| If you have already done the necessary work of | | | | (avg. 2-3%) |
| getting your house ready to sell, you now have the | | | | 3. Bonus Commission to a Buyers Agent (approx. |
| most important job which is getting as many people as | | | | 4-5%) |
| possible inside the home. This means MARKETING, | | | | These incentives work very well because: |
| MARKETING and more MARKETING (effective | | | | - Qualified Buyers know they can get more for their |
| marketing that is...) | | | | money and will rarely want to pay full price (before |
| One of the biggest mistakes I have made in the past | | | | they become emotionally attached) |
| and constantly see Sellers make is believing they are | | | | - Buyers are more protective of their savings in a slow |
| saving money by cutting corners and costs on | | | | economy and don't want to spend it on expensive |
| marketing. I agree that you do not want to spend more | | | | closing costs when they buy a house |
| than you have to, but at the same time you do not | | | | - Most Qualified Buyers use an Agent to find them a |
| want your house to become an expired or stale listing | | | | home and offering a bonus commission will |
| while values continue to decline and holding costs go | | | | undoubtedly make your house stand out to Agents |
| up. The latter can be much more expensive. | | | | (who have access to most of your target Market) as |
| Do You Want The Good News Or Bad News? | | | | opposed to other homes that are trying to cut them |
| Good News: You do not have to drain your savings to | | | | out of a full commission |
| offer the right incentives | | | | Now Create A Call To Action With A DEADLINE In |
| Bad News: These costs do affect your net equity | | | | Your Marketing |
| (actual profit that you walk away with from the sale) | | | | Why should prospective buyers and/or their Agents |
| and if you try to avoid them, you will probably pay | | | | choose to put your house on the list of houses they |
| them later and lose valuable time | | | | want to look at or show? Because not many Sellers |
| The Bottom Line: | | | | (except you) can say something like this: |
| If you want to sell your home to a qualified buyer for a | | | | "Agents, when your qualified buyers see that their |
| good price in a slow market, you don't want to gamble, | | | | family will proudly own and enjoy this gorgeous |
| you want to make sure you get the job DONE... | | | | maintenance free home with almost no money out of |
| Side Secret...This may sound odd but if you can afford | | | | pocket and $10,000 of FREE instant equity by XX |
| to, always pay MORE and do not pay LESS when it | | | | date, I will give you a bonus commission of 4-5%!!!" |
| comes to marketing! | | | | Doesn't this answer your Home Buyer's most |
| Marketing Basics You Need to Understand... | | | | important question effectively? |
| Marketing is composed of 3 different elements: | | | | You are commanding ACTION by saying in effect |
| | | | "Hey, here's how you can get one of the best deals in |
| 1. Message (What are we going to say?) | | | | the neighborhood, but ONLY if you act now...don't miss |
| 2. Media (How will we get the word out: Realtor, Mail, | | | | out!" |
| Signs, Ads, etc) | | | | Be creative with how you communicate these benefits |
| 3. Market (Who are we trying to target?) | | | | with a deadline in whatever media you choose. (I'll talk |
| Let's focus on the Message. The message should | | | | about Media later...) The first 30-60 days on the market |
| answer this question above all else: | | | | are the most critical, so you'll want to offer the best |
| "Why should I the prospective customer, choose your | | | | incentives possible by a deadline to force ACTION! If |
| house over all the other options available to me?" | | | | you applied secret #1, there's a good chance that you |
| 3 Proven "Must Have" Incentives: | | | | could receive multiple bids for your house which will |
| | | | cause you to have to take less of a "Buyer's |
| 1. Instant Equity: Know the average Buyers discount | | | | Discount". This is a big key in getting the top dollar |
| (avg 3%) | | | | value for your house fast! |
| 2. Little To No Money Down: Pay Their Closing Costs | | | | |