Agents Finding New Success with Seller Incentives

Incentives offered by sellers at closing are nothing new to the real estate industry.  Sometimes it’s as simple as leaving that beautiful pool table behind, rather than moving it out of the basement.  Or, it’s the seller agreeing to fix the front porch, or repaint the pink bedroom that the future buyer just can’t get past as they dream of a new in-home office.

Seller-funded incentives have also gone to extremes.    It wasn’t too long ago that everything from a free car, boat, and luxury trips could be included in the mix.

Incentives are back, but they have become a bit more realistic. Perhaps they are back to their true purpose, which is as a valuable marketing tool that can draw attention to a listing while providing an added benefit to the buyer.

We all know that potential buyers are attracted to homes for multiple reasons.  But once someone has narrowed their choices down, breaking through the marketing clutter can sometimes be a challenge.  Offering a seller-funded incentive can give an agent an important additional way to talk, blog and advertise a listing.

Introducing Zillow Special Offers

Listings with a Zillow Special Offer receive 10 times more buyer contacts than listings without. (Click to enlarge).

In October, Zillow introduced Zillow Special Offers to address this need and it’s already having a positive impact on agents who are taking advantage of this new marketing tool.  More than 1,000 listings on Zillow have a seller-funded cash incentive attached, which provides added visibility on Zillow, among other benefits. The early results for those agents that are participating in the program are promising. Listings with a Zillow Special Offer are currently receiving 10 times more buyer contacts than listings without.

Tyler Rygmyr, with Revolution Real Estate in Nashville, is already a fan of the program.

“I learned about the Zillow Special Offer program late one evening, so I ran a special later that night on a listing that had been on the market for 9 months. Several scheduled showings happened immediately thereafter, and an acceptable offer was submitted within days. Pretty cool!”

For more information on seller-funded incentives and how Zillow can help draw attention to them, call 1-888-957-2706 or learn more about Zillow Special Offers.