A family in Calgary offers $5,000 for the successful buyers of their house to help pay for their wedding. (As newlyweds years earlier, it was their first home.)
Buyers of Christopher Meloni’s condo can have a sports car as well.
Other sellers throw in the furniture, advertise bonuses for the buyer’s broker, pitch a free vacation or dangle a year’s worth of house cleaning.
Will such tactics do the trick?
Maybe. To an extent.
But they are not the best way to ensure a sale.
Nothing is more motivating to a buyer than the right price, and gimmicks don’t change the price.
It is likely that sellers who resort to gimmicks take them into account when setting the asking price, making it higher than the property’s fair market value. The result: Some prospective buyers will miss the listing because the price exceeds the top of their range.
In addition, buyers are likely to undervalue the items that are thrown in before or during negotiations. For example, a potential deal can fall apart if the seller offers to include only a $500 wine cooler or outdated flat-screen TV rather than meet a buyer’s offer that is $1,000 or $2,000 lower than a level painfully reached until then.
When it comes to retail establishments, all of us have heard that tired aphorism of location, location, location.
When it comes to selling real estate, location obviously is important, along with other factors.
But nothing is more important than price, price, price.
Tomorrow: Gut trusters
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Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022