Transition Thursday: 4 Tips to Start a Bidding War on Your Home

Chalk drawing of house and dollar sign on blackboardPrice low to sell high.

Listing on the high side and testing the market doesn’t work. Your home will sit on the market and you are helping the neighbor down the street to sell his home. Listing below market value will attract attention, increase traffic flow and generate showings in the first few days.

Set a deadline for offers: Yes, this is scary, as you may not get any offers. Yet, it can light a fire under the procrastinators. Agents and buyers like to know the expectation of when contracts will be reviewed. You can wait until the first weekend of open houses to determine if this is the best course of action for your property.

Spark interest ahead of time:

Announce your Coming Soon listing before placing the details on the multiple listing service. Using social media channels is a strategic way to begin creating a buzz. Mass emails to potential buyers and realtors is also key. You can also list the home on the MLS, but state no showings are allowed until the open house. People want what they cannot have.

Create a unique open house experience:

People want to come to a party. How about a neighborhood sneak-peek? I had a lovely property with a pool cabana and offered chair massage. Another, I hosted an art show. The next will offer interior design tips from my stager extraordinaire. Stand out, be different and entice people to come see the home and experience it for themselves.