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Realtors – Creating A Bidding War

Written by Posted On Thursday, 07 September 2017 17:29

There's a false thought among many homeowners, and even some real estate professionals. They seem
to think that pricing a house with a high listing price will normally garner the highest offers. In some
market conditions, and for certain homes, this may hold true. However, it has been often found that
you’re are usually better pricing a house at a low list price, right from the off. Thus interesting a great
number of buyers and sparking a bidding war driving the price higher than you would have otherwise
received.

 
One reason homeowners should interview several prospective agents, before deciding who to employ,
is to learn, which approach, these folks feels makes the most sense, for a specific home, at this specific
point in time. This guide will try to briefly focus upon, as it may be a great idea, to think about, listing
one's home at a comparatively lower cost, and neither putting it in the high selection, or average
variety. Let us review when it may make sense to seek to make a bidding war says Carl Frederic Sealey,
and contemplating 6 factors, which could be relevant.
1. Is the market one that favors sellers?: A seller's market is generally described as a state, when there
are more buyers (qualified, sincere and prepared), than houses listed on the current market, or at least
at a specific, targeted price range, in this geographical location. When this is true, there are many buyers
interested, a few of that, might have been disappointed to have lost out, lately, on another house, they
hunted.
2. Price range: As there are generally more prospective buyers for homes in the lower to middle, price
ranges, compared to high - priced one, this approach makes more sense in that array. In actuality, one
needs a wise, experienced, professional representative, to ascertain when to employ this strategy!
3. Know the contest: Forget about yourself, but understand the competition! How are similar homes
priced? How powerful a negotiator is your chosen agent? Position the purchase price of the subject
residence, where it will attract a substantial number of qualified buyers!
4. Let buyers understand, from the beginning, at this cost, to bring their very best bid: We often hear
the saying, Finest - and - final offer, but this strategy demands articulating this, from the beginning.
5. Create buyer frenzy: Attempt to schedule appointments, so potential buyers bump into others!
Communicate the interest and action in this home. Let a possible buyer know how great a value it is,
and, if they're interested, they ought to introduce an excellent offer!
6. List cost = Starting price: When that is done correctly, potential customers will know, how this list
cost, should be considered a starting point notes Carl Frederic Sealey.
The owners said they would consider all offers, together, following the Open House on Sunday. By then,
there were a total of 23 over - listing, provides, 19 of that, I believed qualified. The last agreed - upon,
cost, was over 12% over the listing price!
Way more than they would have expected to receive for the property. So it goes to show you, inciting a
bidding war can be very profitable.

 

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Frederic Sealey

Frederic sealey is an American entreprenuer and investor with an extensive experience in capital invesment, commercial real estate development and venture capital management. Over 15 years experience.   

https://fredericsealey.biz/

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