Announcing the 2010 Buyer Bonus program, a national sales event designed to extend the benefits of the tax credit program after the April 30th deadline.
The Home Buyer Tax Credit was created to stimulate the U.S. housing market and address the economic challenges facing our nation. But the Tax Credit expires on April 30, 2010 and home sales are expected to slow down without a similar incentive.
So the Coldwell Banker brand has designed a way to keep home buyers in the market after April 30th with the introduction of The Buyer Bonus program while extending the benefits of the government program to a much wider audience of potential homebuyers.
How the program will work:
The event will begin on May 1st and will end on July 31st. The launch is timed to coincide with the April 30th expiration of the government’s Homebuyer Tax Credit.
Participating home sellers agree to refund 3% of their final purchase price as a credit of up to $8,000 to the buyer at close. It’s open to all home buyers and there are no eligibility or qualification restrictions. There will be national marketing support including tags on TV advertising and banners on coldwellbanker.com that link to a landing page where consumers can search participating properties.
Why is Coldwell Banker doing this?
Because it’s going to take something extra to sell a home in the aftermath of the government’s Homebuyer Tax Credit The national government has done its part in helping to reinvigorate the housing market through the extension of the tax credit. Some people may be anxious about missing the April deadline. The Coldwell Banker Buyer Bonus Event will allow participating Coldwell Banker home sellers to “essentially” extend the credit for participating homebuyers. And the Coldwell Banker Buyer Bonus Event has fewer restrictions. With the increased inventory around the country, Coldwell Banker listings will stand out from the competition.
How will the program benefit the seller?
Coldwell Banker plans to generate widespread awareness and replenish a home buyer pipeline depleted by the expiration of the government’s Tax Credit program.
Participation in the Buyer Bonus Event could improve the chances that a seller’s home will sell more quickly during a particularly challenging time for the marketplace. It also gives the seller the opportunity to draw additional attention to their property by taking advantage of the national promotion of the event.