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Sunday, October 22, 2017

Selling Your Viera Home: Does Offering Incentives Really Work?

A recent listing in the local MLS system included agent remarks (not public) stating that a "buyer's agent must bring buyer within 15 days and must pay full price to receive bonus."

The current Brevard County, Florida real estate market is a seller's market.  The median days to contract in August 2017 for single family homes was only 25 days (to close, 67 days).   

That simply means half the single family homes are under contract in just over three weeks.   If a property is is listed reasonably close to market then a buyer will arrive in short time.

So why offer a real estate agent an incentive (bonus)?

In the situation mentioned above the bonus offered is $1,000.  While that is not pocket change to me I don't see the incentive as a reason to automatically recommend a full price offer.

As for the above, if a full price offer was indicated by the comps, then what is the need for an incentive/bonus?

So do incentives work when selling your home?


 if they are offered to the buyer AND the incentive is built into the price.

Some buyers as well as real estate agents may interpret incentives as a sign of desperation.

As for closing cost assistance my experience has been that if a buyer does indeed need closing costs assistance it is often part of the offer any way so why give it way?  I have seen many times where sellers will include an incentive in the listing of "$XXXX flooring allowance (or whatever).

Why offer up discounts in the listing when any offer will take into consideration the issues when making an offer?

As for incentives I believe the best incentive is to price for condition, location, competition and seller motivation.  When a seller does that, an offer will come at a reasonable price in a reasonable time period.

For information on buying a home in Rockledge, Florida (or Viera), please call or text me at 321-693-3850.

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