Creating an auction for your home means getting buyers to start bidding against each other for it, which will lead to higher offers and a higher sale price.
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How does creating an auction style drive the most amount of traffic to your new listing?
Essentially, what we’d have you do right off the bat is price your home just below its market value so it already looks like a great deal and creates some buzz.
After that, we’d heighten the anticipation. If you listed your home on a Thursday, for example, we wouldn’t have you schedule any showings until the coming Saturday, which would be the home’s first open house. This will create a sense of mystery and cause people to want to see it—people are drawn to what they can’t see, after all.
Along with the general homebuyers curious to see your home, we’d also have an open house group set up to view it. With those two groups coming together, we create a turnstile effect of a constant flow of people coming in. This will boost your home’s popularity in their eyes and elicit a sense of urgency within them to perhaps write an offer. When people see other people interested in your home and writing offers for it, they’ll be tempted to write an offer too, and you’ll have created an auction for your home.
When this happens and they start bidding against each other, your home is more likely to sell for more than you anticipated.
If you have any questions about our market or employing this strategy for your home, don’t hesitate to give me a call or shoot me an email. I’d be happy to help you.
Essentially, what we’d have you do right off the bat is price your home just below its market value so it already looks like a great deal and creates some buzz.
After that, we’d heighten the anticipation. If you listed your home on a Thursday, for example, we wouldn’t have you schedule any showings until the coming Saturday, which would be the home’s first open house. This will create a sense of mystery and cause people to want to see it—people are drawn to what they can’t see, after all.
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When buyers start bidding against each other for your home.
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Along with the general homebuyers curious to see your home, we’d also have an open house group set up to view it. With those two groups coming together, we create a turnstile effect of a constant flow of people coming in. This will boost your home’s popularity in their eyes and elicit a sense of urgency within them to perhaps write an offer. When people see other people interested in your home and writing offers for it, they’ll be tempted to write an offer too, and you’ll have created an auction for your home.
When this happens and they start bidding against each other, your home is more likely to sell for more than you anticipated.
If you have any questions about our market or employing this strategy for your home, don’t hesitate to give me a call or shoot me an email. I’d be happy to help you.
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