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July 29, 2022

5 Market Ready Hacks to Create Multiple Offer Situations

By

Tim Clarke

5 Market Ready Hacks to Create Multiple Offer Situations

Thanks to 3rd party real estate websites such as Zillow, Trulia and Realtor.com homes for sale are broadcasted more than fake news and many buyers are savvier than ever before.

Buyers will inevitably get their own inspections and identify all current defects in the home. I highly suggest before making any modifications to the home.

I’ve made a three part series on “Pre-Market Inspections” my YouTube channel for an in depth explanation of why pre-market inspections are essential.

Premarket Inspection

Bottom line, no house is perfect, identifying the defects before listing can minimize surprises and insure the house gets sold at top dollar.

To achieve the most success, I would use the pre-market inspection report as a roadmap and tackle the smallest defects and work your way towards the biggest, such as small leaks, lighting/outlet issues and rotted exterior wood.

The major issues such as roof replacement, mechanical defects and other major defects could be handled by disclosing upfront, purchasing a warranty for the mechanical systems and/or (if applicable) filing an insurance claim.

If you don’t have any of those issues and if you have any leftover home repair budget, you can direct your dollars towards these items.

These are simple, inexpensive and won’t take forever, but they can positively impact every prospective buyer’s first impression and ultimately produce a multiple offer situation. 


Here are the top 5 things you can do to get your home market ready. 


New Carpet

Carpets can wear quite easily and leave aromas and stains from constant foot traffic.

New flooring can transform a room's appearance and give the room a “new” feeling. I wouldn't invest in installing any expensive hardwoods nor any cheap laminate.

You won’t get the value of replacing the floors with expensive materials and you will turn off some buyers with cheap flooring.

If there are existing hardwood floors underneath the laminate or carpet, It would be best to expose those hardwoods and give it an elegant and colorful finish.

Laminate floors will give the prospective buyers the feeling of a cheap rental.

Don’t go too expensive and don’t go too cheap. Remember, in regards to upgrading your home, buying nothing is better than buying cheap.


Spruce Up Your Landscaping

Fresh mulch is a quick and simple way to transform your yard and give the home nice curb appeal.

Mulch around your planter beds, trees and shrubs which encourages healthy growth and green foliage.

In regards to landscaping for marketing and selling a home, less is more.

This is a good opportunity to simplify your yard and give the prospective buyers the option  to make their choice of what they want their new yard to be.

If your yard is cluttered, potential buyers won’t appreciate it as you have; they will look at your yard as a project.  


Makeover Your Kitchen Cabinets

If you plan to sell your home within 6 months, DO NOT remodel your kitchen! A kitchen remodel is typically the most expensive upgrade to a home.

You don't need to upgrade your entire kitchen when selling your home.

Refinishing your kitchen cabinets is a simple way to attract the attention of buyers without overspending.

Instead of purchasing all new cabinets, consider removing the hardware and doors refinishing the surface.

If you wish to paint your cabinets, you will need to consult with a contractor so your cabinets won’t look cheap.  

Get New Bathroom Fixtures

Replacing the bathroom fixtures and hardware will only cost you a couple hundred bucks, such as the faucets, cabinet handles, tub fixtures and shower head.

Be thorough and don’t cut corners. Buying nothing is better than buying cheap.

Pro tip: visit your local Habitat for Humanity for refurbished sinks and vanities.

You can also find many quality home items that were taken out from previous home remodeling projects. 


Fresh Paint

If you want your home listed to give that “wow” factor, a fresh coat of neutral paint is essential.

If you have colors in your home that aren’t commonly used by home builders today, change it.

Buyers like to feel like they are buying something new, even if the house has aged.

Fresh interior paint helps give the prospective buyers the sense of the house being well maintained.

If the budget permits, give the exterior a fresh coat of paint to give the house better curb appeal.  

As you prepare your home for the market, be true to your budget but be aggressive in getting your house to look and feel as much like a new home as possible.

Think of the feeling you’ve gotten when you’ve moved into your first apartment or when you’ve bought a home newly constructed.

Creating that experience will encourage buyers to compete to pay the highest price for your home. Once again, consider getting a pre-market inspection before you begin. 

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