When I’m sitting down with a client helping them write an offer on a home in a multiple offer situation, they always ask me the same question: “Kurt, how much should I offer?”
In order to know what a fair price is, you’ll need to sit down with your own agent and look at the comparable home sales. Depending on the neighborhood in question, you may want to look back as far as six to 12 months. Try to compare properties in an “apples to apples” sense. For example, you don’t want to be comparing two-story homes with single-story homes, as single-story homes typically have a higher average price per square foot.
From there, your agent should be able to guide you through the stats to figure out what a fair, competitive price would be. It’s important to remember, though, that sometimes numbers on paper don’t mean a whole lot. Homes tend to speak to people’s emotions above all else. It wouldn’t hurt to formulate a strategy to appeal to these emotions, too, so you can win the house you want.
By the way, our Anew Real Estate Crew is hiring! We’re currently looking for part-time administrative help and, as always, some fantastic buyer’s agents. If you or anyone you know would be interested, don’t hesitate to reach out to us.
If you have any more questions about multiple offer situations or real estate in general, give me a call or send me an email. I look forward to helping you in any way I can.