Edging out the competition in a slow market

by Oliver 11. July 2007 17:29

As a Homeowner who wants to sell your house fat, what sets you apart? What have you done to set your house apart from the rest? Why would buyers want to buy from you?

Have you applied a fresh coat of paint and/or lower your selling price? Have you or your agent did some marketing like placing an advertisement in a local newspaper?

If yes, what happened? Was there an increase in activity?

It's really hard to achieve an advantage over the competition especially in a slow housing market.

Oftentimes there are many houses in the market comparable to yours. With this, you have to think of other added value you can offer the buyer? Is there an incentive(s)? Would you offer appliances (i.e. washer with dryer, gas range) as a bonus? If you have thought of this, you're thinking along the right lines. But you still must think of a more concrete and immediate advantage to the buyer.

Some have lowered their selling prices to as much as US$10,000 but if you translate this to monthly payments, this discount is just about US$70 per month. But if you want to be more creative, you can just take back the US$10,000 and offer the buyer that you will take care of the closing cost. This is far more advantageous to the buyer and this can spell the difference.

Or with that $10,000 in hand of the buyer, the buyer can choose to cover closing costs, pay their mortgage for a few months, buy new appliances, etc. This is a tangible deal that can give the buyer immediate benefit and can give you an edge over the competition.

It's a buyer's market now and this trick on the deal might be the trigger to lead the buyers to your place and sell your house fast. Just always keep in mind to think of the customers as wells as think like a customer. 
 

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