What You Need To Know About Concessions

What You Need to Know About Concessions in Today’s Housing Market

In today’s real estate market, things have shifted. With more homes now available, buyers have more choices—and that means sellers are having to be more flexible to make a deal happen.

Why Concessions Are on the Rise

Concessions are incentives or benefits a seller offers to help a buyer close the deal. Right now, nearly half of all sellers are offering some form of concession to attract buyers.

These concessions can take many forms, such as:

• Covering some or all of the buyer’s closing costs

• Paying for needed repairs

• Reducing the sale price

Why This Matters for Sellers

Offering the right concession can make your home stand out in a competitive market. It can also help smooth negotiations and speed up the sale. However, what works best can depend on local market conditions, your home’s condition, and what buyers in your area are looking for.

Why This Matters for Buyers

For buyers, concessions can mean significant savings. They can help reduce your upfront costs, free up cash for repairs or upgrades, or make the home more affordable overall.

How to Decide on the Right Concession

The key is to know what’s working in your local market. A knowledgeable real estate agent can guide you through the options and help you craft an offer—or a listing strategy—that works to your advantage.

Bottom Line:
Concessions are becoming a more common part of today’s real estate deals. Whether you’re a buyer or a seller, understanding how they work and when to use them can give you an edge.

To connect with me directly, call 917-254-2103. For your FREE Home Evaluation, your Homeowner Resource Guide, or your Home Buying/Down Payment Assistance Guide, use this link: https://bit.ly/45URvuV or text HomeswithJustin to 85377.