Seller Concessions - What's you Favorite Flavor?

By
Real Estate Agent with Cactus Mountain Properties, LLC

I am always trying to keep up on the latest real estate marketing strategies.  My Managing Broker and I are working on a listing proposal that includes a Seller Concession being made with a full price offer up front as part as of the public remarks on the MLS profile sheet.  I have seen some of these promoted on the MLS in the Phoenix metro area as incentives to attract buyers.  They come in a variety of flavors.  Maybe the seller will pay the first year of HOA fees,  possibly the first few months mortgage payments or 3% towards closing costs. Sellers are willing to consent to these concessions with the hope of holding onto a higher than average list price and getting it!

In a market where bargain hunters abound, do you think these kinds of incentives are realistically figured into the bottom line by the buyer?  Can they see beyond the list price in bold print?  Tell me of your experiences with this marketing concept. 

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Barb Merrill Works 4 U!

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Tags:
phoenix
real estate
marketing
seller
buyer
hoa
mortgage

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Rainer
13,280
Scott Webster
GTA Real Estate
Sutton Group-Associates Realty Inc. Brokerage
In my experience the buyers are more concerned with the superficial cost of purchasing real estate and dont often take other things into consideration unfortunately
November 02, 2007 04:54 PM
Ambassador
1,770,781
Cindy Jones
Pentagon, Fort Belvoir & Quantico Real Estate News
CJ Realty Group, Inc.
I wouldn't tie an incentive to a full price offer.  Saying a seller will provide xxxx with an acceptable offer in my experience is better.  You can then adjust during negotations.
November 02, 2007 05:48 PM
Rainmaker
199,263
Shannon Lefevre
Shannon Lefevre, PA Your Naples Smart Girl
John R. Wood Properties
The best results I've had were offering an extremely high commission to the sales agent/brokerage.  But that's only if we can justify the list price.  It is outstanding what agents will do for more money and if it's not at a huge detriment to the buyer or the seller, they don't seem to mind either. :)  Sure cuts the competition right out of the picture and if the negotiations get heavy...sometimes you can even negotiate the bigger split if it gets too crazy.
November 15, 2007 04:19 PM
Rainer
125,451
Timothy Schwartz
Century 21 Mack Morris Iris Lurie
Barbara, great emblem The Statue of Liberty.  I love it. If you get a chance check out Rain Bay http://activerain.com/blogsview/259071/Recycle-your-Trash-to  Thanks!
November 18, 2007 12:10 AM
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Rainmaker
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Barb Merrill

GRI, Associate Broker
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Additional Information

Keeping well-educated on current market trends and issues is the best service I can give my clients. Whether a 1st time home buyer, a life change relocation, a 2nd home purchase or a seller which deserves the very best in negotiating skills enhanced by the information gained through blogging. The thriving economic enviroment of Arizona along with affordable housing is a welcoming home for everyone. This is what motivates me to provide excellence in the residential real estate field.