Buyer Incentives? Or drop the price?

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Real Estate Agent with Shoreline Properties

HI Everyone,

Here in the Florida Keys we currently have a surplus of inventory just like most other markets around the country. We have been seeing increased activity lately, the buyers are starting to make thier moves and the best deals are going fast! I need my listings to be noticed while these buyers are here. I know we need to be priced competitvely, or should we offer buyer incentives, seeing the asking price is already lower than the competition?

I currently listed a property in a gated community that has 4 different stages of condo's and townhouses. This phase being the largest and highest valued in the community directly on the water. The seller really needs to sell and has some equity. We are listed at $675,000 while the other comparable is at $729,000. We just added a buyer incentive of 2 years HOA dues paid at closing totaling nearly $20,000.

I feel the lower price should get attention, then when the listing is opened they will see the incentive.

Has anyone had good or bad experience with incentives? Please share. The seller needs to sell this place!

Thanks,

Happy Selling from Key Largo!

Jaclyn

Prudential Keyside Properties

 

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Rainer
17,000
.... ...
.... - Mauldin, SC

IMHO price is king.

Jun 24, 2008 06:59 AM #1
Rainer
91,793
Patrick Lambert
ALLY Real Estate - Waikoloa, HI
Hawaii Real Estate Expert

I think that pricing right is the way to go. Though buyer incentives can make people take a second look, it can cause problems later on with the appraisal.

Jun 24, 2008 07:02 AM #2
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Rainer
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Jaclyn Kelley

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