Every home seller’s dream situation is to be presented with multiple offers to buy their newly listed home for sale.
Who doesn’t like to have options? Getting multiple offers for your newly listed home for sale isn’t necessarily a long shot BUT you, and your Realtor, have to do your homework (and work) to make this happen. Here are a few things that need to happen in order for multiple offers to start filling your inbox:
- Location, location, location! The most common denominator of homes receiving multiple offers is that they are in a good location? What constitutes a good location? That depends on your market. Are you selling a German Village home? Then you should not be on an alley street. Are you in the suburbs? Then how close are you to highways and amenities without being on a busy street?
- Showroom ready. Objectively look at your home and ask yourself, your friends (only the choicest ones), and your agent how your home shows. We all know a deep cleaning is in order but that isn’t enough anymore to create that excitement to get multiple offers on your home. Your potential Buyers need to be able to picture themselves in your home. You are not just selling a home, but a lifestyle as well. Since over 90% of Buyers start their home search online you need to have your home photo shoot ready and then make sure your home’s photos are gorgeous, show off the home’s best features, and are up and ready to go online as soon as your listing is active. The more excitement you build by having beautiful photos then more people will come through your home and the more people who view your home in person the more likely you are to get multiple offers. See how that works?
- Know your home’s market. This is where the help of an experienced Realtor comes in handy. Just because certain area of Columbus (such as Victorian Village or Upper Arlington) are seeing huge amounts of activity doesn’t mean that you’re home will if you live in other areas (Ganther’s Place, Obetz). Even parts of the same neighborhood will have different sales rates than others. For instance, if you wanted to sell your Merion Village home it is possible to get multiple offers if you fall into the area where sales are still strong. Outside this rectangle the possibility lowers (but can still be achieved with the right marketing, staging, and pricing strategies). This where the help of experienced Realtors like Hannon & Graves of KW Classic Properties come in handy. We live, work, and relax in the neighborhoods we service (German Village, Merion Village, and Schumacher Place) so we not only have an intimate knowledge of the sales data we also know who is moving to the area, how to market to that demographic, and how to sell the neighborhood as well as your home to build more excitement.
- The price is right. No matter how fantastic your home is if it is overpriced few, if any, Buyers will view your home. The less people who see your home the less chance there is to get an offer let alone multiple offers. If your home is in a good location, shows well, and your local market is strong then pricing your home 5-10% below market value will typically drive Buyers to see your home as soon as it is on the market and you may see multiple offers that very same day!
If you are thinking about selling your Merion Village, German Village, Schumacher Place, Victorian Village, Harrison West, or Downtown Columbus home (or condo) then be sure to contact Vince Graves of Hannon & Graves of KW Classic Properties to see how much you could net from the sale of your Downtown Columbus home.