The real estate market in June hasn’t been as scorching as the weather, with homes typically selling slightly below their asking prices, according to new data from Redfin. This shift presents a challenge for sellers gearing up to list their homes, who may wonder how to ignite bidding wars similar to those homes in their area that sold above asking price. Fortunately, there are proven strategies endorsed by real estate professionals that can increase your chances of sparking multiple offers.

The foundation of triggering a bidding war lies in making your home irresistibly appealing to potential buyers. This includes classic tactics like pricing slightly below comparable homes, engaging an effective realtor, ensuring professional listing photos, and enhancing curb appeal. However, if these steps alone aren’t generating the desired interest, consider these additional strategies:

Set Offer Deadlines

Create urgency by setting a deadline for offers. This tactic encourages hesitant buyers to act swiftly, potentially including escalation clauses to outbid competitors.

Respond to All Offers

Even lowball offers can be leveraged to stimulate competitive bidding. Politely responding to all offers while mentioning higher competing bids can motivate interested parties to improve their offers.

List During Holiday

: Selling during holiday seasons, when fewer homes are on the market and emotions are high, can make your property stand out among limited options.

Host Memorable Open Houses

Transform routine open houses into memorable events that attract attention. Consider themed gatherings immediately after listing, complete with personalized invitations, giveaways, goodie bags, a red carpet entrance, themed cocktails, gourmet snacks, and interactive elements like a photo booth.

For instance, hosting an ice cream social or lakefront BBQ open house can evoke emotions and lifestyle aspirations that resonate with potential buyers, leading to increased offers and competitive bidding scenarios.

By strategically employing these tactics, sellers can enhance their chances of generating multiple offers and achieving a successful sale in a competitive market environment.