NCJAR News
Thank you to everyone who joined us for Realtor® Community Care Day on Friday, September 27, 2024! Your dedication and hard work made a remarkable impact on our community.
This year's initiative brought together NCJAR members to help homeowners with essential exterior home repairs and safety modifications. We are grateful for the volunteers who identified homeowners in need and assisted them with the application process, ensuring that those who required help could benefit from our program.
Together, we addressed important tasks like minor roof repairs, painting, and gutter cleaning, making a significant difference in the lives of many. Your compassion and commitment to enhancing the well-being of our neighbors truly exemplify the spirit of community.
As a home seller, offering concessions can be an effective strategy to attract potential buyers and close deals faster. But is it the right approach for your property? Here’s a guide for NCJAR members to help you navigate seller concessions and advise your clients with confidence.
What Are Seller Concessions?
Seller concessions are when a seller agrees to pay certain costs associated with purchasing a home on behalf of the buyer. These concessions can make your property more appealing by reducing upfront expenses for buyers, particularly those with limited cash reserves. In many cases, offering concessions can lead to faster or better offers, as they allow buyers to stretch their budget further.
Examples of Seller Concessions
U.S. existing-home sales increased for the first time in 5 months, as lower mortgage rates and rising supply helped boost market activity. According to the National Association of REALTORS® (NAR), sales of previously owned homes rose 1.3% month-over-month to a seasonally adjusted annual rate of 3.95 million units, exceeding economists’ expectations and ending the downward trend of recent months.
- Single Family Closed Sales were up 4.4 percent to 2,019.
- Townhouse-Condo Closed Sales were up 4.6 percent to 479.
- Adult Communities Closed Sales were down 20.6 percent to 50.
NJ Realtors Circle of Excellence Sales Award