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STORM SEASON
Important Note:

June through November our agency may become prohibited from binding coverage should a “Tropical Disturbance” enter the Gulf of Mexico or Caribbean Sea.

In these cases we may be unable to bind new coverage quoted in open proposals until the storm leaves our area and our binding authority has been restored.

Please arrange your coverage protection early to avoid this type of delay. While we regret any inconvenience, the carriers impose these restrictions on all agencies.

Planning to Sell? Consider These Homebuyer Incentives

Planning to Sell Consider These Homebuyer Incentives

Homes are selling pretty quickly these days—at least when you look at the nation as a whole. According to the National Association of Realtors, properties are typically staying on the market for 59 days this spring, with about 35 percent on the market for less than a month.  But real estate is local, and national averages may not accurately reflect market conditions in your area.  Whether you live in a city where homes aren’t selling quickly or you’re planning to sell during the slow season, consider these homebuyer incentives to speed up the process.

  1. Offer buyer’s agents a larger commission

If your property has been sitting on the market for a while, buyer’s agents (real estate professionals who work on behalf of homebuyers to help them find and buy a property) may not bother to show it to their clients. Offering an additional percentage as a commission bonus may stimulate their interest.

  1. Pay their discount points

When a homebuyer applies for a mortgage, lenders generally offer an interest rate based on the current market as well as the option to lock in a lower rate by paying a portion of the interest upfront in the form of discount points. Each point is equal to 1 percent of the mortgage amount.

Most buyers will find an offer to pay their points more attractive than a discounted purchase price. Why? Because a rate reduction—even a small one—can save a homeowner tens of thousands of dollars over the life of the loan. Knocking a few thousand dollars off your home’s selling price will not.

  1. Pay their HOA dues

Whether you’re selling a condo, townhome or single-family property in a neighborhood with a Homeowners Association, offering to pay your buyer’s HOA dues (for a few months, a quarter or a year) can be an attractive incentive. Many buyers are making big dents in their savings in order to pay closing costs on their mortgage, and HOA fees may be expenses they forgot when budgeting.

  1. Pay their utilities

This incentive may be particularly attractive to young, first-time homebuyers who previously split the cost of gas, electricity, water, cable and Internet services with roommates. An offer to pre-pay their utilities—or a portion of these expenses—for several months while they adjust to their new mortgage payment could be just the incentive they need to get off the fence and make an offer on your property.

  1. Give them a credit for closing by a specific date

Once you’ve received an offer, your home is as good as sold, right? Wrong. The process can take a significant amount of time—especially if the buyers need to sell their home, ask for dozens of repairs, or are having difficulty with financing. If you want to move the closing along quickly, consider offering a credit to the buyer for closing by a specific date.