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Multiple offers. It’s every seller’s dream, right? It’s wonderful, and guarantees you’re getting top dollar for your house. But choosing the right bid comes with its own set of challenges. Here are some strategies to help sellers win a bidding war.
Work with an Experienced Real Estate Agent
“You shouldn’t go to war without a seasoned veteran on your side,” says Rosemarie Zembryski, Sales Associate at ERA Justin Realty, “You want a seasoned real estate agent who has experience handling several bidders.” Juggling multiple offers is a skill. Be sure to choose an agent with a proven record of handling bidding wars and ensuring a smooth transaction for their sellers.
Carefully Evaluate Each Offer
The highest offer wins, right? Not necessarily! “Money is not always the number one factor to consider,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “There is also the buyer’s financing, contingencies and closing date. We help you compare offers, so you can decide based on which buyer best fits your expectations and timeline.”
Be Strategic with Counteroffers
What if all of your offers are all basically the same? Sometimes multiple buyers all make offers around the same price point. If this happens to you, consider making counter offers to the top contenders. “Counter offers encourage prospective buyers to increase their bids so they stand out from the pack,” says Zembryski “Work with your agent to craft strategic counter offers that will fuel the momentum of the bidding war, and narrow down your options faster.”
Stay Calm and Objective
A bidding war can be an emotional rollercoaster. But if you navigate it adeptly, there can be a big payoff at the end of the ride. So, stay calm, be strategic and trust the process.
Bottom Line
Navigating multiple offers on your home can be tricky, it’s best to have an experienced real estate professional guiding you. Rosemarie Zembryski or any of the knowledgeable agents at ERA Justin can help you tackle the challenges that come with a bidding war and achieve top dollar for your home sale. Give us a call at 201-939-7500.
