marketing<\/a>, but still aren\u2019t getting much interest, that\u2019s when it may be worth considering additional concessions. Paris says, \u201cIf all of the marketing is top-notch [and you\u2019re still not getting traction], then you may have to reduce the price.\u201d<\/p>\nShe adds, \u201cI\u2019ve seen even just a small price reduction make a big difference in the number of showings we get and, ultimately, the number of offers we receive. Even a $10,000 price reduction can make a huge difference.\u201d<\/p>\n
This is also where a seller-paid rate buydown can come into play, especially if affordability is keeping otherwise interested buyers on the sidelines. Instead of immediately lowering your asking price, consider offering to buy down the buyer\u2019s interest rate to make the monthly payment more manageable and give them another reason to choose your home.<\/p>\n
The key is to use a rate buydown as part of a broader selling strategy, not as a substitute for making your home as appealing as possible.<\/p>\n
\u00bbLearn more:<\/strong> Before offering a seller-paid rate buydown, make sure you know what it could mean for your bottom line. Use our Net Proceeds Calculator to estimate your take-home amount after concessions and other selling costs, so you can see whether the extra incentive is worth it.<\/em><\/p>\n