Are you thinking about selling your property and it’s currently a seller’s market? There is no question that the market in Cincinnati and Northern Kentucky has been a seller’s market for the last several years. How can you take advantage of it? Keep reading this blog post to discover the 5 ways to attract multiple offers in a seller’s market in Greater Cincinnati Area or Northern Kentucky.
A seller’s market is one in which the seller has an advantage. This occurs when demand is high and inventor is low, which equates to being a lot of buyers but not a lot of homes available for sale.
As a Cincinnati real estate agent who sold homes in Fort Thomas, Anderson Township and all over the city last year, I can assure you that it was and still is a seller’s market!
But just because you naturally have an advantage in a seller’s market, doesn’t mean you’re home free to sell at massive profit. You should still strive to get as many offers as possible and, in doing so, give you the opportunity to select the best offer for yourself.
Why do you want multiple offers? It’s the simple concept of a “bidding war” – if you get one offer, you might feel forced to take it. But multiple offers allows you to choose from the best one, and even to negotiate from a stronger position.
Here Are 5 Ways To Attract Multiple Offers In A Seller’s Market In Greater Cincinnati Area
#1. Open House
One way to attract multiple offers is to have an open house. If it’s marketed properly you’ll likely get several people looking at your property within a very short period that could increase the number of offers you’ll get at once. This strategy can work, but it’s pretty rare. Most people do their house hunting online today and open houses normally will attract nosey neighbors.
Even though you might ask for and even get a high selling price, asking for a slightly lower price to attract multiple offers could be a better strategy. This is an excellent way to get multiple offers. Make sure you are working with a real estate agent who is GREAT at knowing the numbers and pricing the house right!
#3. Accept Offers At A Certain Time Only
One way to attract multiple offers is to only accept offers at a certain time. That way, if someone wants to make an offer, they have to comply with your time-frame and you may get multiple offers all at once. This is a great strategy if you KNOW you have a house in a coveted and HOT area of town like Oakley or Hyde Park.
#4. Stand Out
Another way to attract multiple offers is to stand out in some way. Take your property to the next level by making it beautiful, memorable, and desirable. Perhaps even paint the door a dramatic color so that it stands out. This will make it memorable in people’s minds and they may add their offer to your growing pile of offers.
#5. Targeted Buyers
A very powerful way to attract multiple offers (although it’s often overlooked) is to identify who might be the perfect buyer for your home and then laser-target your marketing to reach them. For example, if you determine that first-time homebuyers are ideal then stage your home for that buyer and then laser-target your marketing to reach them.
In a seller’s market you might normally attract multiple offers anyway – but the more offers you get, the better. Use these 5 ways to attract multiple offers in a seller’s market in Greater Cincinnati Area and Northern Kentucky.
Selling in a seller’s market might seem like the best option but one way to get another offer is to have us give you a cash offer for your house. We’re buying properties in the Greater Cincinnati Area KY & OH area and we’d like to make an offer too. Click here now to fill out the form or call us at (859) 412-1940 and we’ll get in touch with our best cash offer.