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The Power of Competition: How Multiple Offers Boost Your Home's Selling Price

Our team found a unique way to find out how much a home will sell for.

Did you know that you can usually tell what a home will sell for based solely on how many offers it receives? It’s not an exact science, but usually, our team has found that for every offer a home gets, its final sales price will increase by about 1%. So if a home gets five offers, it will sell for 5% over the asking price.

Don’t get us wrong; there are other factors at play here, such as the home’s condition, location, and marketing. Also, if a home receives more than seven offers in our market, it probably was priced too low, to begin with.

We recommend pricing your home just below market value. This will ensure you generate plenty of interest while still getting a great deal. If you have questions about this topic or anything else, please call or email us. We are always willing to help!