Molly Samuels said she has a "great front door," she just needs to get people to come inside.
Mrs. Samuels and her husband, Michael, are anxious to sell their Hixson home so they can make an offer on a house in Virginia Beach, where they plan to relocate. They want to sell before today's deadline for a federal tax credit.
The credit -- formally known as the Worker, Homeownership, and Business Assistance Act of 2009 -- offers an $8,000 tax credit for first-time homebuyers with incomes below $125,000 for singles and $225,500 for married couples.
To attract potential buyers, Mrs. Samuels came up with a twist to the traditional open house: live music. Local band the New Binkley Bros. played a concert at the Samuels' home on Sunday after an appearance at the National Cornbread Festival in South Pittsburg, Tenn.
"We brainstorm all the time as agents as to what we can do to make a property stand out," said Linda Moore, a real estate agent with Prudential who has been working with the Samuels. "This was Molly's idea to have a band. I've never done that before."
Mrs. Samuels estimated that about 50 people came by on Sunday.
"At one point, my house was packed," she said.
Of that number, she said about half seemed like serious lookers, and about half of those struck her as potential buyers.
The Samuels home is on the market for $189,000, having dropped $5,000 in price last week. On Thursday, Mrs. Samuels said they'd had two showings and several acquaintances offering to pass along information, but no firm contracts.
MARKETING TIPS
Existing home sales rose 6.8 percent in March, exceeding analyst expectations, according to the National Association of Realtors.
Experts say the best approach still is simply to offer the best product.
"My main advice to folks is make their house look perfect in and out and price it a little less than the competition," said Ginny Herman, a Realtor with Coldwell Banker in North Georgia. "Mostly, what people are looking for is 'why should I buy your house instead of one of the foreclosures?'"
Ms. Moore and other local real estate agents said sellers often will try to offer incentives to buyers, such as cleaning and yard services. The efficacy of these methods is unpredictable, she said.
"From my perspective," said Andy Hodes, a Realtor with Keller Williams, "if I knew my seller were willing to pay seven or eight thousand in cleaning or lawn services, I would rather have them reduce the price."
An online advertisement offered a $13,000 Visa gift card with purchase of a three-bedroom house in Soddy-Daisy. The poster did not respond to requests for more information.
Specific incentives may be offered only by the seller or builder to individual buyers, according to local Realtors.
"A Realtor cannot give anything based upon a (single) sale occurring," said Randy Durham, president of the Chattanooga Realtors Association.
Any Realtor-offered incentives must be available to all buyers under rules of the Real Estate Settlement Procedures Act.
While fundamental methods of selling, including newspaper advertising and open-house viewings, still are relied upon, employing online efforts also has become standard.
"Eighty percent of buyers start their search on the Internet," said Crye-Leike Realtor Gil Milton.
BY THE NUMBERS* 6.8 percent -- Amount existing home sales rose nationwide in March* 5.35 million -- Number of units sold in March 2010* 5.01 million -- Number of units sold in February 2010* 4.61 million -- Number of units sold in March 2009Source: www.realtor.org
Web methods for home sales include using social networking sites and creating digital home tours. A Realtor also may suggest working with a home stager to increase the aesthetic appeal of the property.
READY TO GO
Home stager Shannon Thompson worked with Mrs. Samuels at her Hixson home, rearranging furniture, decluttering and "creating better flow."
Ms. Thompson said she has seen homes sell 50 percent faster after staging, though the economic downturn has caused inconsistencies, since she came to Chattanooga from Atlanta in 2007.
"It's been really feast or famine," she said.
For the Samuels, not being able to sell their Chattanooga home has hurt their ability to buy a home in Virginia. They made a offer on a house in Virginia, contingent on them selling their home here, but it was rejected, she said.
"I don't know if they would have taken it if it weren't contingent on this house selling," Mrs. Samuels said.
"My stomach is in a knot."
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