With so many homes on the market, sellers in Spring Hill and Brooksville often ask “What can we do to make our property stand out from the others?” The short answer to that question is simple: Lower the price.

But if you’re a seller who already has lowered your asking price — maybe more than once — and you aren’t prepared to go lower, it may be time to start brainstorming with your REALTOR® about incentives you can offer that will help bring buyers to your door.

When it comes to incentives, the possibilities are virtually endless. And they are most effective when other sellers in your neighborhood also have reduced their prices on their real estate, which lessens your chance of being unique.

Incentives can range from furniture to financing. But some are more practical and dependable than others. While offering to throw in a Harley-Davidson or a golf cart might catch certain buyers’ attention, it probably won’t appeal to the majority who are focused on affordability above all else.

This overview about buyer incentives is the first in a series of articles in which I will identify some of the most successful ideas, as well as some of the ones that are just plain silly.

In this installment we will start with an incentive that provides both a tangible value and an intangible that you can’t put a price on — peace of mind for the buyer:

Home Warranties

Home warranties cover the repair or replacement of many appliances and operating systems, usually for a period of one year. A basic warranty usually covers plumbing, microwaves, stoves, fans, ductwork, dishwashers, garbage disposals and electrical malfunctions, and central air and heating systems.

Additional coverage can be added, at a cost, for other items such as refrigerators, automatic garage door openers, pool and spa pumps and motors.

(At Century 21, the American Home Shield warranty also includes a free termite inspection from Terminix.)

For buyers, a home warranty creates a valuable comfort level by not having to worry that something “major” will malfunction after just investing a lot of money to close on a house.

For the seller it is a relatively inexpensive add-on that demonstrates you have confidence and pride of ownership in the product you are selling.

Coming up…

Check back here soon for more suggestions that home sellers can offer potential buyers to get an edge on their competition. Offering to pay for closing costs, interior and exterior upgrades, taxes, homeowners association dues and financing down payments are just a few more we will explore.

But remember what we said at the outset: The price of your home has to be realistic, and low enough to bring the buyer to your door in the first place. Then may you begin to talk about incentives in earnest, and perhaps even customizing them to adapt to your potential buyer’s circumstance.

The bottom line: Work with your REALTOR® to be creative, flexible and, if necessary, generous with your incentives. The goal is to realize the investment on your Hernando County property within the timetable you have established.

THE Gail Spada TEAM hopes you have found this information useful. Your feedback is encouraged. Until next time, please remember our pledge: When it comes to buying or selling property in Hernando County, we make sure … it’s all about YOU!