How to start a bidding war on your home

If you’re selling your home, a bidding war is beneficial because it tends to drive up the final price of the property. Here are some ways you can increase the likelihood of getting multiple offers on your home.

1. Price your home to sell
If your home is overpriced, it’ll likely draw a few visitors. It’s recommended that you set the asking price for your home at slightly below market value to get more people interested in it and drive up the price in a bidding war.

2. Host a broker’s open house
Talk to your real estate agent about hosting a broker’s open house in order to show the property to local real estate agents. This is a quick and easy way to give your home market exposure.

3. Use social media
Sites such as Facebook, Instagram, and Twitter can be leveraged to generate buzz about your home. Consider creating a website for your listing, complete with pictures and details about the property, and share the link on your social media accounts.

4. Spruce up the property
Buying a home can be emotional, and many people won’t hesitate to increase their offer if they really like a property. To get buyers to love your home, take steps to enhance its appearance. Repaint walls, update window treatments, and sand and refinish hardwood floors.

Most importantly, make sure to work with a skilled realtor who can help you develop an effective marketing plan.