This is the first post in a blog series on tips for selling a home in a bidding war. Everyone who follows the real estate market closely has heard of the concept of a bidding war at some point, and if you’re a homeowner who is getting ready to sell your home, your mouth has probably watered at the thought of mercilessly pitting buyers against each other in a cut throat bidding war.
Tips for Selling a Home – Starting a Bidding War in Northern Virginia
Bidding wars don’t happen by happen stance, at least not in a normal, gradually appreciating, healthy real estate market – they happen by design. I’m by no means saying that you can always be successful in starting a bidding war, but I am saying that a bidding war generally won’t happen unless you implement a few key steps as part of the strategy for getting your property ready to sell. Here are the steps that will give you the best chance of selling in a bidding war:
1. Price your home competitively.
2. Have your listing agent tell buyer agents that you are waiting until the Monday after the first open house to review offers and make a decision.
3. Don’t disclose the exact amount of each offer you receive.
Keep in mind that all of these other tips for selling a home in a bidding war won’t work unless a home is priced competitively. Swarms of buyers don’t become interested in an overpriced home, and this is why effective pricing can literally be the difference between you getting top dollar on the sale of your home and you ending up having to sell your home for under market value.
Want to learn more about each of these key steps? Read Part 2 in my blog series on tips for selling a home in a bidding war…
Are you thinking of selling your Northern Virginia home in the next year or so? Call me at 703-462-0700 or email me at DarrenRobertsonHomes@gmail.com for a free comparable market analysis. This will give you a good idea of how much your property is worth in the current market.
Can’t wait for an in-depth market analysis? Get an instant online home value estimate.
As you can probably tell, I enjoy getting into the strategy of real estate sales. My blog has lots of great tips for selling a home, so stick around for a while and be sure to bookmark this webpage!