During the home buying and selling process, it may not be enough for a buyer to decide they like or love a house. Sometimes, there are things you need to do in order to close the deal. Incentives are the tactics that many agents use in order to fully close the deal. These five incentives are some of the less thought of ones but they can be just as effective.
- Including furniture and window coverings in the deal. If you renovated the home prior to putting it on the market, you may have purchased specific furniture to go with the overall look of the home. If this is the case, then you may lock in a buyer by offering to include furniture and window coverings in the deal.
- Buying down the buyers interest rate. To purchase a home, many people get a mortgage. To help close the deal, you can offer to lower the interest rate by paying a fee at closing. Buyers can do this to reduce the interest by a point but so can the seller if they want to encourage the purchase.
- Offering the buyer’s broker a higher percentage rate. This tactic is a great choice when you want the buyer’s broker to work harder to convince the buyer to close the deal. This is an incentive for the broker, not the buyer.
- Offer credit for a “Close By” date. If you fear that the potential buyer may prolong the process or if they are looking at another property, you can offer a credit on the cost of the home if they close by a certain date. This may be enough to encourage them to purchase the home.
- Offer a credit for non-recurring closing costs. Sometimes, buyers like to request that some repairs be done to the home prior to purchasing. If you do not want to deal with the hassle of taking care of these repairs, like most sellers, then you can offer a credit for the repair costs instead.