Seller Assistance Departure Reshapes Market again.

The death of the sellers assistance programs has reudced the number of entry level buyers by more than 25%. Early feedback shows that this loss of would be buyers has put further downward pressure on prices in the 250 and under market. I spoke to two title company managers this morning, open orders are falling fast.

What sellers must do....price aggressively and overpay on the commission.

First - With fewer buyers you must price your home aggressively to be the best buy of the current inventory. Pricing as little as 5-10K over the market will result in fewer showings and no offers.

Second - With so much inventory out there, you need to be creative and make sure that every agent in town wants to sell your home over other listings. How can you do this without dropping your price by 20K? Add 2-3% to the commission. Agents are hungry these days, many are selling fewr than one home every few months, by offering a big fat commission you become the cream of the crop, agents will do everything possible to sell your home. The choice is simple, reduce your price by 10% or pay 2-3% more in commission to create a pack mentality towards selling your home.