Get creative with incentives

This week I saw an extremely creative incentive offered by a home seller in Libertyville.  The home seller, an interior decorator, offered the buyer of her home an interior design package worth up to $40,500 if her home sold before a certain date.  She offered a similar package for up to $25,250 if it closed a month later.  Now this is someone who didn’t need to drop her price and could offer a skill that would help a new buyer with new furniture and design ideas. 

I mentioned in my blog last week how buyers just want to score an amazing deal.  And seeing how many people don’t just want to give their house away, it’s important to be creative in coming up with other ideas to get the house sold, similar to what this interior designer did.

Typical incentives include free assessments paid for a period of time (for those in association communities), parking paid for.  I’ve seen cars and vacations offered.

I was so impressed with this idea to offer an incentive of a skill you possess … You could even offer to pay for the buyer’s attorney expenses in purchasing your home or cover their home inspection for them.  Another great idea is to have a home inspection done at your cost and made available to the buyers looking at your home.  That way there’ll be no surprises when you’re under contract and the buyer goes to do their own inspection (NO MATTER WHAT – DO YOUR OWN INSPECTION!  I’ve heard horror stories of people that skipped it and there’s no recourse against the seller unless they purposely falsified information).

Some other creative ideas could be an appliance package of up to a certain amount of money, a landscaping gift card, a gift card to a popular hardware store or Target, for example.  And while this might work for some, others would just prefer to knock the price down by that amount, which is fine, but you never know.

Another simple gesture for your new buyer is just to leave a bottle of champagne in the fridge when you move out welcoming them into your home.  I’ve had buyers call me so impressed that sellers have done that for them.  It really just puts a nice spin on a stressful situation of moving.

Do you have any other creative incentives you’ve seen or that have impressed you?  I’d love to hear them.  And if you’re selling your home and would like some ideas of what to offer, please contact me via my Web site.

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