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In a competitive real estate market and an era of escalating interest rates, it is important to distinguish your property from comparable others in the neighborhood. Subdivisions are full of cookie-cutter floor plans all designed by the same home builder and this can often be difficult to achieve. After addressing the obvious concerns when selling a house (staging it for sale, finishing repairs, cosmetic updates, etc.) and you are priced appropriately for your neighborhood then you may want to think of other incentives that will help attract buyers. Figure out what you can afford, taking in to account what you're losing while your home sits on the market, and come up with some attractive incentives within your budget to lure in new buyers. Here are a few ideas to help you get started.

Money talks. Sellers can offer to pay closing costs, provide an allowance for upgrades and pre-pay home warranties to help attract willing buyers. If you're feeling particularly generous, you could pay for inspections or appraisals in advance of purchase, throw in the Home Owner's Association fees, or even offer to pay 3+ months of the new mortgage. It wouldn't be unheard of to even offer to pay for moving expenses including movers, utility hook-ups and storage fees. These are ways to alleviate the financial burden (not to mention hassles) for the buyers during their move. If all else fails, cash is king. A $5000 (an arbitrary number) rebate can take care of a lot of move-in expenses.

Think luxury. Who doesn't want a gigantic plasma television set? new laptop? riding lawnmower? a sub-zero refrigerator? Furnishing the house with cool gadgets, appliance and tools can be another hot selling point. Depending on where you fall financially these types of furnished incentives could range from a new lawnmower sitting in the garage to a new car. Upgraded appliances in the kitchen add value as do other home "luxuries" like wooden window blinds, home theater systems, sprinkler systems and more. Give a gift certificate to a local furniture store to help the new buyers furnish the home in their own style. The idea of moving into a new home and getting "extravagant" bonuses is quite intoxicating when the house down the street is only offering to power-wash the driveway.

Help the buyers appreciate the local community. Include memberships to local attractions or clubs, like golf clubs, tennis clubs, amusement park season passes or sports season tickets. This is a good way for new residents to get out and appreciate their new neighborhood. Buy a years worth of oil changes at a local auto service center, pay for a local gym membership, gift certificate for a local landscaping service, or even a vacation to a nearby hot spot to sweeten the deal.

The bottom line is people are human and we act on our emotions as much as our intellect. If you can give a buyer something no one else can, whether it's extravagant, practical, or just plain fun, you are sure to make an impression and may very well offer a deal-breaker when all other selling points are found to be equal. Remember, it's important to make sure that your incentives are legitimate and legal. Ask your real estate agent to check out any state or federal laws regarding these types of buyer promotions, and then just be creative... the sky, and your pocketbook, are the only limits.

Learn more about this author, Kathy McCabe.
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