RISMEDIA, April 27, 2010—Coldwell Banker Real Estate LLC announced the launch of its Buyer Bonus Sales Event, a national promotion intended to build on the momentum of the soon-to-expire federal home buyer tax credit.
In a recent survey of Coldwell Banker Real Estate professionals, nearly half indicated that they had worked with home buyers who would have missed out on the home buyer tax credit in November of last year had it not been extended. In addition, while 34% cite the current tax credit extension (expiring April 30) as the primary reason their customers are currently searching for a home, 28% said that they feel the limitations of this credit will prohibit some buyers from taking advantage of the credit.
That is why on May 1, 2010, immediately following the expiration of this government initiative, home sellers participating in the Coldwell Banker Buyer Bonus Sales Event will offer a credit of 3% (up to $8,000), when part of an accepted offer, of their home’s purchase price to buyers who sign a contract before July 31, 2010. There is no deadline for a closing date.
“The federal government did its part to encourage millions of Americans to achieve their dream of home ownership with the help of the home buyer tax credit,” said Jim Gillespie, president and chief executive officer for Coldwell Banker Real Estate LLC. “As the credit expires, Coldwell Banker Real Estate is encouraging buyers who haven’t found a home yet to continue looking, while bringing a new audience of home buyers who were unable to qualify for the tax credit into the market. We are confident that this private sector solution will represent a significant step toward continued recovery of the housing market.”
“The Buyer Bonus Sales Event will allow participating Coldwell Banker home sellers to essentially extend the benefits of the credit,” said Gillespie. “Without restrictions such as household income caps, the Coldwell Banker Buyer Bonus Sales Event allows for greater participation for all home buyers. And our sellers have a unique opportunity to allow their home to stand out from the competition in their marketplace.”
Participating homes will typically be identified by Buyer Bonus Sales Event yard sign riders and tagged as a Buyer Bonus home online at www.coldwellbanker.com. While searching for a home online, home buyers can simply check the box labeled “Buyer Bonus Sales Event” to find participating properties nearby.
All home sellers who take part in the Buyer Bonus Sales Event will receive broad marketing support from Coldwell Banker Real Estate LLC, including:
-National television commercials beginning May 1, 2010; extensive online advertising
-Promotion on http://www.coldwellbanker.com
-Updates on the event to be shared on Coldwell Banker Facebook and Twitter pages and the Coldwell Banker blog, Blue Matter;
-A video posting to the Coldwell Banker On Location channel highlighting the practical value of $8,000.
For more information, visit www.coldwellbanker.com.