You’re probably thinking, this is ludicrous! How is going through all this trouble going to help you sell your home quickly and for top dollar? You could be missing out on real bids! But there’s more to this story. Human nature will take over. We’ve just created a prime situation for competition to abound. Everyone who sees the home and loves it will want to make a bid. Some competitive players will bid just to see if they can win the prize! They’ll know from the start that you’re potentially getting offers from countless other people. You have just been set up to take multiple bids at once, and this gives you the freedom to go with the best one. Potential homeowners who really want your house for their own are going to start bidding high, and they might keep overbidding each other. In this type of situation—a bidding war—it isn’t uncommon at all for the seller to come away with more than their asking price. The reality is, you might only get one bid out of the whole shebang. However, the bidder isn’t privy to that information. The fact that they know they could be competing against other offers works in your favor. They’ll try to make an offer better than everyone else’s because they don’t have a clue that no one else is bidding. Who does the winner turn out to be? You!
NEGOTIATION TECHNIQUE #4: An Expiration Date for Extra Motivation
Remember, once you and the buyer agree to an offer and sign the
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