Sweeten The Deal
“In this cutthroat environment, buyers are devising increasingly elaborate ways to stand out. Some agree to unusual seller requests to close a deal. Others are trying to ingratiate themselves by offering sellers sports tickets, concert tickets, even all-paid vacations…” writes Nicole Friedman over the Wall Street Journal
- It’s war! Well Star Wars to be more exact according to Friedman. “After seeing a Lego collection and Star Wars paraphernalia in the house…Ms. Derr presented the gifts at the closing in September. Mr. Nallathambi and Ms. Somers chatted with one of the sellers, but the other seller didn’t say much, Ms. Somers said, because “he was too engrossed in his Millennium Falcon.”
- Cash is always king. Gifts are nice, but cash will always be the most in demand by sellers. “Ultimately, agents say, cold cash works better than clever gifts. About 27% of January existing-home sales were purchased with cash, up from 19% a year earlier, according to the National Association of Realtors.”
Stories about gifts to get your offer accepted were plentiful during the craziness of last summer. As the market slightly cooled toward the end of the year so did the gifts. Now that the housing market has heated back up so has the desperation to get your offer accepted. If you have to buy concert tickets or Lego set so be it. Just don’t under any circumstances, send the sellers a love letter…