Close the Deal: 4 Effective Selling Incentives

By Kailey Hansen, Corporate Communications - New Home Star

You are a salesperson. You've kept in contact with your prospective buyer and invited them to community events; they fit your new home and your community flawlessly. They love everything about the location...but you can't seem to close that deal. Sound familiar?

It's no secret that many potential buyers are hesitant when it comes to purchasing a home. As one of the biggest investments they'll make in their lifetime, it can be a frustrating experience, both for the buyer and the salesperson, when the process is bogged down with excuses and hesitation. A selling incentive is not only an efficient way to logistically and emotionally appeal to your customer, but can give that deal the little push that is needed to comfort your buyers' conscience. If you're thinking of incorporating an incentive to help close a deal, consider one of the following practices:

1. Offer an appliance
Does your buyer have big dreams of hosting parties in their new home? Do they have a passion for cooking? A great way to heighten the desire for quick action is adding on a free appliance to the purchase. If your buyer fits the criteria above, consider throwing in a refrigerator or other kitchen amenity. This not only saves the buyer money--a logistic appeal--but can create an emotional appeal by allowing them to visualize their new life in this new home!

2. Throw in a community-driven perk 

Whether it's a year's membership to a local facility (i.e. park district organization or fitness center) or equipment that works well for a specific community or climate (i.e. kayaks or fishing gear for homes near a lake), a community-driven perk will go above and beyond a buyer simply purchasing a home; it will help them to visualize the purchase of a greater community and lifestyle.
 

3. Utilize seasons or holidays
Create urgency by focusing incentives around certain seasonal events. For example, a holiday incentive can create a time sensitive scenario for those buying in the winter. They may feel that they should take action on purchasing the home before the good deal ends. This creates a "right place, right time" situation, which can increase traffic and heighten sales numbers.
 

4. Make incentives personal
Almost any of the four ideas mentioned above can be personalized to your specific buyer. If a buyer has a passion for golf, for example, consider offering a membership to a nearby country club. Families with children may benefit from a year's worth of school supplies or a water park pass. Remember, you're not only selling this buyer a house, but a place where they're going to make memories for years to come.

Kailey Hansen holds an English degree and is currently working at New Home Star's corporate office, managing internal and external communications.