Attracting Buyers

By
Real Estate Broker/Owner with Metro Brokers/Morningside Homes, LLC DRE# ER300941

There is a common body of knowledge among real estate professionals that indicates that the longer a home is on the market, the lower the price will be. Many sellers discount this belief in the beginning because they feel confident their home will sell quickly.

incentives - article.png

Lowering the price is the most obvious thing that can be done to encourage buyers but it might be good to look at what builders do. Builders offer a variety of incentives such as upgrades, seller-paid closing costs, interest rate buy downs, washers, dryers, refrigerators or big screen TVs.

Interestingly, much of the resale market doesn’t employ these techniques. According to the latest NAR Home Buyers and Sellers Profile, 64% of sellers did not offer any incentives at all.

21% of sellers offer a home warranty. 16% of sellers offered assistance with closing costs and 6% offered credit toward remodeling or repairs. 

The attached chart indicates that while 80% of sellers were not willing to offer incentives in the beginning of their marketing period, as weeks passes and their home hasn’t sold, closer to half did add incentives.

The ideal outcome is to maximize proceeds in the shortest time possible with the fewest unexpected issues. This involves having a firm understanding of current, local market conditions and crafting a marketing plan that will insure results.

There is so much at stake, the value of a trusted real estate professional is essential.

 

Posted by

Buy or Sell with Patty Clark              Denver/Aurora Co. and surrounding areas 

Chris and Patty

 If you would like to be sent properties on a daily or  weekly  basis just call or email me and let me know your wants and  needs. A match will be made with a home you love and with  monthly payments you can afford. I specialize in first time  home buyers and sellers who are ready to make a move.


patty@morningsidehomes.com

www.morningsidehomes.com
Cell: 720-231-5200                       CRS,GRI,WCR,SFR,CNE, MRE

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Tags:
builders
price
aurora colorado real estate broker

Spam prevention
Show All Comments
Rainmaker
536,097
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

Hi Patty Clark setting a price is the most difficult part of listing at times, especially when you have an unreasonable expectation from the Sellers. If the market is very busy when I list, and I agree to list at a higher price than I would recommend, we agree to a price reduction after 14 days and I have them sign a Price Amendment at the listing table postdated 14 days ahead...

Jan 16, 2017 07:08 PM #1
Rainmaker
1,192,240
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

I rarely see incentives, but everyone once in a while I do - and they do seem to help get homes under contract quickly.

Jan 17, 2017 03:40 AM #2
Rainmaker
445,706
Patty Clark
Metro Brokers/Morningside Homes, LLC - Denver, CO
Helping Families Make the Right Move

Kat,

Unless there is an issue with the property incentives are usually not needed. Back in the day paying buyer's closing costs were the thing.

Jan 17, 2017 07:22 AM #3
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
445,706

Patty Clark

Helping Families Make the Right Move
Ask me a question
*
*
*
*
Spam prevention

Additional Information