WHEN WAS THE LAST TIME YOU CALLED YOUR SELLER TO LOWER THE RATE?
Yes, lower the rate. With all the inventory out there, you as the Realtor must make your listing stand out. Many times you tell the seller, that the only way to get more showings is to lower the sale price. Asking a seller to lower the price of the home $10, $20,000. is not an easy task. It is money out of the seller's and your pocket. Consider this: If two similar homes are for sale and one is offered at 5.50 % interest and the other is at the current rate (Approx. 6.125 % ) what one do you think will sell. Easy answer, of course the one with the lower rate. How is this done? Have your seller pay points on the buyers mortgage. If a seller paid 2 points on a $300,000. mortgage that is only $6,000. I think that is better than reducing the sales price by $20,000 or more. You can put on the MLS "Below Market Interest Rates Offered On This Home."I even have yard signs that attach to yours that states this. It is another way I help market my Realtors.Finally, I also have a FREE marketing program for Realtors.It is part of the Hobbs/Herder system, and most of my Realtors cannot believe I do this for Free!