I always get about two or three calls a week from homeowners who are frustrated with their realtor and trying to sell their home. Many of these homeowners feel that their realtor is not doing all that he or she can to sell their home. They call me because they know that I buy homes and they want to see if I can help them or possibly buy their home. I often talk with the sellers about different options that they have to sell their home regardless of if they work with me or not. I am often amazed at the lack of education that some realtors have in creative financing techniques to sell a home.
I understand why a realtor would not understand many creative financing techniques. Many realtors have not had to use creative financing in the last market boom. When the market is hot, there is not much use for creative financing in most cases. However, when the market is slower like it is now, then creative financing becomes one of the strongest tools in a real estate professional’s arsenal. If you are a home seller and are serious about selling your home then in my opinion you have two true options. The first option is to lower your price to make your home attractive to the general market. This works if you have a lot of equity and don’t mind giving up a significant amount of equity to sell the house. Your other option is to hire a professional realtor or work with a company that is familiar with different creative financing techniques. Either one of these options usually results in selling your home quickly in a down market.
When choosing an agent, ask questions about their experience in creative financing. Ask them what alternatives they can use to sell your house if it does not sell right away. These simple questions will help you find a well-educated realtor to sell your home. In this market climate that can make all the difference between selling and sitting on your home for months or even years.
Until next week…