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Selecting Real Estate

When many people start looking for a new home, they wonder what they should choose and how much of an investment it will be. Although many people aren't quite sure about what their new home will look like, the fact of the matter is that there are many aspects to be mindful of when it comes to real estate. From paying attention to how much things cost to looking carefully at your options, it really pays to understand and apply a little wisdom before you break ground on a project. Check out these posts to find out great tips about real estate.

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How to Start a Bidding War for Your Property

Real Estate Blog

One of the best ways to get top dollar for your property is to sell it via a bidding war. Below are some of the tips you can use to start a bidding war for your house.

1. Market Like Crazy

The more people are interested in your house, the higher the chances of a bidding war. The best way to get many people interested in the property is to market it thoroughly.  Here are a few strategies that might help:

  • Over-the-top staging. Staging the house helps prospective buyers to visualize it. Rent furniture and decorations to help with the staging, if necessary.
  • Professional listing pictures. Many listing pictures look nearly the same. Set your listing apart by using professional pictures. Have a professional take the pictures at different angles and at different times of the day.
  • Create a website. Many home searches start online. MLS listings don't include everything. Create a website where you can put up everything about the house.
  • Use all forms of media. People prefer different forms of media for communication. Use all the available media to reach everyone—including social and print media.

Your real estate agent can help you with further tips for marketing your house.

Price Appropriately

You are likely to get multiple bids if people think the house is attractive but not overpriced. One way to create such a feel is to price the house just below its market price. Price it too low and people will think something is wrong with the house. Conversely, if you price it too high, they will be scared to place bids. Therefore, get an agent to price the home and then lower the price slightly in the listing.

Set Deadlines for Offers

It also helps to set deadlines for offers. People don't want to miss out on great opportunities. Setting a deadline can also help you create a buzz for the sale. Those who have the fear of missing out may scramble to submit their offers, and you will get your bidding war. Just make sure you are on a sellers' market before you try this strategy. You might not get any offers at all if you are on a buyers' market. If you are not sure of the market conditions, wait until you receive a couple of bids or so before you set the deadline.

Hopefully, the tips above will help you get your bidding war. Just note that a bidding war is not the only way to sell a house at a good price. Learn more about your options by contacting a real estate agent. 

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25 February 2020