Tips to Sell Your Home During a Real Estate Slowdown

Photo by realtor.com

With rising interest rates (and they are predicted to go up again before the end of the year) and buyers rethinking purchasing right now, what can sellers do to make their homes stand out and sell? Thanks to this realtor.com article for offering us some tips!

1. Consider offering an interest rate buydown. A rate buydown can be a specific amount of money the seller gives the buyer that is credited at closing. The buyer can use this money toward points on their mortgage.

2. Help homebuyers with big ticket items. For example, if your roof is older, you could offer to have a new roof put on before closing or hold money in escrow to pay the roofer after the new buyers take ownership.

3. Strategically reduce the list price. Reducing the price by a large chunk after the first 2 weeks, usually 5-10%, increases interest and shows the buyer that you are a serious seller.

4. Throw in something unexpected. Consider offering and highlighting high-end appliances or unexpected items like a big-screen TV, a large piece of furniture, solar panels, or even gardening tools.

5. Offer a home warranty. Adding a layer of security for a home buyer could give your home an edge. Home warranties are typically $550-$800 and could be paid at closing.

6. Offer to pay the buyer’s closing costs.