19 December 2013 - Linda Quinn

LINDA QUINN - The Quintessential Team - How to Generate Multiple Offers For Seller

hi this is Linda Quinn with the

quintessential team of keller williams realty in portland oregon this is jun 2013 and we're dealing with a really important subject today and that is part 1 of generating multiple offers for sellers and getting offers above listed price this is a market right now where we're seeing a lot of that because the inventory is down to 2.5 months which which is a very fast-paced market and we think there's a possibility the inventory will continue to drop throughout the summer and into the fall so how do you strategize getting multiple offers it's very easy one you hire an experienced agent like myself it's just like hiring a cardiac surgeon when you're needing heart surgery you would want someone that would do three a day rather than three a year and because I've been in at 37 years and we do about 56 transactions a year when you certainly know how to maneuver our way around obstacles I've seen this kind of market before and so we've had good knowledge base and lots of instruction on how to deal with the multiple offer situations on legal issues and liabilities obviously the very first thing you want to do is press it right

you're the agent you choose is going to give you a range a high and a low and most sellers definitely start with high they want to make sure they have a little buffer they also want to make sure that they get as much as they possibly can but there is a strategy in the market right now of pricing yourself on the low end and because it shows extremely well and there's lots of buyers out here for the same product there's a possibility that when you do price at low you not only generate multiple offers but you're going to actually force that price above what your high mark would be the next issue is staging it and this is really an important step because you don't live in a home the same issues home and if we can get you to have it absolutely perfect where when we bring in the professional photography which is the other thing I want to talk about you're going to have a lot of interest right on the internet because that's where your buyers start their looking the ninety percent of them start there and they're going to choose homes that really have a lot of Appeal and so if we can get you without any any huge expense

just maybe to rearrange your furniture pack up some items that you already have do deep cleaning and provide it the house and the best it's ever looked that's going to bring you more dollars in the long run the professional photography is important and we definitely have that with our homes I don't believe that most Realtors know how to use their cameras well they don't have the wide angle they don't know the angle they should take it in so it's really good to be able to have a flash that works well you get the best lighting possible on the home that professional photography in my opinion is worth more than the money it costs to produce it the next is a little tip one time I put a sign out and tigard on one of my homes and I put the word coming soon so we had a lot of visitors to the neighborhood we had a lot of neighbors and believe it or not we ended up getting an offer before it was put in the multiple listing service at 5,000 over the price just because they got excited and they didn't want to lose it my second tip on that would be is to generate that interest but do not deal with the offer until it's actually given

out to all the buyers on the market because at that point you may even generate more value for the price of your home so that coming soon sign can be a little strategy that you could use the next thing is is um decide on the remarks in the listing if you think you're absolutely going to get multiple offers it might be wise for you to put a date in the listing remarks that says will present all offers on Friday the 13th or something in that regards you'll have days to collect offers they know what to expect your highest and best should come in at that time and then you can sit down and 11 big discussion about which one looks best for you the next thing is inspection you want to make sure that your home is in great condition when you get multiple offers you've got opportunities to have the buyers not do certain things they can waive their revocation rights they can leave a home inspection or they can waive the repairs but if you had the home inspected prior to listing you could also get rid of that whole thing off the table do all the repairs ahead of time that would end up being on a home inspection provide

the home inspection with the list of things that are done and then you never have to do with that during the opportunity of presenting your offers and getting them accepted your best offer may not be the highest offer your best offer may be an offer that gives you three weeks worth of rent back free or something in there that is particularly of interest to you so guard very carefully some offers might be your best offer might be all cash we had nine offers on one of my homes last week and she didn't take the offer that was another 30,000 up because she was worried that they wouldn't be able to deal with all the repairs or the financing would not finance so she took an all-cash offer that was a very quick close and you might want to list on Friday The Wall Street Journal had an article recently that said that those who listed on Friday had offers one-point-three percent above the listed price so that's kind of an interesting thought I don't know how realistic it is but people do their tours on weekends with their agents so they're going to begin looking for the homes they want to put on tour and it would be a great time

if you're listed on Friday for your age have a Sunday open and that way you can generate even more interest at that point to pick up the traffic and perhaps bring another offer in the last thing is is to learn ahead of time what to deal with on multiple offers have a frank discussion with us about how to deal with them how to make sure that there's no legal liability in the way you handle them and be prepared so you don't have to spend hours and hours the day that you're reviewing what comes in we'd love to be a service we're at 503 70 69 187 and we'll be here waiting for your call thanks

XML Transcript: