How to Get Multiple Bids

Bidding wars. Buyers hate them and Sellers love them.

I have been involved with them many times over the years and they play out in many different ways.

How they develop is interesting. Sometimes they are because the Seller misunderstood the value and demand of the property and honestly priced too low. Lucky for them they went to market and a bidding war erupted helping them get to the right value.

Sometimes they are by design. The Seller intentionally prices the property below the market. This draws in more buyers and multiple offers. The competition often drives the winning bid up over the asking price.

The Seller never intended to sell at the advertised price. Their goal was always much higher.

So if you are the Seller and your goal is multiple bids price at the lower end of your acceptable price range.

Make sure your marketing strategy is very good to reach the best group of potential buyers.

And be careful. You have to be confident there is strong demand for the property. What if you go out at the low price and you get one bid for asking? Not only will you be disappointed but you may have backed yourself into a corner.

Contact Stephen

126 Newbury Street, 5th Floor
Boston, MA 02116