Do you need to sell your house, but it’s currently a seller’s market? Keep reading this blog post to discover the 5 ways to attract multiple offers in a seller’s market in NJ…
A seller’s market is one in which the seller has an advantage. It simply means that the demand for buying a house is big, but there are few properties available. In short words, there’s more buyers than sellers.
But just because you naturally have an advantage in a seller’s market, doesn’t mean you’re going to sell for a huge profit! You should still look to get as many offers as possible and, then you will have the real leverage to pick the best option for you not only financially, but also in terms of negotiating terms like closing date, contingencies, and other contractual clauses.
It’s the simple concept of a “bidding war” – if you get one offer, you might feel forced to take it. But multiple offers allows you to choose from the best one, and even to leverage all of those offers in your favor!
Here Are 5 Ways To Attract Multiple Offers In A Seller’s Market In NJ
#1. Open House
One way to attract multiple offers is to have an open house. If it’s marketed properly you’ll likely get several people looking at your property within a very short period or even at the same time! That will increase the buzz on your house, and could even increase the number of offers you’ll get at once. You will probably get offers faster than usual that way as well!
Even though you might ask for and even get a high selling price, asking for a slightly lower price to attract multiple offers could be a better strategy. Remember the bidding war strategy that I mentioned above right?
#3. Accept Offers At A Certain Time Only
One way to attract multiple offers is to only accept offers at a certain time. Limiting the period that prospective buyers can make offers on the house, they have to comply with your time-frame and you may get multiple offers all at once.
#4. Stand Out
Another way to attract multiple offers is to stand out in some way. Take your property to the next level by making it beautiful, memorable, and desirable. You’ll never have a second chance to make a good first impression! Try small things like painting the door a dramatic color so that it stands out. This will make it memorable in people’s minds and they may add their offer to your growing pile of offers.
#5. Targeted Buyers
A very powerful way to attract multiple offers (although it’s often overlooked) is to identify who might be the perfect buyer for your home and then laser-target your marketing to reach them. For example, if you determine that first-time homebuyers are ideal then stage your home for that buyer and then laser-target your marketing to reach them. In other words, that means that a couple with no kids in their 30’s usually look for something completely different than a family with 3 kids in their 40’s. That could mean not only decoration, but also number of bedrooms, location and other factors!
In a seller’s market you might normally attract multiple offers anyway – but the more offers you get, the better. Use these 5 ways to attract multiple offers in a seller’s market in NJ.
Selling in a seller’s market might seem like the best option but one way to get another offer is to have us give you a cash offer for your house. We’re buying properties in the New Jersey NJ area and we’d like to make an offer too. Click here now to fill out the form or call us at 1-888-WE-BUY-NJ and we’ll get in touch with our best cash offer.