What are terms? Think of them as sales incentives. We’ve all seen the advertisements - no payments for extended periods, no interest, low financing rates, rebates, upgrades, … all sorts of offer to entice us to purchase a product.

The right terms can make or break a sale. For instance, a buyer has narrowed their search down to three homes. Now they must decide on which home to make an offer. If all three properties are comparable in price and condition the terms of the sale will be the deciding factor.

Terms can vary across a broad spectrum. A quick closing may be important to one buyer, delaying the closing may be important to the next buyer. Buyers short on cash may find closing cost assistance desirable, or appliance included in the sale maybe a deciding factor. When there is a large amount of inventory on the market, offering a higher commission to agents increases the showings, thereby increasing the odds of finding the right buyer.

How do we know which terms will work for each buyer? It’s extremely important to understand market trends and conditions. This allows us to meet the needs, desires and expectations of buyers. Also important is communicating with Buyer’s and their agents. Recognizing what is important to Buyer’s can create win – win opportunities for both Buyer’s and Seller’s. As a Seller the key is to be flexible, understand the needs of the Buyer. By doing so you will achieve the results you desire.


All Articles:
1. Condition
2. Price
3. Availability
4. Realtor
5. Terms