Agents Create Programs to Replace Government Tax Credits
The Federal Home Buyer Tax Credit expired on April 30 and some agents are finding this time to be optimal for launching their own incentives to prospective buyers who may have missed out by offering their own "bonus" programs.
Coldwell Banker's "Buyer Bonus Sales Event" kicked off May 1, the day after the tax credit ended. With no deadline to close on the property, participating sellers will offer a credit of 3%, up to $8,000, off an accepted offer to buyers who sign a contract before July 31.
Jack Conway & Co. announced its "Buyer Bonus" program around the same time Coldwell Banker launched their program. Jack Conway & Co.'s participating sellers offer $3,000 to $15,000 in financial incentives for the designated properties, similar to a program the company had in 2007.
Century 21 is offering a different approach, giving an incentive for sellers to list with their agents through a special sweepstakes program that started April 1 and runs through June. The sweepstakes offers a chance for sellers to win $8,000 and there will be 21 winners nationally.
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