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What can we do to help sell a house in this market?

By
Real Estate Agent

Well after reading article after article my eyes are about as blurry as you can get without being totally blind. I have come to the conclusion that we as Real Estate Professionals are the ones that have to really get our sellers to realize that if they REALLY want to sell their homes THEY have to make their homes more attractive to buyers by offering what they can.

First they can offer all or part of the down payment for the buyer. As someone who has worked with alot of First time home buyers that is one of the major problems is not any or very much money for a downpayment.

Second have the seller offer a one year home warranty FREE for the buyer. That way the buyer will feel better about the purchase knowing that if anything goes wrong with the kitchen appliances or heat/A/C or electrical it will be under the warranty. If you want to help your seller, I just offer to pay for the home warranty for the seller. Then you have a happy seller and buyer.

Third the seller could offer to pay for the buyers closing costs. That's a big plus for the buyer because taxes and title insurance can add up.

These are just a few of the things we have done to help sell a house but not all sellers are reseptive to these things. Believe me, we have and had seller's who just think their homes are worth so much more and don't want to give an inch. The worse part about it is if the seller is a friend or relative it's even harder sometimes. They usually want you to pay for everything including you pay them for listing THEIR house. Okay......that's a joke but I feel that way sometimes.

I would love to hear anything that you have tried and worked really well.

Show All Comments Sort:
Ricardo Bueno
Diverse Solutions - Los Angeles, CA

It's all about incentives in today's market if you're trying to sell a home. Well, I don't want to generalize about Real Estate as I do believe it's more of a localized market and it would be unfair to generalize. But if you're having a tough time selling, you need to get creative and develop some incentives!

Staging! How's this for a tip. You can't expect your home to sell if it's not superficially appealing to the consumer. Though you're putting money into staging, you might just get a ROI here.

  

Jul 26, 2007 10:58 AM
Cheri Dueker
Transitional Designs, LLC - Saint Louis, MO
Transitional Designs, LLC, Home Staging St. Louis

I was going to suggest staging too. There is very good data that suggests that this service will allow the sellers to gain a higher profit with less time on the market. This service also allows the agent to have a property that shows well and will get lots of traffic.

Recently I have heard of agents offering a cleaning service to get the property show ready-pretty inexpensive option.  

Jul 26, 2007 11:04 AM
William Moore
Innovative Realty - Londonderry, NH
Incentives yes, gimmicks NO!  I cannot understand what benefit there is to giving away a cruise with the purchase of a home.  If a buyer is swayed by something as superficial and fleeting as a free cruise, they are bound for a case of buyers remorse a month alter when they realize they are stuck in the home.
Jul 26, 2007 11:08 AM
Victor DaGraca
Critical Home Inspections - Myrtle Beach, SC
Myrtle Beach Home Inspections

I would suggest that a pre-listing Home Inspection would help. The buyer could be persuaded by being told that;

"A home Inspection has been performed on this property and....

 A. it received a clean inspection or...

B. The following items were found to be in need of correction and were properly corrected by the appropriate licensed contractors or...

C. The following items were found to be in need of correction and the seller is willing to rebate the following amount toward those repairs.

Not to mention that a Pre-listing Inspection could forestall those annoying and pesky items found to be in need of correction just 2 days before the closing.

Jul 26, 2007 12:04 PM
Victor DaGraca
Critical Home Inspections - Myrtle Beach, SC
Myrtle Beach Home Inspections

I would also comment on your idea of a Home Warranty.

Google home warranty problems and see what you get.

Home Warranties exclude "pre-existing conditions.

Can you name something in a home that is NOT a pre-existing condition?

Jul 26, 2007 12:08 PM
Victor DaGraca
Critical Home Inspections - Myrtle Beach, SC
Myrtle Beach Home Inspections

After I made the comment about Home Warranties, I went on to read some more blogs, when I ran across this one.

About 2/3rds of the way down there is a reference to a home Warranty

Jul 26, 2007 12:36 PM
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

Another great option can be either owner financing or lease option. With owner financing to a person with great credit, the owner can make an additional 6% on their home and the buyer maybe able to save .5 to 1% on their loan.

Jul 30, 2007 04:16 AM
Armando Rodriguez
QUEST REALTY SERVICES - Orlando, FL
Orlando Homes 4 Sale, Real Estate Broker-GRI

How about pricing it right..

By right I mean at the low end of the active competition.

Solds don't mean too much in a declining market. It's what their asking for the house down the block that counts in this market.

Jul 30, 2007 04:46 AM
Arina Hanciulescu
RealtyPros - Las Vegas, NV
RealtyPros
Right! Same thing is happening with me too. Have not so much problem to get new listings as I have problem with selling them... I tried anything and everything on the sun... but nothing. It is quite scary. And what I don't appreciate is that everyone in this industry turns blind eyes to the reality of this market.
Jul 30, 2007 09:31 AM