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5 Ways to Increase the Number of Offers on Your Home

5 Ways to Increase the Number of Offers on Your Home

From Castle Pines and Castle Rock south of Denver to the Aurora, Evergreen, and the heart of downtown, homes for sale in Denver have never been more popular. Despite higher interest rates and stiff competition for the most sought-after properties, buyers continue to seek residences across the metro area.

But unlike the previous two years, market conditions have produced a more cautious, conscientious home shopper. Though they remain willing to pay top dollar for the right home in the best neighborhoods, their expectations for what they purchase are higher than ever.

As a seller, you want to ensure your home sells quickly and at or above your desired asking price. As Denver shifts to a more balanced market, achieving those twin goals is a greater challenge. So how do you position your luxury Denver house for sale to generate more interest? More pointedly, how do you do it to maximize your original investment and inspire highly lucrative offers in a balanced marketplace? While it takes time, effort, and some additional investment, ensuring your listing stands out in the crowded market is simpler than one might think. Summarized below are five ways to increase the number of offers on your home.

Partner with an experienced Denver agent

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An outstanding real estate agent is a vital factor in facilitating your property transaction and positioning your home to achieve its maximum sales potential. Especially crucial when a market begins to cool, top Denver real estate agents offer insight and guidance into what works and what doesn't. They can show you ways your home may prove to be a unique asset to the right buyer.

More than the name atop a roster of the high-end listings, a seasoned agent brings a wealth of knowledge to the table. They possess a deep understanding of where the market is, where it's going, and how you can capitalize on current trends and buyer motivation.

Speaking of buyers, the most respected real estate professionals have a well-established local reputation. They'll have great relationships with buyer agents with high-end clients across the region. Interested parties will know immediately when your home is available on the market, if not days or weeks before its live listing. This translates to motivated buyers who want to be first in line to see your home and set the market by making an offer.

When choosing a listing agent, focus on those you best communicate with — a genuine partner you're comfortable entrusting with your luxury listing. Look to those agents that clearly grasp the conditions of the broader Denver market and the individual submarket in which your home resides. Expertise in your specific home type — a rural escape in Monument, a custom-built estate in Castle Pines, or a historic property in the heart of Denver — smart, savvy agents know how to market your property to the right buyers.

Though past sales success is a key indicator of an excellent agent, so is a lengthy list of satisfied sellers. Seek agents who saw their clients achieve their sales goals. Take note of reviews or referrals that speak to the agent's professionalism, communication skills, and guidance and support provided to their clients.

Consider modest upgrades to boost property value

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A common misconception about wanting to increase offers for your Denver area listing is that it's all about volume. To a certain degree, that is true. The more buyer attention you can draw, the more offers you'll get. But that approach doesn't always mean more lucrative bids.

To find that sweet spot featuring a plentiful number of bids at or above your list price requires you to position your property to appeal to the right buyer. Who is the right buyer, you ask? It's the one who can see your home as their own. Depending on your property's value and location, there are two ways to approach this.

First, luxury homes sold at modest prices — between $350,000 and $550,000 — benefit from minor to moderate upgrades. Improvements such as new windows, new or refinished flooring, kitchen upgrades, or bathroom renovations breathe new life into an older, "lived-in" house.

The investment for such upgrades is justifiable if your primary market supports the enhancements and boosts the property's overall value. Brighton, to the northeast of Downtown Denver, and Colorado Springs, 30 minutes south of Castle Rock, are markets where these improvements will increase your offers and bolster the final sales price.

Enhancements that impress high-end buyers

The second approach applies to homes with an asking of $750,00 or more. If yours is such a listing, consider eschewing any large-scale improvements to create a blank canvas for the buyer. At this price level, particularly homes over $1 million, deep-pocketed buyers come to the transaction with their own list of future improvements. Your goal is to prepare the home in a manner that supports their vision for the property. Focus on creating an open, airy environment where buyers can fulfill that dream.

Foremost, freshen up the home to like-new condition and promote plenty of natural light whenever possible. Add a new coat of neutral interior paint to brighten the proceedings and eliminate imperfections or wear. Clean windows. Replace or remove cumbersome window treatments. Replace large, heavy furniture pieces with staged, modern furnishings to open up your home and create space buyers love.

Upgrades may not be necessary. But small touches like updated lighting kits, new kitchen and bathroom fixtures, and fashionable cabinet and door hardware carry a huge impact. At higher-end price points, the key is to present buyers with a clean, modern home ready for a new owner to make it their own.

Improve your home's curb appeal

Never underestimate the importance of your property's curb appeal to attract buyers. In fact, sprucing up your home's exterior appearance is one of the surest ways to increase the number of offers you receive.

Start small by cleaning up and organizing your front and back yards just as you would the home's interior. Simple acts such as clearing out dead foliage, trimming back overgrown trees and bushes, laying down fresh mulch, and planting new seasonal flowers impact a buyer's first impression of your home.

If you want to take the outside improvements further, power washing sidewalks, driveways, patios, and decks is an instant win for livening up your exterior. Spend more to replace the home's front door or garage doors. You'll get back nearly your entire investment for those two improvements alone.

Though it may seem a lower priority to you as a seller, curb appeal can often make or break a property's standing amongst buyers. Online, your exterior efforts are reflected in high-quality images that show a well-cared for property. In-person, how a buyer views the exterior carries with them throughout the home tour. Impress them upfront. They're more likely to bring that goodwill and positivity all the way to a generous offer to buy.

Enhance your internet curb appeal

Building off the aforementioned high-gloss imagery that great curb appeal produces, it is worth noting the importance of your online marketing. Just as you want your listing to set the right tone physically, your digital presentation matters, too. In most home searches, the online listing is the first time a buyer is introduced to a home. Your home is sized up and instantly judged based on the pictures, copy, and information in your listing.
It doesn't matter where online that first encounter happens. The first digital impression is crucial for capturing and keeping buyers' interest. Even multi-million dollar homes face the same online scrutiny as lower-priced properties. If you don't pass the test, buyers will look elsewhere.

To grab their attention, your digital listing needs to be as polished as the home's physical presence. Hire a professional photographer familiar with shooting high-end homes. Push for high-quality photos that showcase major selling points and desirable features. Add virtual tours and videos to give the presentation life and movement beyond the static images.

Online listings are just as much read as they are viewed. Give your imagery context with superior copy, and don't skimp on details and critical information about your home's noteworthy features. Listings that stand out online will prime individual buyers for the in-person visit. Deliver that exceptional online experience with an equally impressive real-world experience, and you'll guarantee yourself plenty of offers.

Is it time to take the next step in your real estate journey and list your Denver home for sale? Contact Savvy Home Sales at eXp Realty today and allow our team's years of experience and expertise to be your guide in navigating Denver's luxury real estate market.

*Header photo courtesy of Shutterstock

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