Great news for real estate investors and anyone who is looking to sell property in the short term:

Senators agreed Wednesday to extend a popular tax credit for first-time home buyers and to offer a reduced credit to some repeat buyers.

The tax credit provides up to $8,000 to first-time home buyers, and Senators agreed to extend the existing tax credit for first-time home buyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years.

The tax credits would be available to home buyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes, according to a summary of the legislation being circulated among lawmakers. There’s a much longer article about this that you can read by clicking here.

This is a huge advantage for real estate investors looking to sell properties. To leverage this extension, here are some suggestions for what you can do in your marketing:

- Announce to all potential buyers this extension, and let them know how it helps them buy your property!
- Institute a special “first time home buyer credit” of your own, and give first time home buyers a special if they buy your property. Some examples could include:
1. Additional closing cost credits
2. Special Lowes or Home Depot if they buy your property (would you be willing to buy a $500 Lowes gift card if it meant selling a property this weekend?)
3. Free year of service (something like lawn care, pest control, cable, doesn’t matter, get creative!)
- Start marketing on places like Craigslist and other sites letting buyers know that you can help them with an extension of the first time home buyers tax credit.
4. Partner up with a mortgage broker and do a marketing blitz letting prospective homeowners know about this tax credit extension.
5. Partner up with CPAs or even people at H&R Block letting them tell their renters about the benefits of owning a home

The possibilities here are endless for your business. The only question is, what action are you going to take to use this good news to help you sell another property?

Post any comments or ideas here, I (and everyone else) would love to hear them.

Share and Enjoy: