Hacks on How to Create Multiple Offers
February 16, 2024
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.
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.
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.
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.
Final Thoughts from Tim
After 17 years in the real estate business, I've learned that selling a home is so much more than just putting up a sign and waiting for offers.
As founder of the Tim M. Clarke Team, our goal is not just to sell your home, but to create a smooth, stress-free, and financially rewarding selling experience.
Based on the current market conditions, I recommend focusing on making your home market-ready to generate a multiple offer situation.
Simple upgrades like decluttering, staging, and landscaping can increase your home's appeal and value.
We also suggest getting a pre-inspection to identify and fix any issues upfront.
Pricing your home correctly from the start and hosting open houses are other proven ways to create interest and buzz around your property.
At the Tim M. Clarke Team, we utilize our deep expertise in The Triangle market combined with the latest data and technology to properly position and market your home.
We walk you through the entire selling process, negotiate the best price and terms on your behalf, and ensure a smooth closing.
Selling your home is a big decision, but with the right agent guiding you, it can be an exciting and profitable experience.
Let us show you how we can maximize your home's value and realize your real estate dreams.
Frequently Asked Questions About how to Create Multiple Offers
What are some tips for pricing my home correctly from the start?
We analyze recent comparable sales and current market data to recommend the optimal listing price. Pricing it correctly generates more interest and prevents overpricing.
How can staging and decluttering increase interest in my property?
Staging makes the home appeal to the widest range of buyers. Decluttering creates a clean, spacious look. This draws more buyers in and highlights your home's best features.
What repairs or upgrades should I focus on before listing my home?
Curb appeal projects like landscaping, exterior painting, and fixing cracks or damage. Update fixtures and appliances. Fix any issues noted on the pre-listing inspection to avoid problems later.
How can you help me maximize my home’s value during the selling process?
We use professional photography, targeted marketing, and data to reach the most qualified buyers. Our negotiation expertise helps obtain the optimal price and terms.
What strategies do you use to generate a multiple offer situation?
Pricing it competitively, staging it, marketing through MLS, social media and targeted outreach to buyers. This creates a sense of demand and urgency.
How does your experience in the Triangle market benefit me as the seller?
Our deep knowledge of the area, neighborhoods, comps and buyer demographics allows us to effectively position and market your home.
What steps do you take to ensure a smooth closing process?
We closely monitor the transaction, paperwork, and financing process to prevent delays. We proactively address any issues to keep everything on track.
How do you negotiate the best price and terms for my home?
Leveraging our experience with pricing data, buyer psychology and negotiation tactics to create competition and obtain the optimal deal.
What technology and data do you use when marketing my property?
MLS listings, professional photography, interactive floor plans, local market data, and targeted digital ads optimized for buyer demographics.
Why should I choose the Tim M. Clarke Team to sell my home instead of another agent or doing it myself?
Our proven success selling homes efficiently and profitably. You get a full team of experts focused on maximizing your home's value and ensuring a smooth sales process.
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