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Blog by Patricia Houlihan - Personal Real Estate Corporation

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Got a waterfront property that isn't selling?

Maybe throw in a car!!!

 

Last year I was surprised to hear that a seller in San Diego had listed his home and was including a Lamborgini as part of the package!!!!  That is a pretty amazing extra for a prospective buyer!  The market is definitely slower and incentives help- I have to admit that on one of my own properties (ie. a property I own and am selling) I have not only lowered the price to where realtors are telling me it is too low (but hopefully that will attract buyers) I have also increased the commission that I will pay to the buyer's realtor and I am paying the successful buyer's realtor an additional cash bonus.....the theory is just as some buyers' realtors won't show listings where they are not getting paid a high commission, maybe some buyers' realtors will make an extra effort to show my home because they will make more money if they sell it.  I think that if the market remains slow, a lot of sellers will be willing to pay additional commission as one more way to make their home stand out from the crowd and increase the likelihood that it will sell.  Today, the car offer has also surfaced in Vancouver-but in a different manner than my San Diego example: a Vancouver seller is offering not only a good commission, but also throwing in a new car to the successful realtor....if nothing else, it will get people talking about the property!!!!