Home sales and home values have been on a strong uptick here in the Triangle thanks to low inventory and low interest rates. Triangle Sellers are breathing a giant, collective sigh of relief! But for all of the buyer activity, it seems like most houses sit on one end of two extremes: they either get snatched up the moment they hit the market (with multiple offers and an above-asking sale price) or seem to languish on the market without an offer in sight.
All sellers aspire to be on the multiple-offer end of the spectrum. Fortunately, there are steps you can take to make that happen as a seller. Here are five tips to move your listing in to the multiple offers zone.
1. Make it beautiful. Really, really beautiful. The homes that get multiple offers are those with a look, feel and function that can be described in one word: covetable. You're not trying to create a situation in which your home barely edges out the listing down the street in the hearts and minds of your target buyer. If you want multiple offers and top dollar, you need multiple buyers to fall deeply in love with your home – enough to bid above the listing price, and enough to compete with others for it.
To generate multiple offers, prepare your home by ensuring it is: immaculately cleaned from the inside out – closets, basements, garages, appliances and crawl spaces included. Make sure your home is de-cluttered and staged to the nines. This includes fresh paint, fresh landscaping, clean carpets, making all minor repairs upfront, organizing closets and making sure buyers feel at home when the walk through your front door.
If you've done any major home improvements or replaced any appliances or systems lately, market that! Show off how immaculate, adorable and move-in ready your home is now and for the long run.
2. Pre-Market your home = Coming Soon! Marketing your home to agents and buyers before you actually start showings is critical. Let all agents and buyers know your home will be coming on the market so that everyone knows when you start showings. If you just list your home and start showings you miss some potential buyers that were not fast enough to see it online. If you pre-market your home everyone has the same opportunity to come line up at the front door once you start showings, creating demand.
3. Professional Photos. Most sellers do not know that what buyers see online is their first showing. Yes it is true. Online is your first showing as a seller. IF the buyer does not like what they see online, they are not coming to your home. Once your home is beautiful, make sure your photos showcase that and make your home look appealing! You want buyers dying to see your home based on the photos.
4. Price. While it is a strong sellers market it is still very important to position your home properly in the market at the right price. Pricing a home is an art and balancing act. Pricing too low and leaving money on the table and pricing too high missing your buyer are 2 common mistakes. Your real estate agent (hopefully us at CVRG) can help guide you on the latest pricing trends and sales in your area to properly price your home in the market.
5. The Right Agent. Once you have the package setup for buyers then you need an agent that knows how to setup showings, drive the multiple offer process and negotiate on your behalf.
It boils down to: Prepping your home for the market properly, Marketing your home properly, Positioning it in the market properly and then having the right agent to guide through the process and negotiations.