How to Spark a Bidding War When Selling Your Home

How to Spark a Bidding War When Selling Your Home

When you sell your home, you aim to achieve the highest possible price, and few things boost a home’s price, like a bidding war. Although you can’t force people to bid on your home, you can make it more appealing, encourage more offers, and potentially start a bidding war.

So, what exactly should you do?

Price your home to sell: Many sellers believe listing their home at a high price will generate a higher sale. However, pricing your home lower (even below market value) can attract more interest and offers, potentially sparking a bidding war and driving the price up. This is a strategy that you, as the seller, control. Discuss pricing strategy with your real estate agent and consider listing at a lower price to sell for a higher one.

Set a deadline: FOMO (fear of missing out) significantly affects home buyers. Sometimes, setting a deadline can drive offers, as people won’t want to miss their chance to buy your property. More offers increase the likelihood of a bidding war.

Get the right listing photos: Many buyers rely solely on the internet to find their dream home. To get multiple offers, it’s crucial to ensure your online photos are top-notch. This is your opportunity to make a strong first impression and attract potential buyers, so make sure your listing photos are of the highest quality.

Hire the right Realtor: Experience and track record counts.