6 Ideas for Buyer Incentives in the Current Market from NJ Real Estate Agents

Great ideas from NJ real estate agents on how to close the deal

 

The current NJ real estate slowdown has created some of the most unusual buyer incentives ever seen in the industry, ranging from fully paid weekend getaways to brand new luxury cars. When it comes to incentives for buyers, though, the simple fact is that money talks. The current state of our nation's economy has forced home prices and mortgage interest rates down to the lowest in years, generating much interest in the buyer’s market, according to top realtors.

Following are 6 incentives for buyers that are proven to work in a slow market:

Pay for Closing Costs

According to NJ real estate agents, picking up the tab for closing costs is especially advantageous for the first-time home buyer market as they are additional costs to the amount they have financed for the home. This thought is beneficial in the way that it eliminates 30-years worth of interest on those few thousand dollars.

Offer Relocation Assistance

Moving costs are yet another expense where most new home buyers will appreciate assistance. Relocation assistance can provide buyers with needed information such as quotes for movers and supplies.

Offer Down Payment Assistance

Another idea is to contribute to the buyer’s down payment amount by taking what you would have spent on an incentive and offering it as down payment assistance. When you consider that a higher down payment can result in a lower interest rate, a contribution to the down payment is a powerful incentive, according to NJ real estate agents.

Pay For a Few Months of Homeowners Insurance

Most insurance companies will often offer a discount for premiums paid in advance, providing the purchaser with a better deal and money saved. This essentially means extra cash in those first few months when first-time buyers will be settling in and need it most.

Offer to Pay For a Moving Company

Sometimes overlooked, the cost of movers and related moving expenses can easily add up into the thousands of dollars range. By proposing to incur any moving costs yourself, you are offering a great incentive for purchasers in this market, according to NJ real estate agents.

Pay for Appliance Warranties For a Year

Top NJ real estate agents recommend sellers offer to pay for short-term (1 year) warranties for appliances as it will bring much-needed peace of mind to home purchasers already experiencing the headache of paying insurance costs as well as maintenance costs.

 

The real estate market is changing rapidly and expanding into new avenues almost daily. Sometimes it can be very difficult to find the answers you need on a specific topic or issue. In times like these, you need a real estate professional who will provide valuable information and trustworthy advice. For more information on NJ real estate, call us today or click here to be connected with one of our top real estate specialists.