Periodic tips and reminders to help focus your by-owner marketing and win your commission-free sale - from Canada’s by-owner web-site, www.privatelist.com.

THIS ISSUE:      Buyer Incentives / Off-Season Marketing

ARCHIVES:     www.privatelist.com/newsletter.htm

BUYER INCENTIVES

Here are a few special incentives you can use to attract buyers if you need a quick sale or are trying to re-kindle interest in a property that has been on the market for awhile:

• if you haven’t already done so, promote your property at slightly below market value: as you won’t be paying a realtor fee, you can afford to under-cut the competition and still come out ahead;
   
• check with a few local banks to find out what appraisers they use, then have the house appraised: this will provide a strong negotiating tool, and save the purchasers time and money once you accept an offer;
   
• then take the appraisal to several banks and ask for a letter from each to pre-approve the house as collateral for a mortgage - mention the pre-approval in your advertising and negotiating;
   
• if you have a substantial (and assumeable) mortgage on the property, talk to your bank about a mortgage-rate buydown (you pay the bank to reduce the interest rate for some or all of the remaining term of the mortgage, thereby making it more attractive to prospective purchasers);
   
• pay to have a professional home inspection done, to reassure prospective purchasers that what they see is that they get (you may even be able to purchase a warranty on major appliances and mechanical systems for a set period of time);
   
• advertise "Vendors will contribute $1000 towards purchaser’s closing costs", or offer a decorating/landscaping allowance (less risky than doing cosmetic renovations yourself and hoping buyers will like your taste) or a free tank of heating-oil (if the season - and heating-system - is appropriate);
   
• leave the appliances, particularly if you’re anticipating first-time buyers or looking for transferee-purchasers.

We’ll say it again: you’re in a competition! So be creative and concentrate on standing out from the crowd! Extra cleanliness and showability are one way; special incentives like those above are another.

(For more selling advice, see our Timely Tips essays and the extensive resources in our buyers’ library.)

OFF-SEASON MARKETING

As a homeseller, you might be concerned that as autumn leaves start to fall the real-estate market is also preparing to enter a state of hibernation.

Don’t be! Statistics indicate that drop-offs in fourth-quarter sales activity are neither as deep nor as consistent, year-to-year, as you might assume: in fact, tallies sometimes vary only slightly from a 25% contribution to the annual total.

Consider:

• prospects may well be looking for a house in your area NOW even though they don’t intend to move until next April or May. You set the possession date, so you needn’t worry about being forced to vacate in mid-winter;
   
• some buyers actually prefer to look during the "slower" months, thinking that sellers will be more willing to offer a deal. As a private seller, you’re in a better position to give them what they want and still net more than if you’d hired a realtor;
   
• some buyers (transferees, for example) have to buy soon, regardless of the season - and the internet helps them find you, be they half-way across the province or half-way around the world;
   
• if you intend to buy again once you’ve sold, even relatively slow markets may work to your advantage, particularly if you do both transactions privately.

FRIENDLY REMINDERS . . .

It's important to maintain an active marketing focus until your property is sold. Just an hour every week-end, spent reviewing progress to date and mapping out a response, can pay real dividends.

Therefore, each e-mail version of PrivateList PROACTIVE ends with a series of reminders, and links to tips and tools for your on-going campaign.

To access these resources, press here.

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