The improving property prices have turned the tide in the favor of sellers; however, some markets are still governed by the majority of buyers. If you are planning to sell your house in a buyer’s market, it might help to offer some seller incentives in closing the transaction quickly. You should have an idea of the main problems in the market and formulate incentives accordingly.
Seller Incentives: How should you choose one?
According to the market leaders, the most lucrative incentive in any real estate market is to put up a fair price of the property and maintain your house in the best possible condition. However, if you don’t have the time or investment to make the necessary improvements, it might help to sell it in “as is” condition. Make sure that “as is” listings attract lower amounts when compared with well-presented houses and you should adjust your prices accordingly.
Closing cost assistance is an excellent financial incentive, which can attract buyers looking for minor financial assistance. The amount of contribution will depend upon the financing loan or option that you buyer is planning to use. You should consult a REALTOR ® before throwing in some additional benefits because most of the properties sell easily (thanks to the improving market) without any added incentives.
Best Tips to Create Attractive Seller Incentives
The key to create lucrative incentives is to consider your buyers and their potential problems. A seller should have an idea of the potential buyer. Are you selling your house with a luxury tag and add-ons? Is your house more suitable for young families or starters? The best incentive would do justice with your home as well as your potential buyer. Let us find out some exciting ideas for creating seller incentives.
· If your house has a famous fishing location nearby, it might help to offer fishing equipment to your potential buyers. You can even offer a Jet Ski for water sports and attract a large pool of buyers.
· If you have a famous country club in your area, you can offer membership coupons or paid membership for a year to your buyers.
· For sellers looking to sell vacation homes, it might help to offer coupons or discount deals for designer furniture to their buyers.
· For first time homeowners looking to buy a condominium, it might help to offer paid homeowner charges for a year. Most of the new homeowners are concerned about the affordability of their new house and this will certainly help them to take a decision.
· A few years back (slow economic conditions), some homeowners offered luxury cars with their property making it highly attractive to the young buyers. You can try that, but make sure that deal fits evenly at the end.
You can always discuss the benefits as well shortcomings of seller incentives with your REALTOR ®. The best strategy is to offer incentives that can boost the value of your property and allow you to make maximum profit.
Hire a positive and proactive REALTOR® to help you find your next home!
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