Coldwell Banker Extends Benefits of home buyer tax credit with ‘Buyer Bonus’ sales event. Thousands of sellers to offer credit Up to $8,000 from May 1 until July 31, 2010
PARSIPPANY, N.J. (April 26, 2010) — Coldwell Banker Real Estate LLC today announced the launch of its Buyer Bonus Sales Event, a national promotion intended to build on the momentum of the soon-to-expire federal homebuyer 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 percent cite the current tax credit extension (expiring April 30) as the primary reason their customers are currently for searching for a home, 28 percent 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 percent (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.
Jim Gillespie
“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 homebuyers. 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:
About Coldwell Banker
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United states and today has a network of nearly 97,000 agents working in more than 3,300 offices in 49 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to augment its web site www.coldwellbanker.com for smart phones, the first to create an iPhone application featuring international listings and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program.
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It would seem likely that there are some restrictions with regard to Buyers Agents getting paid a commission on these properties.
If this is the case then there could be some fallout as a result and the very agents that CB is trying to attract back won’t return because of a short term gimmick. It seems like a noble effort however it would have been nice to see the fine print in this article.
Hi Bill
Not sure that it will answer all your questions but here is an interview with the CB CEO:
http://tinyurl.com/2elptz3
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