Out of the box solution for selling your home
In sales, we sometimes have to step out of the box and get creative in our packaging of a property. For instance, my seller’s home has been on the market for some time and based on the sales data is priced aggressively. During phone calls with the buyer’s agents to obtain feedback, they state “it’s at the top of their list” or “they’re crunching numbers”. Naturally, I ask them if they are considering another property. They say “yes, it’s between you and another unit around the corner”.
This is the perfect opportunity to renew buyer interest. I advise my seller client to consider writing an offer to the buyer. This offer must be realistic, and one the seller would expect to receive, including closing cost assistance to the buyer. It’s interesting how affective this strategy actually is. Typically the buyer’s agent is shocked to be receiving an offer from my seller. I advise the buyer’s agent that we understand the buyers are interested and we wish to cooperate in the sale of my seller’s home. More often, the buyer is focused on negotiating with my seller, and starts to emotionally commit to the transaction, because we’ve made the purchase process so easier for them. We omit the competition by bringing the offer to the buyer, and go to closing shortly after negotiating the home inspection.
The key to a success with this approach is (a) setting realistic expectations with your seller and (b) the spirit of cooperation with the buyer and buyer’s agent. Happy selling!
Interesting idea. Way to think outside the box!
Powerful idea. I like the “unexpected” aspect of this approach. We’ve tried this ourselves a few times over the past year. Doesn’t always work, but always worth the try!
Terry, you are right it doesn’t always work. The Buyer and the Seller have to have a cooperative mindset. If the Buyer is looking to steal the home, then this will surely fall apart. I have several happy sellers who can attest to the power of the process.