The Early Show

Home Sellers Taking Desperate Steps

Brian Dakss

August 24, 2006 / 1:26 PM EDT / CBS

How far would you go to sell your house?

Some sellers are taking desperate measures, reports Early Show consumer correspondent Susan Koeppen.

She says having a great real estate agent and even a terrific open house often aren't' enough to sell homes in what has rapidly become very much a buyers' market in many areas, with sellers greatly outnumbering buyers.

It's all resulted in "location, location, location" giving way to "incentives, incentives, incentives" for many sellers, Koeppen says. Home sellers are throwing in all kinds of perks, from free plasma TVs, to opera tickets, to luxury vacations, to get buyers to sign on the dotted line.

Susan and George Garrigan had to include a brand new, $17,000 Toyota Corolla in the deal to sell their four bedroom home in Woodbridge, Va.

Redecorating, landscaping and cutting the price didn't do the trick.

Their real estate broker, Barbara Tivnan, told Koeppen sellers have to stand out from the crowd by any means necessary. In the Garrigans' community, there are more than 100 homes for sale, but buyers are scarce.

"If you have to sell, you have to do some extraordinary measures," Tivnan remarks. "It's like having whiplash. Last year, sellers were enjoying tremendous appreciation, and then all of a sudden, it stopped."

After the Garrigans sold, others in their community followed their lead, throwing new cars into the deal, too.

At a new development outside Orlando, Fla., in Mount Dora, the builder actually gave away a brand new home, to draw traffic to the sales center. And the promotion paid off, attracting more than 6000 potential customers.But Koeppen says there are some much simpler, basic, less expensive things sellers can do to make their home more appealing to prospective buyers.

Among them:

Put down a new welcome mat at the front door. This makes your entryway more appealing and welcoming. This is a buyer's first impression stepping into your home. Avoid mats with cutesy sayings. Always make sure the front entry floor is sparkling clean and the steps are swept.

In the dining room, set the table with your best china. This makes the house feel homey and elegant, and helps buyers picture themselves sitting in the dining room eating their own meals.

In the bathroom, put out nice, fresh, new towels. That makes the bathroom seem more luxurious and inviting.

And finally, in every room, clear out all your clutter! Remove your family photos, books, magazines, and other clutter from every surface. Clean off the countertops in the kitchen and bathroom. If your teenager has wild posters on the walls that could put people off, take them down. Box your stuff up. This will help depersonalize every room, and make your home seem cleaner and larger. It gives potential buyers the chance to picture their own things in your house.