The Easy Way To Incentivize Cash Buyers
Last month, 32% of all transactions closed involved a cash buyer. If you stack up a cash buyer against a finance buyer, as a seller, which one would you prefer? Probably a cash buyer.
Financing has hurdles: the buyer has to qualify, the home has to qualify, there's appraisal and underwriting approval. So, if I had the choice, I would probably want to take a cash buyer.
But how do we incentivize this?
Most agents aren't having this conversation with sellers. Would you like to incentivize cash buyers to make offers on your house? Why? Because with a cash buyer, you're not dealing with qualification issues, low appraisals, or underwriting roadblocks. We can remove contingencies faster with a cash offer, which means we can speed up closing generally faster than with a finance buyer.
To incentivize those offers, you might consider giving a cash discount. What would you give? Maybe a 1% or 2% discount off the price. Let's be honest, with a financed offer, the buyer often asks for closing...
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