Home Selling: Should You Offer Buyer or Agent Incentives?

Home selling can present a tricky problem for sellers during a buyer’s market. You want your home to stand out enough to bring about a quick sale--but so does everyone else. Should you find yourself in this situation, you may consider offering incentives for the home buyer or the buyer’s agent.

Buyer’s Incentives

When you offer incentives to a home buyer, you give the individual additional reasons to want your home. While incentives such as a one-year home warranty or a new carpet allowance are unlikely to attract buyers who wouldn’t otherwise be interested in your home, they can prompt an indecisive buyer to choose your home over other alternatives.

Buyer’s incentives can not only help sway buyers in your direction, but they can also help you get a higher price for your home if you stipulate that the incentives are contingent on a full-price offer.

Real Estate Agent Incentives

Offering incentives to the real estate agent who brings in a home’s buyer is a common practice for banks trying to unload foreclosure homes. Private sellers, however, can also take advantage of this practice. Real estate agents are naturally more inclined to show homes to buyers when a sales bonus is a possibility. This results in more viewings and a higher chance of selling your home quickly.

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