LIST LOW & SELL HIGH | BIDDING WAR Strategy For Sellers REAL ESTATE 2021

Listing your property in any real estate market, and especially in this Toronto and Ontario 2021 real estate market, you only have one chance to make the best first impression. There are a number of different listing strategies that can be used when pricing your property to sell for top dollar. Today we are going to be discussing the list low (underlist value) and sell high (over ask), sometimes known as the bidding war strategy for sellers.

What is the purpose of generating this interest and how is it used to sell for more, the effectiveness of this strategy is each market, and situations where this strategy may not be the most viable as a marketing tool.

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THE PURPOSE OF UNDERLISTING YOUR PROPERTY
The lower the price - the more exposure you get on your listing. The more exposure you get, the more buyers view and offer on it, leading to leverage for you as a seller to go and negotiate the best price with. Exposure and showings create demand for your property, which can be seen as a product, and the more demand a product has in the marketplace generally results in a higher sale price compared to similar products with less demand.

BUYER, SELLER & BALANCED MARKETS
In a seller's market where inventory is generally lower and there is a surplus of buyers, this strategy is extremely effective as buyers are more likely to offer given the product shortage, and that in turn gives you more leverage to work with regarding multiple offers. In a balanced market, depending on some factors such as property presentation, this can also be a great way to create demand and sell for more than nearby comparables. However, in a buyer's market, this strategy is much less effective as there are more comparable listings than buyers searching and underlisting your property can leave if you go past the presentation date without selling.

LEVERAGE FOR SELLERS
When dealing with just one buyer, your agent is limited on the negotiations that can be done on price and conditions, due to the fact that the buyers can simply refuse and go search elsewhere. But when you have multiple offers and leverage as a seller, this gives your agent the opportunity to use that leverage to negotiate more money or better conditions from the buyer/buyers that desire the property most. Generally resulting in a more favourable sale price than if that leverage was not present.

IS THIS STRATEGY RIGHT FOR YOU?
It may seem like everything points towards listing low and selling high, but this is an extremely important conversation to have with your realtor prior to going on the market. These are situations where you as a seller may choose not to use this particular listing strategy, or the market is not viable for it. For example, given the current situation, maybe having a stream of buyers through your property is not ideal or works with what you are flexible to work with, and you only want qualified buyers viewing your home. The market may also be in a shift and listing low might leave you stagnated on the market for too long which may ultimately affect the overall value and sale price.

Overall, there are options to choose from when listing your property and what strategies yield what results. Make sure you work with someone or understand the current market and the pros/cons of each method to ensure high margins of real estate success.

Thank you for watching, I hope you enjoyed the video!

Timecodes:
0:00​​​​ - LIST LOW & SELL HIGH | BIDDING WAR Strategy For Sellers REAL ESTATE 2021
0:33 - SUBSCRIBE
0:52 - The Purpose Of Listing Low/Below Market Value
2:03 - Buyer/Seller & Balanced Markets
3:05 - Having Leverage As A Seller
6:06 - Understanding Real Estate Consumer Behaviour
7:10 - How This Is More Effective That Listing High & Accepting Lower
8:35 - Is This Listing Strategy Right For You?
10:31 - Thank You For Watching!

**Disclaimer: Read about this and research it yourself before making any decisions.

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