Robyn Seymour - Tips for Selling a Home in Bradenton, Florida

Most sellers are now in a confused state with the fall of housing market in Bradenton – Sarasota, Florida. Then how do you market a home in a down market? This article will help you with a few tips. Only about 3 to 4 percent of the homes in our local Multiple Listing Service are selling in any given month this summer of 2007. That’s a far cry away from our hot market of 2005 when 50 percent of the active listings sold each month. What can sellers do to attract buyers? Here are a few tips.

Remember that price is about 80 percent of selling a home: If buyers can easily find your home for sale in the Multiple Listing Service and it’s still not selling, it’s probably a price problem. Getting the price right is imperative in a down market. If you miss pricing the home correctly and months pass by, you have lost valuable time and money. We recommend pricing your home in such a way that you receive two to three showings a week. This is the excitement level. Homes priced at this level in our Bradenton real estate market usually have an offer within ten to twelve showings.

Offer attractive financing: Many first time homebuyers cannot afford a down payment. Some financing programs allow the seller to contribute the buyer’s down payment. You may even be in a position to hold a second mortgage for your buyer. Even holding a 5 percent second mortgage can attract a large number of buyers to your home.

Pay some or the entire buyer’s closing costs: Instead of just dropping your price, offer to pay the buyer’s closing costs. By paying the closing costs it may be possible for a buyer to buy your home for little or no money out of pocket. Put yourself in the buyer’s position. If you could buy a home with little or no money out of pocket would you do it? Most buyers respond positively to this type of offer.

Buy down the buyer’s mortgage: Buying down the mortgage means contributing cash to provide the buyer with a lower interest rate. By lowering the interest rate you open up the possibility to a larger number of buyers able to afford your home. Speak with a mortgage lender about this unique strategy. There may be several options that you can offer an interested buyer.

Offer to pay real estate taxes, home owner association fees, or maintenance fees in advance: I am seeing quite a number of sellers in our Bradenton real estate market offering these type of incentives. The buyer will have the advantage of knowing that these costs are pre-paid. They can then use their money for decorating their new home and they’ll love you for it.

Offer a home warranty: This might not seem like much of an incentive if you are selling a relatively new home, but for older homes this is a great idea. Home warranties generally cover the major components and systems of the home for the first twelve months. For example, if the air conditioning system breaks down, the buyer will pay a nominal service fee and the warranty will pay for the repair or replacement. The cost of home warranties run around $350.00 to $400.00 in our Florida market. There are a number of providers. As you can see, sellers have a lot of options when it comes to attracting buyers. If sellers get creative and present incentives to buyers they will find successful in a down market.