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Old 06-17-2007, 08:53 AM
 
189 posts, read 740,376 times
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Which would help get more buyers to our home offering a higher commission, seller/broker bonus or even an incentive to the prospective buyer. We know the market is slow and we have done everything already. Really need to be in contract asap. Thanks
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Old 06-17-2007, 08:58 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 33,428,962 times
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Quote:
Originally Posted by pad3 View Post
Which would help get more buyers to our home offering a higher commission, seller/broker bonus or even an incentive to the prospective buyer. We know the market is slow and we have done everything already. Really need to be in contract asap. Thanks
As soon as you say "asap" the answer is always lower the price.

Just is no other spif as effective. Offer the normal Buyers Agent commission and then lower the price.
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Old 06-17-2007, 02:05 PM
 
Location: Earth
539 posts, read 1,886,644 times
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Default Is it possible to lower the price too much?

I have my house listed as a FSBO. I have paid a flat fee to a broker to get it on the MLS. We have dropped our price about $40,000 in the last month as we find the market is getting slower and slower in our area. (new homes going up and not many buyers). The broker doesn't think we should lower the price again, just yet. We are extremely motivated to sell as my husband has moved away to start his new job already. We are paying rent for his apartment and our current mortgage. We have a contract on a house with a "kick out" clause. We were worried that if the price was too low then people might avoid it thinking there is something wrong with it. (We have recently found out that there is a flaw, we have a common driveway and have found many people won't even look at our house for that reason).

Any thoughts?
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Old 06-17-2007, 02:26 PM
 
Location: Atlanta
58 posts, read 206,459 times
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Offering an incentive to Buyers Agentgs in my opinion doesn't do much if there are no buyers. We would be happy to have any ready, willing and able buyers. Offering incentives to buyers makes mores sense because you are giving them a reason to choose your home over another home similar to yours.
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Old 06-17-2007, 03:05 PM
 
189 posts, read 740,376 times
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What type of incentive besides lowering the price? I want to make us stand out from the rest.
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Old 06-17-2007, 05:57 PM
 
Location: Montana
2,203 posts, read 8,399,242 times
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Default It's all about getting it priced right.

Quote:
Originally Posted by olecapt View Post
As soon as you say "asap" the answer is always lower the price.

Just is no other spif as effective. Offer the normal Buyers Agent commission and then lower the price.
I agree with olecapt 100%. If the price is right on a home in great condition, it will sell, even in a slow market. Save the money that you're thinking of offering as an incentive and take care of any "negatives" with regard to the condition of your home. Then lower your price by 5% below the majority of your competition. If you're not ready to lower your price quite yet, then make sure your house stands out above the rest when it comes to condition, curb appeal, etc. If need be, hire professional home stagers to make the place look spectacular. That will really make your home stand out from the rest. . . . But you still have to make sure it's priced right. If your price is high, it will sit on the market regardless of any incentives you offer or "wow" factor your house has.
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Old 06-17-2007, 05:59 PM
 
Location: Atlanta
58 posts, read 206,459 times
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Do you have a HOA that has fees? Offering to pay those could help. Offering something like Lawm Maintenance for up to a year, 1-year Home Warrant, Decorating or Carpet Allowance..... I like to think of things I would want as a brand new homeowner with limited funds. Most people eventually want new carpet or flooring and or want to change the paint color. I would think of something along those lines.
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Old 06-17-2007, 06:06 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 33,428,962 times
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Quote:
Originally Posted by bungalowgirl View Post
Do you have a HOA that has fees? Offering to pay those could help. Offering something like Lawm Maintenance for up to a year, 1-year Home Warrant, Decorating or Carpet Allowance..... I like to think of things I would want as a brand new homeowner with limited funds. Most people eventually want new carpet or flooring and or want to change the paint color. I would think of something along those lines.
Stop..cut the frigging price...We are not builders trying to invent new spifs...we want to sell the house NOW! Cut the price.

We all just love to complicate the simple.
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Old 06-17-2007, 06:09 PM
 
Location: Atlanta
58 posts, read 206,459 times
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Cutting the price is not necessarily going to make someone buy the house. If you cut it, expect to still get offered less. So if you want to give the house away...go right ahead.
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Old 06-17-2007, 06:10 PM
 
Location: Montana
2,203 posts, read 8,399,242 times
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Quote:
Originally Posted by bungalowgirl View Post
Do you have a HOA that has fees? Offering to pay those could help. Offering something like Lawm Maintenance for up to a year, 1-year Home Warrant, Decorating or Carpet Allowance..... I like to think of things I would want as a brand new homeowner with limited funds. Most people eventually want new carpet or flooring and or want to change the paint color. I would think of something along those lines.
HOA fees, Home Warranty, etc are great ideas. Be careful, though, when offering a decorating or flooring allowance. Most buyers and agents look at those on the MLS and think, "Oh, so the carpet needs replaced. This other house is priced the same (the one without the flooring allowance), and the carpet must be in better shape, so let's look at this one instead." You'll get a lot more showings if the MLS says, "Freshly painted and brand new carpeting (or tile, etc) in neutral decorator shades!" If you were thinking of a $5,000 incentive, think how much more impact this could have. Plus the work is already done for the buyer. Most buyers want to be able to just move right in and not have to worry about replacing carpeting or repainting.
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