Get Multiple Offers to Buy Your Home

For months (years), we have heard the news that we are in a seller’s market – meaning there are not enough homes for sale to meet the demand of home buyers.  Often in a seller's market, the time it takes to sell a home is decreased and the possibility of multiple offers is increased.

 

This news could cause dollar signs to start dancing before your eyes.  Before you count your cash, there are a few things to consider.

 

TIPS ON HOW TO GET MULTIPLE OFFERS FOR YOUR HOME

 

Price Your Home Competitively ~ When a home is priced and marketed correctly, your chance of getting multiple offers is increased.  The longer a home sits on the market, the longer its days on the market grows and with that comes a sense of staleness…thus reducing your negotiating power.

 Spruce Up Your Home ~ “Move-in Ready” is music to a buyer’s ears.  Walk through your home as if you were a buyer and fix up those areas that don’t reflect well on your home.  Putting in a little elbow grease before your home is listed for sale could net you a larger profit.

 

Build Anticipation ~ As the #1 Real Estate Company in the metro Saint Louis area, we use our unique marketing tools to build anticipation in the market.  With the largest number of agents in the area, our listings are shared with our associates even before it is listed on the MLS.

 Listen To Your Realtor ~ We will supply you with sound advice that comes from experience in all types of real estate markets.  For example, it’s best not to get emotional when you receive offers to buy your home.  High offers with a long list of contingencies are not always the best offers.  We will be able to help you differentiate between solid offers and questionable offers.

 

If you are thinking of selling your home, contact us for a free, no-obligation consultation. 

 

(314) 348-4033

 

Buyers A Home Seller Should Avoid

Once you have your home up for sale, it's helpful to know the type of buyers you're dealing with.  Essentially, buyers fall into one of three categories:

1.    Buyers searching for a dream home.

2.    Buyers looking for a great home at a fair price.

3.    Buyers scouring for the next bargain.

"Dream" home shoppers will most likely be willing to pay full price if they find a property they want.  "Great" home searchers probably aren't going to pay full price, but will be more likely to negotiate.  "Bargain" hunters thrive on finding the best price and may be looking for a fixer-upper.

If your home is well-kept and priced correctly, you probably won't encounter the bargain hunter.  Instead, you may come across three types of buyers among "dream" home and "great" home shoppers that aren't going to serve your bottom line.  These are the buyers you may want to avoid.

1.    Zero Percent Down Buyer

        As you and your Realtor know, it's smart to use recent comparable sales to help determine the market value of your home.  However, there are times when the market value is higher than the bank's appraised value.  Adding a buyer putting no money down to that scenario increases the chances they won't qualify for a loan.  In the end, you will have taken your home off the market and missed out on the opportunity to entice a stronger buyer, only to end up having to put your home back on the market.

2.    The Bully Buyer

        Nobody likes a bully and you're not going to like this type of buyer either.  The bully buyer will inundate you with a list of things that are wrong with the house -- all while presenting an offer.  Also, with this type of buyer, you can expect the inspection process to be a nightmare.  If you detect a bully, move on.  The bully approach is a prelude to endless negotiations with their trying to obtain concessions by nitpicking every aspect of the transaction.

3.    The Sight-Unseen Buyer

        It's not unheard of to get an offer from someone who has only seen photos of your house.  Beware that this type of buyer may have a trick up his/her sleeve.  Most home buyers will not purchase a house without seeing it.  Instead, this buyer might want your house off the market so they can make a decision later.