In a cooled housing market, what can sellers do?
Sellers can do a few things to attract potential buyers. They can promise to give a car or other valuables. Most buyers want the sellers to pay the closing costs. By closing costs, we mean escrow, loan fees and other payments. The seller can also pay for extended home warranties or a lower interest rate on the buyer's new loan. At the same time, the seller may be worried about whether or not the appraisal was right. It must cover the selling price, plus the closing costs. Sellers can offer bonuses to real estate agents who bring traffic to their listings. Thanks to the large equity that is in the homes, sellers can afford to be generous. Sellers must adapt to the reality of the times. There are too many inventories of homes. Potential buyers must have some good incentives to check and select the sellers' homes.
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