Interest rates may be at all-time lows, but home sales aren’t soaring. What’s a realtor to do? Reassure wary buyers! Here’s exactly how you can entice home buyers today.
Make mortgages less intimidating. Buyers may be having difficulty scraping up for down payments. You might consider offering closing cost credits, or chipping in for repairs to help struggling buyers. At open houses, have plenty of info handy about current mortgage rates. You could even set up a computer and keep it open to a mortgage calculator tool.
Make foreclosures less scary, too. If you’re selling a home that’s not an REO (real estate owned by the lender) or a short sale, shout it from the rooftops! Even better, put it on the “For Sale” sign and on any sales materials.
Show off increases in home values. Many buyers keep waiting for the real estate market to hit rock bottom; they worry that if they buy now, home prices will keep on dropping and their houses will lose value. If the homes in your market have had an increase in value, bulletin that information in your marketing. Make it clear that buyers should actually jump on homes now, before prices rise.
Make sure the price is right. If a house has been on the market for a while, it’s probably time to reduce the price.
Get the message out. Tricky sales times call for genius sales tactics. Spread the word about your house sale. Get on Facebook, get on Twitter, put up signs at universities, reach out to Human Resources Departments and see if they might be willing to alert employees, especially if you throw in an incentive to an employee who buys your home, like a year-long membership to a local gym.