8 Ways to Increase the Number of Offers on Your Plano Home

Any seller's dream is to get lots of offers and choose the best possible deal. But how do sellers go about getting multiple offers? Here are eight ways you can increase offers on your Plano home.

Understanding the current real estate market is a great way to predict how your house will do while selling. The best time to generate multiple offers is when the market is either a seller’s market (there are more prospective homebuyers than houses for sale) or a balanced market (supply and demand are about the same). Analyzing the current market absorption rate, which tells how many months it would take for the listed houses to sell if there were no new listed homes for sale, is a good way to determine what kind of market Plano is. However, the ideal number varies depending on your location.

Most buyers want a home inspection before they commit to buying a house. Completing the home inspection before putting your home on the market gives you an advantage over other sellers and presents yourself as honest and upfront to your buyers. It streamlines the whole process and helps to lessen the amount of repairs during negotiations. It also gives you more time to complete any necessary maintenance.

It is important to have your home looking and feeling as inviting as possible. Relatively simple things such as repainting, caulking around fixtures and windows, refinishing the floors, opening the drapes to let in sunlight, decluttering, removing personal items, and replacing old light fixtures can all go a long way towards enticing a buyer’s interest.

 

Staging is also more important than many think; it can mean the difference between buyers scheduling a tour and going somewhere else. It might be a good idea to hire a professional stager to help. Professionals are familiar with design trends, the local market, and how to stage a home to spark interest.

Just as important or more so than the inside, the outside of the house is the buyers’ first impression. Trim your hedges, replace lightbulbs and fixtures if needed, paint the door, get some lovely plants that thrive in the local climate, weed the garden, and keep the lawn mowed. Considering the Texas heat, Plano residents should make sure they water their yard regularly, so it looks green and lush. It’s incredible the impact of adding some bright colored pansies to pots and flower beds can have.  It is always a good idea to put a little effort into making the outside of your home look fantastic; after all, many buyers make up their mind about a property within the first 8 seconds.

The price of the house is a huge deal, and it can be challenging to know what to charge for it. If the price is too high, buyers might lose interest and will not bid. On the other side, if the listed price is too low, it might undervalue the house. Many sellers have settled on a strategy to price low (but not too low) to sell high by listing their house at fair market value or slightly lower. As a pricing strategy, it captures the interest of many buyers, bringing in multiple offers and raising your chances of getting the highest possible price for your home.  You never want to undersell your property value. There is no perfect method or crystal ball when determining pricing; however, this is another place where an experienced and savvy agent will shine.

If you set a deadline for when offers need to come in, you indicate you are serious about selling your home quickly, as well as expediting the offer process. The deadline might even encourage buyers to make their offers stand out. The amount of time should be strategically selected based on the local housing market and your property type and should be shared with all potential buyers. This way, everyone knows when the best and final offers should be submitted.

With the pricing strategically tailored, the first weekend on the market should be your busiest time for showings. Now is the time to jump on them and most importantly, try not to decline any showing requests.  Schedule as many as possible, and schedule them back to back.  Buyers leaving the house will see other potential buyers walking in. Suddenly, the buyers have a sense of urgency; time is short. This strategy will enhance competition among buyers hence the potential for better offers.

Last but certainly not least, getting an agent is possibly the most important step you can take. Professional real estate agents have experience with the market and connections that can attract serious buyers. With their knowledge of the neighborhood and local market, your agent can help you create your strategies and respond to pricing, competition, and trend changes.

 

Not only that, but real estate agents can make every one of the previous steps easier. A good realtor knows the market like the back of their hand, whether it is a seller’s, buyer’s, or balanced market, how to deal with it, and when the time is right to list your home. They can help you get a home inspection and advise on outside and inside preparations; they might even have connections to a professional stager, handyman, painter etc.

 

An agent is exactly the person who will know how much you should list your house to generate more offers and how long the offer deadline should be while considering all factors. They know all the showing strategies, and not only that, a top agent can keep up with the buyers’ realtors who are showing your home. Keeping buyers’ agents up to date on received and prospective offers encourages their buyers to make a strong offer.

If you are looking for an experienced realtor who’s well versed in the Plano market, Courtney Tauriac is a real estate agent who knows the area well. With industry experience spanning over 20 years, she guides her clients skillfully from the beginning of the process to the very end. If you are looking for expert knowledge and friendly, professional service, Courtney Tauriac is the agent for you. If you’re ready to sell your home, contact her today.