These days with so many homes going in to bidding wars and getting multiple offers, setting an offer date has become one of the most popular ways to sell a home. In fact, setting a pre-determined date to review offers on a home is only one of many strategies that can be used to sell your home.
The mistake that some people make is that they assume what works for one, works for all. Not so! With todays’ sophisticated buyers, it is imperative that you look at your specific situation and determine the right strategy, specific to your home and your circumstances.
The offer date strategy has become popular in markets like Toronto, and is gaining popularity in other markets in and around the GTA, and in many cases may prove to be a prudent choice, particularly if the home being sold has the right qualities and characteristics to attract a lot of interest.
There are many factors to consider to determine if your home will attract the attention needed to use this type of strategy to sell your home. Ensuring that the timing and marketing strategy work hand in hand, is important to maintain that enough people have seen the home and are ready to make an offer on the chosen date. Determining the right listing price is of great importance when choosing to set an offer date. Priced to high and you will not receive the interest you desire. Too low, and it is quite possible that the potential buyer may not be willing to go as much above the asking price as expected, possibly taking potential buyers out of the bidding process. What if you set the price to low and don’t get any offers at all?
Deciding to set an offer date to get multiple offers just because it has worked in the past is definitely not a good reason for using this strategy. Not all homes with offer dates will get multiple offers on the chosen date and this may have significant consequences to the seller.
The most important thing when choosing a selling strategy is to be informed about which market strategy is best for you, and what marketing tools are being used to ensure that you get what you deserve. The best agents will provide you with all you need to make an educated choice; one that you will not only be comfortable with, but one you will have complete confidence making!