Price
Set realistic pricing on your home. Buyers have spoken, now sellers need to listen. Unfortunately, the buyers are not saying what they were saying one, two or three years ago. The market has changed and in order to sell in this market, sellers will have to change your mind set when it comes to pricing. To get a better idea of today's market, comparables within the last 3-6months would give a more realistic picture. Being just below market value could be rewarding in terms of shorter time on the market.
Cooperating Commission
As buyers become harder to come by, mortgages get more challenging to close; agents are working with fewer buyers. Offering a higher than normal commission rate would be ideal. In my market, I suggest 5% co-op for buyer's agent.
Financing/Terms
Sellers can offer to pay for mortgage points. Lower interest rates or monthly payments for a buyer are definitely something they can relate to. One point equals to approx. 1% of the loan amount, charged as prepaid interest. Seller can also offer to participate in down payment assistance or owner financing.
Buyer Incentives
Offer a buyer bonus, for example, $10,000. The buyer can use it anyway they want. They can use it to reduce the price, pay all closing cost, pay for discount points, etc. Other incentives include paying 1 year Homeowners Association Fees, Home Warranty, Plasma Television, etc.
Marketing
It now takes more than a lockbox and signage. It takes experience and a well executed marketing plan. The Realtor you choose should have a detailed marketing plan that will target the right buyers for your home.
Access/Easy To Show
Make sure that agents have easy accessibility to your home. With the holidays quickly approaching, families will be visiting and may be interested in viewing your home. Sometimes buyers come to visit family during the holidays and also set aside time to view properties and if yours is not available to show, then you may have missed your buyer and with the surplus of inventory, they are almost guaranteed to find what they are looking for. So, make your home available.
Staging
Staging is presenting your home in its best and most appealing light. You must de-clutter, de-personalize, re-arrange furniture and make minor repairs. Rent a storage unit to store some of the extra furniture. You are moving right?
Curb Appeal
Does your curb appeal pass the test? Buyers are not interested in seeing your home if the outisde is not well kept. Buyers have told me to keep going after they viewed the exterior of a property. This has happened several times. Buyer's perception is that if you haven't taken care of the lawn, then you haven't taken care of the property. Mow the lawn, trim the bushes, paint where needed. Look at your home through the "Buyers Eye".
Home Warranty
Home Warranty will give your home a competitive edge over other homes. Buyers have a piece of mind knowing that their home is protected against unexpected repairs.
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