5 Incentive Ideas to Attract Buyers

5 Incentive Ideas to Attract Buyers to Your Home

Kevin Johnson Seller Advice Leave a Comment

Personally, I think the witch had the right idea.

She did everything she could to make her home as appealing as possible. Gingerbread foundation, gum drop fixtures and candy cane columns all conspired to attract buyers and make her home irresistible to anyone who passed by. Granted, she was trying to attract Hansel and Gretel instead of homebuyers, but she definitely offered great incentives to visit.

There’s no need to douse your rooftop with cream cheese icing, or fill your gutters with ooey gooey melted caramel to attract buyers.

The following five ideas could help keep you sticky-finger free.

1. Home warranty policies.

This covers repairs or damage to the home that may have occurred after the sale of the home. This policy eases the buyer’s mind that there is a plan in case a major repair is discovered, especially when purchasing an older home.

2. Assistance with closing costs.

This could mean  you attract buyers and sell your home faster at a potentially higher price because it increases the number of potential buyers to choose from and shows a good faith effort to get the home sold. If a buyer knows that you are willing to step up with closing costs, he or she may be more inclined to work out the deal with you. However, be sure that this is a necessary move for the success of the sale of the home. There may be instances where you don’t have to volunteer to pay for closing costs, so you should heed your real estate agent’s advice when deciding.

3. Credit toward remodeling or repairs.

If something needs repaired, you can agree to take the cost of repairs off the purchase price of the home.

4. Other incentives such as furniture, TV, etc.

Sometimes you can offer to sell the home fully furnished, or with other tangible or intangible items. For example, if custom furniture was made specifically for the size of your home and isn’t going to fit in your new home, you can offer to leave it and bundle it in with the sale of your home.

5. Assistance with association fees.

Offer a credit for 6 months, a year or longer to cover association fees. This can ease the buyer’s shock at having paid a significant amount of money in property taxes, the cost of the home and perhaps partial closing costs. Talk with your real estate agent about best way to do this and make sure it doesn’t conflict with buyer’s lender’s guidelines.

As with anything, make sure that the incentives you offer are beneficial for both parties. Don’t offer more than you can afford to give away, yet don’t be stingy either. Keep your focus on your goal which is to attract buyers and sell your home.

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