The bidding war for a home is in full swing right now in a lot of areas all over the county, with the revival of the bidding war spells opportunity for sellers.  There is a pent -up demand now as people are finally realizing prices won’t go to much lower. With more buyers in the market, sellers have greater control over the price for which they can sell and may see multiple offers come in if they play their cards right.  There is one caveat: location location location!!! If you live in an area thats in demand, there are ways to create a buyer frenzy.  From pricing it right to stacking the open house, here are five strategies to spark a bidding war.  If you overprice your home , you won’t draw much buyer interest  and the house will languish on the market. To drive demand ,attract multiple offers and start a bidding war, you have to price your home just right.  You must analyze the comparable and then price the home correctly.
As a real estate agent we should not use comps that are older than 60 days . 
Hosting a broker open house is another way to get real estate agents into your listing and then create more potential for multiple offers which can lead into a bidding war, hosting a broker open gets the word out and one of those agents could have a buyer that is perfect for the home.  
Creating a website for your listing can be leveraged to create a buzz about your house, making a bidding war more likely.  Creating a website for our home lets you post pictures of the house and give you the ability to share the link on facebook, twitter, linkedIn and anywhere else pestilential buyers may be hanging out.  Buyers preview homes 80% of the time online first so you want to be sure that your first impression is the best it can be!  The home website should contain lots of professional pictures and a floorplan so buyers can envision how their furnishings will fit.  Having a website for your home is a powerful tool and something all Real estate professionals should offer to their clients.
When a house recieves multiple offers, they typically arrive shortly after the house is put on the market.  A way to maximize exposure is to have an open house for potential buyers shortly after the home is listed.  One way to stack an open house is to have your real estate agent schedule showings back to back , so potential buyers will bump into each other on the way in and out.
Make sure your home is staged!  Your home is more likely to garner interest and be the subject of a bidding war if it is staged: free of clutter, scrubbed of pictures and personal items, and with neutral decor.  It has to look like it’s out of the Potter Barn magazine and when buyers walk in they will fall in love instantly!
The biggest mistake a homeowner can make is not getting rid of the clutter. Equally important is making sure the home has curb appeal because some buyers won’t ever get out the the car when scouting prospective homes.  We want it to read like a five-star hotel.. You want the space to speak for itself and to make it as inviting as possible , so buyers could see themselves living there!
For more information on listing your home contact our group today!