sellers choose to set the price a little below market because
they want to have a fast sale and minimize the inconvenience. 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.
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
- 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."