Baltimore Maryland Real Estate

Do Seller incentives really work?

March 5th, 2008 Posted in Real Estate News

Today many of my Sellers have been trying Seller incentives to help sell their homes.  Incentives are giveaways designed to attract offers.  For instance “Buy this house and receive a free plasma TV.”  Sounds like a great idea that may help close the deal – right?  In short, the incentive did not work.  Buyers thought the house must be overpriced.  Because of experiences like this, I recommend that Sellers skip the incentives.  Buyer see through them and think of them as  gimmicks.   The single most important thing a Seller can do is price the home properly.  Instead of offering an $2500 trip, I advise my clients to reduce the price.  If a home is priced prefectly, no incentives are necessary.   Aside from pricing, I also advise my Sellers to focus on curb appeal.  Add landscaping, flowers, paint your home a neutral color, remove all clutter.  

At the end of the day, proper pricing combined with  curb appeal and proper staging will sell your home.   A  buyer will not purchase a home they really don’t want  to get a free TV or trip to Disney World.   

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