The Best Way to Motivate a Sale Is To Create URGENCY
Have you ever been involved in a home-selling bidding war? Realtors who can’t create a sense of urgency won’t spark a bidding war. Urgency triggers emotion and can motivate buyers to “hurry up” and buy your home before somebody else does.
It’s no secret that multiple bids for a home will cause increased interest in your property. It’s also no secret that the more people who want your home, the higher the price it will sell. When buyers see heavy interest in a property, its value increases. Heavy interest also increases the urgency. Now the buyer must worry about losing the home to somebody else if they don’t act fast. And voilà, buyers are competing for YOUR home! Competition is crucial if you want to sell your home fast and for the most money.
Knowing that somebody else is equally interested in a home makes a buyer want it even more. It’s human nature and extends beyond real estate. Buyers will scramble to put in the highest offer in hopes of getting the home that everybody else seems to want. They may even increase their budget if they fear their dream home will go to somebody else. A good real estate agent will be a master at creating a sense of urgency among buyers. They make sure prospective buyers know they aren’t the only ones looking and let them know that your property is experiencing a lot of interest. These agents even light a fire under the procrastinators! Buyers know that they will need to move quickly if they want it. When choosing a realtor to list your home, ask them how they will create urgency for your home or how they have created urgency to sell homes in the past.
Only a handful of real estate agents can plan this out effectively, yet it is one of the most crucial elements of a real estate marketing plan.
Don’t hesitate to ask your realtor how many of their clients’ properties have received multiple bids.
I hope you found this series on Home Selling Insights useful. Give me a call so I can share more proven strategies for getting your home sold fast and for the best price.