(Photo courtesy of jencu)

If you’ve been keeping up with the news, you probably know that the real estate market has hit a rough spot lately. With less people opting to rent instead of buying, sellers have developed some strategies to catch the buyer’s eye.

The first, and more predictable, “trick” is staging the house. According to The Real Estate Journal, a staged home, carefully decorated and embellished, can attract a buyer like a moth to a flame. Usually, a beautifully set-up home will mask flaws that would otherwise be noticed. Staging tricks range from the expected (i.e. a fresh coat of paint, de-cluttering, etc.) to the downright wacky, like spray-painting the lawn green. Some even resort to “feng-shui staging,” which creates a better energy flow in the home by arranging furniture and other household items in specific positions. An article on RISMedia tells the story of a real estate agent who, in order to sell a house that had been sitting there for months, finally resorted to feng shui. According to this agent, the energy flow provided by this new arrangement enabled visitors to feel comfortable right away, and create a good first impression.

But in the quest to attract potential buyers, selling agents are also courting their fellow agents to widen their client pool. The Boston Globe tells the story of a broker who persuaded his client to pay a cash bonus (apart from commission) to the broker who had produced the buyer.

The article also says that some buyers have been rewarded with plasma-screen televisions and other goodies when they purchased a unit in a condo. Another tactic involves setting up what the Globe calls “extreme open houses.” These may include music, refreshments, and even lectures.
Read the full Seller’s Tactics: Buyer Beware story