Selling in a Slow Market

After you have used zillow to show real market comparisons and check the sales and foreclosure activity in your zipcode, you should try to show your price is reasonable and right there in the market today. This will show the prospective buyer a balance of your property with what they should see in the market today.  Honesty, knowledge and reasonableness are selling keys when dealing with today's buyers.

If your local real estate market is slow, consider offering buyer incentives. They don't have to cost you a lot, but they will give your home the edge over similar homes on the market.

1. Offer a home warranty.
2. Offer to buy down the buyer's mortgage interest rate. This may cost a couple of thousand dollars, but that's likely to be less than what it will cost you if your house languishes on the market and you eventually reduce it by $10,000 or more to sell it.
3. Offer to pre-pay a year's worth of association fees.
4. Offer a year's worth of professional lawn mowing.
5. Offer credit toward the buyer's closing costs.
6. Offer a weekend getaway at an attractive lodge or hotel. 
7. Lower your asking price.

Next article: Negotiating Goals for the Seller

Previous article: Open House Checklist

Related Links

• Seller's Marketing Tools
• Structuring a Seller's Counteroffer
• Closing on a House for the Buyer

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