If you're under pressure to sell your home quickly, you may have to bite the bullet and take some dramatic steps to increase the chances. Consider the following proven suggestions to produce a quicker sale.Price the home ten to fifteen percent below your competition. All other things being equal, your home will readily appear as the best value. Also consider the price "range" your home will fall into and make sure you don’t squeeze out potential homebuyers by refusing to adjust your price by a few thousand dollars. For example, a $399,000 home will appear more attractive than a $410,000 home. By refusing to offer to sell at $399,000, you are excluding an entire category of purchasers who have qualified for a loan under $400,000.Ask your BREA agent about any incentives you can offer. Perhaps you can contribute more in closing costs or offer some extra furnishings or a piece of art work, for example. We’ve had clients who have included a run-about boat, a golf cart and even an antique car in the sale. It can help to be creative. Many years ago a friend had a house for sale in Glengarriff Gardens and offered 4 goldfish at $50,000 each and said he would throw in the house for free. A joke that caught everyone’s attention.If you have a strong need to sell quickly, any or all of these suggestions will make your home stand out above the competition.REMEMBER: If you want to sell, your property must be priced right.OLD MEETS NEWHow about this? A tiny old mountain village in Switzerland is to be turned into a “scattered hotel.” Here’s what this means:Guestrooms will be housed in existing homes spread across the village in the Verzasca valley and the surrounding countryside. The hotel will operate under a single management structure with amenities housed in common areas in the village. The picturesque cluster of homes was part of a robust farming community. However, the population of about 300 has dwindled to just 12 older residents and the only economic activity in the town is the local restaurant. A local foundation came up with the innovative approach to save the village, borrowing the idea from a successful model in Italy where several “widespread” or “scattered” hotels can be found.The face of real estate has changed dramatically in recent years with many people, including Bahamians, repurposing their homes to take advantage of the burgeoning short-term vacation market. The Central Bank reports that Airbnb rentals increased in the Bahamas by 41 percent in August year-over year. More short term rental properties are going on the market every year with Exuma, Abaco and Eleuthera recording significant increases in inventory. (Exuma recorded the highest inventory increase. Oh, those swimming pigs!)It just goes to show you, real estate remains a solid investment in changing times.
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(Mike Lightbourn is president of Coldwell Banker Lightbourn Realty)