In an appreciating real estate market, Buyers will purchase homes for more than they will appraise for. Smart sellers can take advantage of that.
EXAMPLE: The estimated appraised value of one of our recent listings was $750,000 MAX. The seller and I thought buyers would pay more. We listed at $750k, had a massive social media blitz and had 70 buyers walk through the home. Two offers came in at $755K. By the time it was over, the sellers accepted a contract with the following terms:
- All Cash
- Free Rent back for 3 months
- Inspection for “Informational purposes only”
- A back up contract at $781,000
The formula for success is simple:
- Put your home in condition for today’s buyers
- Price at the estimated appraised value (see Pricing Model)
- Market the home far and wide using conventional methods, i.e. cards to renters, Real estate internet sites like Zillow and realtor.com and have a massive social media blitz to your target buyers.
- Multiple contracts produce the highest offers in the first weekend.
- Have a skilled negotiator like The Casey Samson Team.