Offering Incentives
Some sellers list at the rock-bottom price they'd really
take, because they hate bargaining. Others add on thousands
to the estimated market value "just to see what happens."
If you want to try that, and if you have the luxury of enough
time to feel out the market, sit down with us and work out
a schedule in advance. If there haven't been many prospects
viewing your home after three weeks, you may need to lower
your list price. If that doesn't bring any prospective buyers,
you may need to lower your list price again. Plan on doing
that regularly until you find a level that attracts buyers.
Make a written schedule in advance, before emotion takes
over and you're tempted to dig your heels in.
Sometimes cash
incentives are as effective as lowering the
price, especially in the lower price range where buyers
may be "cash poor." You may offer to pay such
items as:
- Some or all of a buyer's
closing costs; and
- Discount points required
by the buyer's lending institution; or
If you haven't had much traffic
through your house and you’re in a hurry to sell,
you may want to add the offer of a bonus to the
selling broker, in addition to their commission. An example
of the wording for such an offer may be "to the broker
who brings a successful offer before the New Year."
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