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The problem Chess Pie is that many people in this world are either naive, or are afraid to speak up and negotiate. They don't think like the way you presented it.
That's why gimmicks work for some fools......
Jack, you are starting to annoy me. Chicagomichauds started this nice little thread looking for some helpful suggestions on things she can do to make her house stand out in this buyers market - there is absolutely NOTHING wrong with that. Please quit your constant negative harping anytime anything having to do with the housing market is mentioned.
Offering some sort of incentive is no different than when a potential buyer walks into a home and sees a feature in that home that sets it apart from all the rest in the neighborhood.
For example: I love to cook. If I were to visit 12 houses that were basically all the same, in the same or close neighborhoods and price points in the same range . . . but this one house had a Viking stove in it . . . I can assure you, all things being equal, I am gonna go for the house w/ the Viking stove.
So . . . was that a "gimmick" on the part of the seller? HECK NO. Neither is putting in the listing that the surround stereo and flat screen TV stays . . . or HOA dues will be paid for a year . . . etc.
If I saw something gimmicky the first thing I'd think about the house is what's wrong with it that they need a gimick? My second thought would be feeling like the owners were being cheap b/c instead of lowering the house to an appealing price they think I'm going to be fooled by something that's worth about $1,000 or so, compared to the price of a house it's practically insulting. I've owned a real estate co & sold real estate for 15 years & in my experience the main thing that sells a property is price. Think about it, you could have a terrible location but at the right price someone is going to buy it.
When you're trying to sell your house in a market with a lot of competition, I think that those people smart enough to come up with a creative incentive as a "gimmick" are probably also smart enough to know that that is not going to be the deal-maker on a sale. Instead, what they are trying to do is make their listing stand out a little bit. Potential buyers could be looking at listings for countless numbers of homes on the market; something a bit off-the-wall noted as an "incentive" is going to probably make at least some people just browsing a plethora of listings stop in their tracks for a moment - maybe long enough to take a closer look at that particular one - as opposed to the last dozen or two that they just breezed through.
When you're trying to sell your house in a market with a lot of competition, I think that those people smart enough to come up with a creative incentive as a "gimmick" are probably also smart enough to know that that is not going to be the deal-maker on a sale. Instead, what they are trying to do is make their listing stand out a little bit. Potential buyers could be looking at listings for countless numbers of homes on the market; something a bit off-the-wall noted as an "incentive" is going to probably make at least some people just browsing a plethora of listings stop in their tracks for a moment - maybe long enough to take a closer look at that particular one - as opposed to the last dozen or two that they just breezed through.
Location: The place where the road & the sky collide
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One thing that I've seen people do, successfully is to offer gift cards/certificates for supermarkets & drugstores to cover the initial stock-up that is needed when someone moves in. If you would reasonably assume that a family of 4 would be moving in, offering $500 in supermarket cards & $100 at a local drugstore plus a gift certificate for a really nice local restaurant, might get someone's attention.
In a previous housing recession, I've seen just the supermarket cards work.
As a first time home buyer some things that would sway at least a little in my favor:
1) Include maybe one or two big ticket items
- Fridge (800-2000)
- Washer & Dryer (1000-1800)
- Lawn Mower (200-400)
2) Closing cost help a lot
3) Maybe even help us find a good mortgage broker, talk to banks, see if any are offering deals, I found one that helped with closing cost which swayed me to use him. As a first time buyer if I don't understand the numbers I'm not going to make an offer. I'm not asking that you do all the leg work, but giving buyers a short little list maybe 3-4 brokers, incentives they offer, types of loans. A good buyer's agent is probably already doing this, but who knows maybe your potential buyer doesn't have that luxury
4) Gift cards to Lowes/Home Depot, if the person is moving from a rental and doesn't have a lot of the typical home owner's items or even tools, these things come in handy. I was pricing Trash Cans and they were like 80-90 bucks for the ones that are needed for the trash trucks that automatically pick up the cans (sry bout that wording on that, but hope ya get the jist).
Jack, you are starting to annoy me. Chicagomichauds started this nice little thread looking for some helpful suggestions on things she can do to make her house stand out in this buyers market - there is absolutely NOTHING wrong with that. Please quit your constant negative harping anytime anything having to do with the housing market is mentioned.
LM, it doesn't matter if its a buyers or sellers market. Gimmicks to buyers, or bonuses to realtors don't work. Ask a majority of realtors and they will tell you this. The OP is just wasting time.
The only true way to make your home "stand out" is to do the following:
1. Stage it to PERFECTION. If you don't know how to stage your home, hire a professional.
2. Lower your price
3. Offer closing costs.
If you don't have the luxury of having a good location, you might have to get even more aggressive.
All other things are just "noise" unfortunately.
The OP deserves to know the truth. Offering "TV's" or "gift certificates" will not be as effective as a lower price.
Location: The place where the road & the sky collide
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Quote:
Originally Posted by CouponJack
LM, it doesn't matter if its a buyers or sellers market. Gimmicks to buyers, or bonuses to realtors don't work. Ask a majority of realtors and they will tell you this. The OP is just wasting time.
The only true way to make your home "stand out" is to do the following:
1. Stage it to PERFECTION. If you don't know how to stage your home, hire a professional.
2. Lower your price
3. Offer closing costs.
If you don't have the luxury of having a good location, you might have to get even more aggressive.
All other things are just "noise" unfortunately.
The OP deserves to know the truth. Offering "TV's" or "gift certificates" will not be as effective as a lower price.
Jack, I agree with you on the staging & price, but when that's done, adding something to get attention, in a flooded market, can help. I've seen it work. I know several people in South Jersey who did the supermarket cards sucessfully. It doesn't hurt to try it.
LM, it doesn't matter if its a buyers or sellers market. Gimmicks to buyers, or bonuses to realtors don't work. Ask a majority of realtors and they will tell you this. The OP is just wasting time.
The only true way to make your home "stand out" is to do the following:
1. Stage it to PERFECTION. If you don't know how to stage your home, hire a professional.
2. Lower your price
3. Offer closing costs.
If you don't have the luxury of having a good location, you might have to get even more aggressive.
All other things are just "noise" unfortunately.
The OP deserves to know the truth. Offering "TV's" or "gift certificates" will not be as effective as a lower price.
Jack, OF COURSE it matters The only "noise" we're having to suffer through on this thread is coming from you I'm afraid. I hardly think chicagomichauds needs to be told "the truth" by you, especially because you are completely missing the point. The things you listed are all correct actions to take to sell your home - no one is disputing that. We are saying there is no harm in this tough market in a seller offering some kind of interesting incentive to entice buyers over to give her house fair consideration. I HAVE SEEN IT WORK, so please do not tell me or anyone else here it won't.
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The only "noise" we're having to suffer through on this thread is coming from you I'm afraid. I hardly think chicagomichauds needs to be told "the truth" by you, especially because you are completely missing the point. The things you listed are all correct actions to take to sell your home - no one is disputing that. We are saying there is no harm in this tough market in a seller offering some kind of interesting incentive to entice buyers over to give her house fair consideration. I HAVE SEEN IT WORK, so please do not tell me or anyone else here it won't.
