The Folsom, California, real estate market remains an area of great demand for sellers. At Kim Eckert Homes, we understand how leveraged this local market can be, and we can help you maximize your advantage.
If you are considering selling your property, here is how to attract multiple competing offers in this fast-paced environment.
1. Know Your Market
Folsom, California real estate market has been characterized by strong buyer demand over time. According to Redfin, Folsom home sales now receive, on average, 2 offers and are tentatively closed within about 29 days, which is faster compared to the previous year.
ATTOM’s data reveals that over the past year, 1,147 residential properties were sold in Folsom, with the median home price hovering around $767,500. With the sale-to-list price ratio exceeding 99%, one can hardly find a market better suited to sellers than this one.
2. Price It Smartly
What really matters the most for the creation of a buyer-war is pricing. It is indispensable to incorporate local comps, recent sales, and current inventory into the pricing decision. You might frighten away buyers by pricing too high, and on the other hand, you may lose money if you price too low.
At Kim Eckert Homes, we help you conduct a detailed comparative market analysis to determine the perfect “sweet spot” – the one that attracts aggressive buyers while ensuring you receive your fair worth.
3. Create a Strong Listing
When your listing hits the market, it needs to shine. Invest in professional photography, staging, and even virtual tours. Let people know what it is like to live in Folsom and all the benefits that come with it.
Additionally, highlight the reasons why the house is the best, such as an updated kitchen, newly installed energy-efficient heating, or trendy outdoor living spaces. Emotions often drive buyers; thus, these details touch their hearts and stimulate their decision to offer you the best possible price.
4. Limit Showing Times
One of the easiest ways to create a sense of urgency in someone is through the psychological trigger of urgency. You may want to have “open house windows” or restrict showings to specific periods, so that buyers will perceive the time to view your home as very limited.
This can escalate the competition, induce a higher number of offers, and help you eliminate people who are merely window-shopping and not seriously considering buying your house.
5. Be Strategic About Contingencies
In a market like Folsom, the elements buyers will use to distinguish themselves from one another are not only price but also terms. Offers sellers are looking at differ depending on the number, most of the time: Are contingencies removed? What is the size of the deposit? What is the closing date?
At Kim Eckert Homes, we provide you with the necessary support in organizing favorable trade-off scenarios. For example, a minute lower offer with fewer contingencies or a higher earnest money deposit can be chosen instead of the “higher but riskier” offer.
6. Request “Highest and Best” Offers
If you have two or more competitive offers, do not hesitate to ask for a “highest and best” round. This enables purchasers to clarify their terms or raise their offer price. Moreover, it indicates that you are serious and willing to proceed with the deal.
7. Provide Flexibility
It is usually the case that when you have multiple offers, the deciding factor is the speed of your response. Promptly responding to offers, counters, and questions helps to keep the ball rolling. If necessary, you can adjust closing dates or even permit a buyer to vacate earlier than agreed upon. These small things may influence a buyer’s decision in your favor.
8. Implement Strategic Marketing & Communication
Besides listing on different sites and the MLS, you can expose your property more widely through social media, local forums, and our network. By combining professional photography, drone shots (if available), and video walkthroughs, you can attract people’s attention to your home. The more people see your property, the higher the chances of receiving strong offers.
Conclusion
Navigating multiple offers in Folsom, California, real estate does not have to be daunting. With us, you gain the advantages of customized pricing strategies, expert negotiation, and the benefit of local knowledge, all of which are designed to attract top-level buyers and provide you with numerous offers to choose from. From listing to closing, we will be there to help you not only get an offer but also the best offer.
