Offering
Incentives When You Sell
Some sellers list at the
rock-bottom price they'd really take, because they hate
bargaining. Others add on thousands to the estimated market
value "just to see what happens." If you want to try
that, and if you have the luxury of enough time to feel out
the market, sit down with us and work out a schedule in
advance.
If there haven't been many
prospects viewing your home after three weeks, you may need to
lower your list price. If that doesn't bring any prospective
buyers, you may need to lower your list price again. Plan on
doing that regularly until you find a level that attracts
buyers. Make a written schedule in advance, before emotion
takes over and you're tempted to dig your heels in.
Sometimes cash
incentives are as effective as lowering the price,
especially in the lower price range where buyers may be
"cash poor." You may offer to pay such items as:
- Some or all of a buyer's
closing costs; and
- Discount points required by
the buyer's lending institution; or
If you haven't had much traffic
through your house and you’re in a hurry to sell, you may
want to add the offer of a bonus to the selling broker,
in addition to their commission. An example of the wording for
such an offer may be "to the broker who brings a
successful offer before the New Year."
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