Some sellers have begun offering incentives to get their house sold. There are a few different approaches to this method that I would like to discuss. Although price, lcoation and condition will always be the most important factors in selling your home, more and more sellers are finding other ways to sweeten the deal.
Offering buyer Incentives: Helping with the buyer’s closing costs is a traditional incentive that many sellers use to get their homes sold. Now that Down Payment Assistance is no longer allowed, sellers can’t use that to lure buyers. In some listings I’m seeing that the 50-inch Plasma TV comes with the house, or the seller will provide 1 year of free lawncare. Incentives like these are getting more people through the door in some cases. If my seller wants to try this mothed, I ask them to consider their own business. Maybe you can get a great deal on a TV because you work at HH Gregg, or maybe you own your own landscape company.
Buyer’s Agent Bonus: I’ve seen some listings where they buyer’s agent commission is higher than normal, or the agent is offered a gift card or “bonus” to get the house sold by a certain time. I don’t think this is a good move. As a buyer’s agent, I will only show my clients homes that I really think they would be interested in. Offering ME a perk won’t make my buyers like your home any more than they would otherwise. If you have the money to offer to pay a higher commission or a bunos to the buyer’s agent, then just lower the price by that much or use it to help the Buyer.