Attract Multiple Offers When Selling Your Home October 27,2016 | By Paul Johnson | Seller Tips

How to Attract Multiple Offers When Selling Your Home

Currently, Portland is something of a seller’s market, especially in the most sought-after Portland neighborhoods like Hawthorne, Healy Heights, or the Pearl District. Although the housing market is scrambling to meet demand with new construction, there are more young professionals arriving in search of housing than the current market can reasonably accommodate.

The good news for anyone looking to sell Portland modern homes or even classic craftsman fare is that a desirable property is likely to field multiple offers and perhaps even spark a bidding war. Still, you have to position yourself correctly to gain the best advantage from the current market. Here are a few tips to help you ensure multiple offers when selling Portland condos or homes.

Cosmetic Updates

Cosmetic fixes tend to be relatively cheap and easy. You won’t see a major return on investment, but refreshing the finishes could certainly help to spark more interest in your property and lead to a faster sale and more bids.

You might not be keen to undertake major expenses like a kitchen or bathroom remodel right before you sell, but you can create an updated look by painting walls and cabinets and updating flooring and perhaps even lighting fixtures throughout.

Don’t forget to address minor fixes like chipped or cracked tiles, windows that stick in the frame, and so on. When buyers see these issues they’re likely to wonder about other potential problems they can’t see.

Staging

After updating paint and flooring, it’s time to stage your home to display the potential in the space. This means removing most, if not all of your belongings, including personal items (photos, collectibles, art, etc.) and the lion’s share of the furniture.

Your realtor can probably help you with staging, but the main thing to remember is that you want your space to look like a showroom. Neutral furnishings and spare decor will make the space look larger and hint at how the room could be arranged, allowing prospective buyers to envision their own items in your home interior.

Price Slightly Below Market Value

Compare other Portland lofts, condos, and homes for sale (or recently sold) in your area to determine the fair market value of your property. Your real estate agent can help you here. Next, consider your strategy.

By pricing your home slightly below market value and undercutting overpriced competitors, you have the opportunity to gain more interest from buyers and generate multiple offers, a bidding war, and ultimately a higher price and/or a faster sale.

Photo credit: PDX Monthly