REAL ESTATE ARTICLES
Strategies That Will Sell Your House
Market The Deal and NOT The House
Are you a homeowner that has property for sale and is holding onto to the house waiting for a higher price?
Are you a seller considering lowering the asking price?
Have you fixed up your house or used 'home staging' and it is still not bringing potential buyers your way?
If the seller markets the 'deal' and not the house, more interested and potential buyers will come your way. Marketing your property is fine, but you want to entice a buyer to actually make the purchase. How many times have you seen a product for sale, but it was the 'deal' that actually made you purchase the item. Zero percent interest, skipping payments, receiving a rebate...those are strategies for marketing the deal and not the product. This same concept can be used when selling real estate.
Even in todays slow market, it is still a good time to purchase property. More real estate is purchased in slow markets because the purchase prices are lower than previously possible due to home appraisals coming in lower than they did in previous years. You can no longer get the price you once wanted. There is a large inventory of homes for sale. The mortgage meltdown, where there are no longer hundreds of subprime lenders have an impact on the market.
But, there are strategies to move a house in todays slow market. If your house is currently on the market and you find it is not moving or don't have the interest coming to your property ,you can take the following steps to become successful.
Now is a great time for sellers to offer Owner Financing, which would allow more buyers the opportunity to obtain home ownership. When offering Owner Financing you are offering a way for buyers to obtain the American Dream if they are not able to secure a mortgage through traditional financing.
The words 'Owner Financing' is a motivating message to potential buyers. They think...this house will be easy to buy, there will not be a lot of red tape. When a seller is asking for an all cash sale, this requires most buyers to qualify for a loan. Guidelines for obtaining a mortgage have become very rigid. This is creating a sales barrier for the seller.
Learning to be a successful seller when offering owner financing is as simple of gaining knowledge and having the right tools to support you throughout the transaction.
Another strategy is NOT lowering your asking price, but offering 'cash back' to the buyer. If you are considering dropping the price by $10,000, who is that really benefiting? Certainly not the seller and in reality, the buyer isn't actually saving all that much. For every $10,000 you lower the price, an approximate $60 drop is seen in the mortgage payment each month. That might not be enticing enough for a potential buyer to buy your property. It will take years for that buyer to see any benefit.
If you use that same $10,000 you considered in dropping your selling price and market the deal, it may bring a buyer to actually make the purchase. That is your goal...selling your property.
What if you keep your selling price the same, but offer $6000-$7000 to the buyer? They could use this for closing costs, pay off debt, pay a few months of their new mortgage payment or even bank the money. But, you will keep $3000-$4000 in your pocket. So, in reality you saved yourself some money, but did not lower your asking price and the good news is...you have sold your property!
Marketing the deal is what entices the buyer and will in the end, close the deal. When using this strategy, chose your words carefully. Be creative...a simple "Will Pay Closing Costs" may not be attractive enough. Maybe try...no payments for 3-4 months or Seller will pay off your debt or Bank $4000...whatever you decide, just be creative and make sure you are marketing the deal.
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AC Associates has helped individuals across the United States reach their financial goals.
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