Over the past few years, Montreal has shifted from a buyer’s market to a seller’s market. Today, more property buyers are competing for the few properties that are available on the market.This situation has led to perpetual bidding wars, a sharp rise in property prices and more offers over the asking price.
However, not all sellers seem to attract multiple offers on their properties. You need to implement the right strategies to take advantage of the heated market and sell your property at the best price possible.
Here are a few tips that will help you move your property listing into the multiple-offer zone.
Price Your Home Aggressively
Typically, homes that get multiple buyer offers tend to be sold in an “auction” style. Think back to the last auction you attended or watched on television and you will remember this basic principle of auctions: the starting price is always low.
In fact, it is the relatively low price that gets a lot of people excited about the real possibility of emerging winners in the bidding war. It is the same thing when it comes to pricing your property.
Make sure that you price your home slightly under the current market value to attract more buyers, which will lead to a bidding war. If this strategy doesn’t generate the expected interest, you can simply decline all the offers and re-list your home at the right price.
Focus on Curb Appeal
This one goes beyond editing your home photographs and making them appear appealing online. The house will need to be in great shape when potential buyers show up to have a look at it.
There is no point in ensuring that the photos you post online are glittering, yet the same can be said of the physical property. The first impression of the property will lay the groundwork for how the potential buyer mentally feels about your home the entire time you interact with him/her.
If you are living in the house, consider de-personalizing it and cleaning it thoroughly. You can also paint your walls, kitchen cabinets and change the faucets. Keep in mind that it is the small things that matter.
Stage Your Home
Make sure that you prepare your home for sale under your real estate agent’s guidance. Depending on the state of your property, staging could compromise of simple things such as repainting your walls, de-cluttering rooms, or replacing fixtures.
Remember the fact that your primary goal is to create a great first impression without spending a lot of money on renovations. Your real estate agent will help you identify good investments that will play a critical role when it comes to staging your home.
Give Buyers and Their Agents Ample Access
It is always good to put yourself in the buyer’s shoes. Let us assume that 30 properties on the market meet the buyer’s specifications and needs in terms of the number of bedrooms, bathrooms, location, price range, and square footage. And 20 of those top the list.
But, the buyer has time to view only eight of them on a particular day. If the buyer can’t access your property today because you have got so many restrictions or demands around showing it, there is a high chance your home will miss out on showing with this qualified and motivated buyer.
If you want to attract multiple offers to your listing, it is essential to ensure that your home is available to potential buyers anytime they need to see it Although this might seem frustrating and inconvenient, it is good to consider what is at stake.
Know When to List Your Home
The day of the week when you list your property can also determine whether you receive multiple offers or not. Real estate experts recommend listing your property on a Thursday since most buyers usually plan their visits over the weekend. Going live on Thursday will give potential buyers time to discover your listing on Friday and plan for a visit on Saturday or Sunday.