Five Different Ways to Sell Your Home
Selling your home is not a passive exercise. In addition to securing a broker, you'll have to be active in the marketing and promotion of your property. Consider these techniques for generating buzz, impressing buyers and negotiating a final sale. While some of these ideas might be unorthodox, they might also land you the deal you're looking for.
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Go Beyond the Open House
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Invite potential buyers to have dinner, spend an evening on the patio or even crash for the night on air mattresses. The experience will resolve any questions about your house that can't be answered in a specs sheet, inspection or walk-through. Take this step only if you're confident nothing will happen during the extended visit to discourage buyers from closing the deal.
Make It Look Good
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The better a home looks, the more it will sell for and the difference in resale value will usually outweigh the renovation costs. Stage your home with up-to-date decor and a fresh coat of paint. According Smart Money.com, 84 percent of home buyers start their search online; a professional photographer to take high-quality photos for an online profile and a video tour of the home are good investments to raise interest. Make it easy for buyers to come to an open house so the home gets as many views as possible. Offer several showing times, including a time that promotes a selling feature of the house; for example, an evening sunset.
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Offer Incentives
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Throw in an incentive to add value to your home -- for example, condo maintenance fees for a set period of time after purchase, propane costs, even a bonus such as gift cards from a gas company. New Hampshire Realtor Michael Travis told Bankrate.com he once offered a free house with the purchase of a boat. The gimmick attracted enough attention to eventually sell the home, but not the boat. A cash-back offer marketed as a "decorating allowance" as part of the purchase package is another option.
Enter Into Unconventional Buying Arrangements
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Consider swapping houses with another seller. Websites such as GoSwap.org and OnlineHouseTrading.com match sellers who agree to buy each other's houses with all of the same steps as a usual sale. The arrangement might appeal to a seller wishing to upgrade and one wishing to downsize. You can make a similar arrangement with a builder, in which a builder will buy your house if you agree to buy a new home he has completed. Bankrate.com cautions that builders typically pay below the asking price in these arrangements. Consult a lawyer or experienced broker for advice if you are considering the swap or sale-to-builder route.
Be Flexible With Buyers
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If you're selling in a market where financing is difficult to obtain, consider accepting cash for below the asking price. This gives you a payment guarantee if you're concerned your buyer's financing for the higher price might fall through. Do a cost-benefit analysis to compare taking a hit on the price in return for a guaranteed sale vs. leaving the house on the market for an unspecified period of time.
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