| Selling a property that just can't seem to sell is a | | | | both. For example, maybe offer to finance the |
| difficult one. I've been through it previously and I | | | | closing costs of the buyer or give the buyer |
| won't even wish it for my worst enemy (if I ever | | | | some repair credits at closing such that the down |
| I have an enemy which gladly, I don't). The | | | | payment your buyer needs to come up is near to |
| headache of not knowing what will happen next | | | | ZERO. In fact, market the property as ZERO |
| month, the horrible feeling that once again, you will | | | | DOWN and see your phone ring off the hook. If |
| most likely pay a mortgage payment without any | | | | they are qualified for an investment property |
| cash coming in, and the knowledge that the | | | | mortgage, show the house and if they like it, sit |
| money you expected when you first bought the | | | | down with them and discuss how they can buy |
| property is now a lot less and continues to go | | | | the property with ZERO DOWN. Probably there is |
| down every single month you don't sell the | | | | something you can purchase from them or trade |
| property... all mixed to make you stressed out | | | | with them so that the cash value of such trade is |
| with a property I call the "slow mover". | | | | their down payment. Just be creative. |
| If you're in this scenario, I can completely | | | | 3. Stage the property - the goal is to help the |
| understand you. I've been in that scenario several | | | | buyer imagine what it would be like to live in your |
| times. There are several solutions to a property | | | | house. Make it feel like a home to them. You can |
| that is NOT selling and here are some of them. | | | | put small furniture, paintings, floor mats and other |
| 1. eXtreme Marketing - this is what I am teaching | | | | things that invoke a nice emotional response from |
| my students. In a simple way, eXtreme Marketing | | | | your prospective buyers. Candles by the kitchen |
| is putting out a compelling marketing message to | | | | counter top or rubber ducks in the bath tub are |
| your target audience (or target buyer) exposed | | | | just some good examples that I can think of. |
| many times through multiple marketing media to | | | | Staging the property will separate your property |
| sell a home fast (or any kind of property for that | | | | from your competition. |
| matter). If your house is NOT selling, what is your | | | | 4. Owner financing or rent to own - in today's |
| marketing message? Is it the boring: "3 bed/2 | | | | environment, financing is difficult to come by since |
| bath house for sale $90K"? If I am your buyer, | | | | banks are very strict. Provide owner financing or |
| why will I call you with your boring message when | | | | selling the property on a rent to own mode. Doing |
| there are millions other houses with the similar | | | | so means you've just widened the pool of buyers |
| marketing message? Instead, make it something | | | | for your property to sell home fast. Sometimes, |
| like this: "Own a 3 bed home for the price of | | | | some of your prospective buyers think they can't |
| dinner" (or something like that). You're wondering, | | | | qualify for a mortgage but some of them |
| price of dinner, what could this mean? You see, | | | | probably will. Of course when you do rent to own, |
| I've just aroused curiosity in your mind due to a | | | | put in mind your buyer might end up returning the |
| simple twist and if you're in the market for a 3 | | | | property to you or he/she might not be the good |
| bed house, you will likely call ME versus my | | | | tenant you think he or she is. Be ready for this |
| competition. | | | | possibility. Collect as much non-refundable down |
| 2. Be flexible in your price and or terms - You | | | | payment or option consideration as you can from |
| have to oftentimes cut your losses and move on. | | | | your buyer or tenant/buyer to protect yourself |
| You can get back your losses with other | | | | from this scenario. |
| properties so be flexible on the price or terms or | | | | |