Multiple offers on listings around Oahu
Posted by Tony Kawaguchi, RA on Friday, June 26th, 2009 at 4:05pm.Even in a buyer's market, a down market, a down economy, you can get multiple offers on properties. I have 2 listings on opposite sides of the island with multiple offers right now.
How is this possible? WE PRICED THE HOMES FOR THE MARKET! It's simple - look at the active listings, the comps within 3 months (used to be 6 months but no longer) and put a price on the house that makes it a good buy for any buyer. Make the decision easy for buyers. By looking at the active listings, you know exactly what homes they will see. Then put a price on your listing that makes their choice obvious.
Some agents and sellers will want to price the home at the same as whatever the other listings are, or the same as recent comps, which means a buyer has to choose based on their preference for the house, or various differences each house has to offer.
But in today's market, you have to price the house BELOW the last sale, BELOW the other comps, and you'll most likely get full price or close. 2 of my listings are currently working with multiple offers, and we expect to come to agreement with a buyer soon.
Be realistic and you will sell in any market.
Aloha Tony
Hawaii Real Estate Agent
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