July 15, 2007

Incentives – To Move a Property Fast!

We all know the most basic ways to increase the chances of a home selling quickly for the best possible price.  Many of the methods have now gone mainstream, adapted right from the TV flipping shows often featuring marketing-savvy experts.

We know for example:

  • Excellent curb appeal is an absolute must to even get potential buyers in the door.
  • A home with neutral colors is more likely to appeal to the broad masses.
  • Clutter and just too much stuff inside a home will absolutely kill prospective sales.
  • Kitchens and bathrooms are perhaps the most important selling points.
  • Staging can really help maximize and speed up a sale.
  • Each dollar spent making a home more appealing can bring several dollars in return.

But in today’s changing real estate market, even utilizing these tricks is not always enough.  Homes are sitting stagnant on the market longer and longer than ever.  If you really want to pull out all the stops and quickly sell a home for the best reasonable price, it’s only natural to get the pros excited about the property.

How?

Offer incentives to the selling agent.

The You Save Real Estate® Blog recently posted a nice feature, “How to sell your home quickly in a down market” that briefly summarizes the incentive process.

In fact, just slipping in the incentive’s details in a property’s MLS listing will let agents know you’re serious about moving the property.  If the incentive is lucrative enough, they’ll put their best salesmanship forward for you and your property.

While it’s generally best to ask around and see what specific incentives usually produce results in your area’s market, some do work better than others.  Always popular is the cash bonus for the selling agent.  If an agent knows they can make perhaps an extra $5,000 selling your home, why wouldn’t they want to promote it ahead of the other comparables they can represent?

Of course, the incentive doesn’t absolutely have to be a cash bonus.  Why not consider offering a nice vacation package or something else unique?  Again it just depends on the environment of your local real estate market.

All in all, there’s really no good reason not to offer some type of incentive for a slow selling property.  Anything to get that edge!

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