With sellers anxiousness over trying to sell their homes qucikly (then finding the reality of the market), I've found one of the best ways to get a buyer off the fence is to offer incentives.
I know it might sound like something out of the used car salesman's playbook, but I've found it to be very effective- and it can be done in a way to make someone serious about stepping up to the plate and making the offer.
Recently, for example, I was selling a home in Costa Mesa, CA and it had been on the market for a little over 4 months. We received a real, real low ball offer which the sellers turned down ($200k under asking price of $750k). Open houses had produce somewhat interested buyers, and I went back to many of them with an offer from the seller to buy down the buyer's interest rate, effectively producing an interest rate of approximately 4.875 %!!!
It was a win-win situation; the sellers did not have to lower their price too drastically and the buyers saved almost $400/month from what they would have paid otherwise. I've found these type of marketing incentives, when explained throughly to the buyers, seem to get them moving off of the fence.
I know there are others out there, and I would love to hear any other great ideas- I've got more listings to sell!!
Thanks!
Colin Delaney
Realtor, Veranda Homes
Costa Mesa Real Estate
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