What Buyer Incentives Can I Offer In A Slow Market?
As real estate Brokers we are posed this questions a lot....so here are some possible suggestions:
In a slow market, sellers often must become creative and offer incentives to differentiate their home from others in the market. During a slow market, the number of homes for sale typically increases because the buyers are less available or shopping for bargains. Incentives offered by sellers can include: pricing the property very competitively; offering a substantial bonus to the selling broker, thus encouraging them to bring their buyers to your home; offering to contribute or cover the buyer’s closing costs; carrying the property tax for a period past the closing; considering a lease-purchase; considering partial owner financing; or signing up for a mortgage assistance program. Your agent should be able to suggest ways in which to make your home more marketable.