Yes, it does happen and can happen for you. But you need to know exactly how to go about it.
Price for Multiple Offers
Pricing is always the most important single factor in the sale of any home — be it a Buyer’s Market, a Seller’s market or anything in between. When the market is not in your favor, you really need to hit the bullseye. There are many factors that go into what makes a home “priced well” or “overpriced”, and disregarding any one of them can result in you wasting away on the market unnecessarily. You have little chance of seeing one offer, much less multiple offers …
Understand the Market
There’s a vibe that people feel when it’s a Buyer’s Market. Buyers get the sense they are in control and can wield their current power, and often push the envelope when the signs are there they can do so. Sellers have the dreadful feeling that they’re about to get pummelled regardless of what they do, and a sense of helplessness tends to overwhelm them. Only a knowledgeable and experienced agent with a track record of success has the ability to guide you through such a market.
One thing that is always the same about the real estate market: it’s everchanging. The market is like the wind — you can’t see it, but you can often feel it, and you definitely can view the aftermath of it after something noticeable has happened.
Trust Your Agent
Ever wonder how important it actually is to decide on the right agent to represent you as a seller, the one who will shepherd you through this unpleasant market and challenging process with minimal bruises and maximum sales price? Wonder no more.
Your home is likely your most valuable asset. Allowing anyone that you don’t feel 100% absolutely confident can get you the best outcome possible is counter-productive and will likely be very costly in more ways than one. You want a world-class pilot, and nothing less — someone who’s seen all sorts of turbulence, has decades of experience, has been through just about everything, and can deliver you safely to your desired destination.
Don’t Agonize Over Things
Indeed, if you’re a seller when the market is soft, no one expects you to be overjoyed at the prospect. I know you don’t want to get it “stuck to you”. It’s also important to know that you were not born under a bad real estate sign. It’s just about handling the situation the best way you can.
Think about it — what do you do with anything important that has to be done? Yep, you just face the music and do what’s necessary. And the same is true here. Will it be an ideal scenario or a walk in the park? Probably not. But can you have it work out as favorably as possible for you given the market dynamics? Absolutely.
Any seller should sell when it’s best for them to sell. Does the ideal “Seller’s Market” always align with when they’re moving so their kids have better schools, or when they get that job in another state, or when they’re busting at the seams? No. Also, remember that there are some advantages to selling in a Buyer’s Market. The upper hand is what drives how negotiations go, every time in any market. Even in a less than perfect market, you can get the most out of it and have the upper hand — you just need to realize it and do what’s necessary to make it happen. And multiple offers, which obviously help you as a seller, are definitely still possible.