Welcome back to America’s #1 Daily Podcast, featuring America’s #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? https://whylibertas.com/harris or text Tim directly 512-758-0206
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FACT: Not ALL Listings are selling immediately with multiple offers. If you’re sitting on ANY listing that isn’t getting consistent showings, isn’t getting offers, and seems way too quiet, you may need to implement these strategies to get them sold before they expire on you!
Price reductions are back and probably here to stay until interest rates come down. Meanwhile, you have listings to sell, so don’t wait to get into action. Be proactive and do the best job for the sellers who have trusted you for the job of not just listing, but SELLING their home!
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Real Estate Agents: Do you know all of the unexpected ways to sell your listings faster? Your mission is to make your listings stand out amongst the competition.
Last week, nationwide inventory rose by 15%. New construction is 31% of what’s available, and builders are throwing all sorts of incentives at buyers. With some builders, a buyer can close at a 5.5% 30-year fixed mortgage rate!
Why would a buyer choose your listing versus the one that’s for sale down the street? Why would a buyer’s agent choose yours to show today when there are 5 other choices? Why buy your listing when there’s all that new construction with builder incentives?
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11 Ways to Sell Your Listing Fast!
Instead of / or in addition to a price adjustment, do any or all of the following:
1. Seller to contribute $10,000 (or $5,000) toward buyer’s closing costs. This can help a buyer buy down the interest rate and lock it in at potentially far lower than the going mortgage rate. This is paid at settlement and flows through the title agency or attorney closing the transaction. This can actually impact the buyer’s payment MORE than the price.
Refer to our podcast called 3 Ways to Achieve a Lower Mortgage Interest Rate.
2. Seller to pay for 1 year (or 2) of buyer’s Homeowners Association dues. Again, paid from the seller’s proceeds at closing. If the monthly HOA is $300, then maybe a $3600 HOA credit from the seller would be better than a $5000 price reduction; it would at least make your listing stand out in the MLS. Perhaps do BOTH instead of a $10,000 reduction.
3. Seller to pay 1 year of property taxes for the buyer. Paid at closing by the seller. Similar concept to the previous point, but depends on how much we’re talking about. If it’s too much, perhaps a 6-month tax credit would work.
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4. If the house has condition issues, consider a ‘decorating allowance’ to be escrowed at closing by the seller, for the buyer. Always get feedback. If a buyer loves the house but just can’t live with that carpet, the seller can give a carpet allotment for example, and get that buyer to buy!
5. Pay for 2 years of a Home Warranty for the buyer. Make sure this is included in the comments. This is a pretty inexpensive perk, costing about $450 for one year of coverage. In many markets, it’s not offered by the seller and for years it wasn’t even asked for by the buyer, lest they lose the bidding war. Make sure you put it in the MLS comments if you offer this incentive.
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