How to Price Your Home to Score Multiple Offers

If you’re like most homeowners, you’re looking to get the most profit possible out of selling your home. One way to do this is to use a pricing strategy that will score multiple offers–which can then turn into a bidding war and drive up the sale price of your home!

The secret to doing this is quite simple. If you can determine the perfect price that your home should sell for… reduce that number slightly and then list at that price. This is how you’ll drive the most traffic and potential buyers to your home.

How? Intentional underpricing creates a sense of urgency among potential buyers, which can then spark a bidding war. The fear of missing out can lead to higher offers from buyers and quicker sales as buyers move fast to secure the deal. Additionally, buyers are likely willing to overlook imperfections or factors they don’t love when they feel like they’re getting a great deal

Your agent will help you choose the perfect price to list your home at through accurate valuation, competitive analysis, and a strong understanding of buyer psychology. 

By having a realistic estimate of your home's market value and understanding similar properties in your neighborhood to gauge market trends and pricing, your agent will be able to pinpoint the perfect listing price and drive traffic to your home. 

But what happens if you price your home your home at–or worse–above market value? Buyers are more likely to pass you by. Buyers who see homes listed at their market values tend to nitpick and see the imperfections or the parts of the home that don’t meet their expectations as big issues. 

Because the buyers don’t see the home as a “deal,” they’re more likely to push on negotiations or just wait for a home they like better to come on the market. This can lead to a stagnant listing and long negotiations.

By strategically underpricing your home, you increase the likelihood of multiple offers and potentially achieving a higher sale price than you might have with listing at market value.

Developing a pricing strategy with the help of a knowledgeable real estate agent will help you get the best deal when selling your home. Ready to see what you should list your home at? Reply to this email and let’s chat!