Some Ideas for Selling in a Soft Market - 3

Offer Home-Buying Incentives, Rather Than Throwing Goodies at the Deal…

There are very effective ways to do this…and not some so effective methods. Although a flat-screen TV is appealing, or leaving the car in the garage are certainly eye-catching …not all of your sellers can do afford these maneuvers and they can be counter-productive.

The buyers are trying to decide upon a house to buy. Help them buy the house your clients are trying to sell.

Use closing costs as incentives. Cash-strapped buyers may tend to favor your seller’s home over others when your seller offers to help with closing costs. I’d suggest this is far more appealing that a flat screen TV.

Your sellers can also offer to pay for an interest rate buy down. Pay a point or two…when we’re talking about moving a $300,000 property and it’s urgent; a “point” costing the seller $500 to $1000 or so can be fairly enticing to the buyers when they see their proposed mortgage interest rate drop and their monthly payments reduce.

I think a “normal” buyer would opt for the interest rate reduction and lower monthly payments far more readily than a big television
screen.

The foregoing costs less as incentives than perhaps leaving the piano or buying plane tickets to Maui for buyers…and these items help with the home buying decision-making where it makes a big difference— a big enough perceived difference to persuade the buyers to purchase your property rather than moving on to the next dozen or so down the street.

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Here’s a link for some help on fixing up stuff: naturalhandyman.com

from The Porch ...

Mike B. Class Star^®