is the asking price you’re going to set on your home. Price it too high and buyers will be turned off. Price it too low and buyers will be too wary to make offers because alarms will go off in their heads. Therefore, do your research and find out what other homes in your neighborhood and city are selling for. You should also work with a professional real estate agent to determine the best asking price for your home to attract buyers.
#2: Review the Listing Photos
Many home buyers take to the Internet in order to build a list of prospect homes they want to visit. And, one of the most common things that piques their interest in a property is the photos on display in the listing. So, if your home isn’t generating any interest, you might want to take another look at the photos being used to market your home. If the photo of the front of your home is a face-on shot, then replace it with a photo taken on an angle. This is a more appealing look and it shows the viewer two sides of the home in one shot.
Another thing you’ll want to do is focus on any special features in or around your home, such as the new appliances you have in the kitchen, the master bath’s whirlpool tub, or the children’s play castle in your yard. By highlighting certain features in your photos, it encourages the viewer to see themselves living in the home.
#3: Generate Interest in Your Home Before You List
Take to your social media platforms and your email lists to announce that you will be selling your home in the coming weeks. Include some photos in your posts. Answer any questions people may have in a timely manner and count down the days to your home being listed for sale.
Another way to generate interest is to put your home in the multiple listing service (MLS) but let viewers know that there will be no visits permitted until the official open house. By restricting when home shoppers can see your home, you will automatically be creating a sense of anticipation among buyers and this can lead to a lot of offers being made in a relatively short span of time.
#4: Set a Deadline for Offers
If your agent has a calendar stocked with appointments to show your home, then setting a deadline for offers can be an effective way to spur on-the-fence buyers into action. After all, nobody likes missing out and if they know offers won’t be accepted after a certain date, they may feel more inclined to put in an offer before the deadline passes. When this works right, the odds of buyers submitting their very best offer right from the get-go is improved.
#5: Generate Buzz With an Unconventional Open House
The traditional open house can be a rather droll affair. So, spicing up your open house can be a great way to get more people talking about your home. Try creating a party-like atmosphere complete with drinks, food, and games. You can even have a live band playing in your backyard. With so much going on, you’ll attract plenty of prospects to your home and you can bet that your home will be the one they think about longer and more fondly than the rest.
Don’t let your home keep getting passed over by buyers. Try one or more of the above five tips and you might be able to start a bidding war that will ultimately see you getting much more for your home than what you were originally asking.