With the $8,000 First Time Home Buyer’s Tax Credit set to expire tomorrow (April 30th), Coldwell Banker Real Estate LLC is launching its own buyer incentive program. Starting May 1st, participating sellers listed with Coldwell Banker, nationally, will be offering up to 3% of the accepted offer price, up to $8,000, to buyers who contract by July 31, 2010. There is no deadline for closing. Additionally, Coldwell Banker’s program is not limited to first-time home buyers.
According to the company, “while 34 percent cite the current tax credit extension (expiring April 30) as the primary reason their customers are currently for searching for a home, 28 percent said that they feel the limitations of this credit will prohibit some buyers from taking advantage of the credit.”
“The Buyer Bonus Sales Event will allow participating Coldwell Banker home sellers to essentially extend the benefits of the credit,” said Jim Gillespie, president and chief executive officer for Coldwell Banker Real Estate LLC. “Without restrictions such as household income caps, the Coldwell Banker Buyer Bonus Sales Event allows for greater participation for all homebuyers. And our sellers have a unique opportunity to allow their home to stand out from the competition in their marketplace.”
While it’s fantastic to see Coldwell Banker take the initiative in continuing the velocity produced by the government tax credit, good real estate agents may very well negotiate better pricing values and contract terms for their clients, with or without the carrot.
Related: Coldwell Banker press release