How can you get more home buyers off the fence and get them to pull the trigger?
One of the biggest challenges many in real estate investing face today is not just getting their homes in front of prospective buyers or getting them in the door but getting them to actually make an offer, or more importantly a good offer.
4 strategies to sell more homes:
1. Scarcity
Scarcity is getting easier to impose on home buyers as competition for distressed properties increases, housing inventory shrinks and home prices rise but savvy real estate investing pros know how to work this even further. Perhaps you tell buyers that you are so confident the home will sell quickly you will only accept at least full price offers, tell them you simply don’t have time to waste on low ball offers or negotiations that don’t match your terms or will be putting the home up for auction or making a decision by X date.
2. Justify it With the Math
Whether the problem is justifying the purchase itself or the price of the home use the math to help them see how much it makes sense. How much is it selling under previous sales price or cost to rebuild new? How much less are the payments than they are paying now for rent or will pay later?
3. “The Deal”
Perhaps it’s just a matter of giving them a reason they must grab it. Everyone wants to feel like they are winning something from the other side or are getting a bargain. So what about cutting the price by $5,000 if they commit today and close within 30 days?
4. Close the Ego
As much as buyers of all sorts blame the math for not buying the truth is this is often just an excuse. Savvy real estate investing pros realize that it is ego and emotion which really do the buying. What will this home do for their ego, how will it save them pain or make them happier?
