Home Selling in Brainerd>Question Details

Hans, Home Seller in Brainerd, MN

Lower a selling price or offer to pay closing fees?

Asked by Hans, Brainerd, MN Thu May 13, 2010

What is the best way to attract traffic in a home, lowering the asking price (already lowered once) a second time, or offer to pay closing fees?

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I agree, lowering the price is going to get better traffic than advertising that you'll pay for closing costs. Because, if they don't like the price of the home... they might not look at it... if they don't look at it... they can't know if they'd like... Buyers pretty much assume that all sellers might be willing to pay for closing costs, it is negotiable as well as everything else in the contract. But, you really need to look at comps and determine what a really good price would be for your area. Pricing it right is key!
1 vote Thank Flag Link Thu May 13, 2010
Has the home been professionally prepared for the market? Is it spotlessly clean, some obvious needed updates and repairs done? Is it listed and not a For Sale by Owner? Are you getting lots of showings? Any offers? Price is not everything but if you answer yes to the above questions, the market may be telling you that you are not in it.
Web Reference: http://topbrainerdagent.com
0 votes Thank Flag Link Sun Oct 3, 2010
Listing with a real estate agent that does advertising, open houses, pre-qualifies buyers, and by listing the price correctly is what will get it sold. People search by price, although paying closing fees could seal the deal. Weichert Realtors is a National company, and Crow Wing and Cass county top seller, with many resources. Let me help you sell your home!
0 votes Thank Flag Link Thu Sep 9, 2010
Lower the price for sure, after all a house is worth what someone is willing to pay for it, not what the seller needs or potential buyer can afford to spend. Review recently closed similar properties in the immediate, and determine a price that will make you competitive.
0 votes Thank Flag Link Fri May 14, 2010
Price, Price, Price. Closing fees are good, but not a great attention getter. Lower the price.
0 votes Thank Flag Link Fri May 14, 2010
Hans, price,condition and location! You are still on the market, so that leaves price and condition. Are getting any showings? If so, is there anything you can do to help it show better. Sometimes $500 worth of carpeting can be worth an extra $5,000 in selling price. Given these two are your options (price and condition) stop and put yourself in a buyers shoes.
0 votes Thank Flag Link Fri May 14, 2010

Since paying closing fees typically does not have an impact on attracting buyers we would recommend going the route of lowering the price. Since the price is usually the very first feature noted by potential buyers, a lower price may make the biggest difference in your marketing campaign.

0 votes Thank Flag Link Fri May 14, 2010
...already lowered the price...

Doesn't matter if it is still priced too high for the area. You need to price it at or just below what the competition is at to make it attractive to buyers. See what similar homes in the same condition, size and area are listed at and price it accordingly.

Make sure the house shows at its best as well. How does the condition of the house compare to the others in the area. It should meet or surpass the competition.

A house that shows well and is priced right will atract buyers.
0 votes Thank Flag Link Thu May 13, 2010
To specifically answer your question, Hans............lower the price!

That will attract the buyers............it's your first line of defense.....especially on the internet and with the other agents (assuming you are listed or cooperating with agents).

You might wind up having to do both to sell your home....time will tell..........without knowing your area or home, it's hard to say.

Good luck!
0 votes Thank Flag Link Thu May 13, 2010

In this market you can pretty much assume that buyers will ask for closing costs, especially if your home is a first time home buyer type home. Closing costs can be addressed once an offer comes in and then negotiate on price with them.

First take a look at your pictures, what the buyers will see first online. If your home is not appealing via the computer screen there is a good chance they might not want to see. Undoubtedly price is the number one solution to all objectives. If you home is with in 5% of market value and you are still not getting showings then there just might not be much demand for your type of home/price/location.

What price range is your home?

0 votes Thank Flag Link Thu May 13, 2010
Hi Hans:
The best way to attract showings and offers for your property is listed at the right price, according to the current market. Are you working with a real estate professional who made a comparative market before determining the selling price? ...... Remember no one will buy or sell a property at higher or lower price, especially at the present time. Good luck.

Cecilia Stevanoski
Realtor Associate
560 60th St, West New York, NJ, 07093
0 votes Thank Flag Link Thu May 13, 2010
It depends... Are you getting showings on your home?
0 votes Thank Flag Link Thu May 13, 2010
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