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The 30-Day Tax Credit Countdown

Once again, and likely for the last time, the sands of first-time buyer hourglass are quickly dwindling. What this means is the $8,000 tax credit extension—that golden carrot for many buyers—will soon come to an end. But a “good-bye” to the tax credit doesn’t mean you can’t generate more “good buys” for your buyers. In fact, with the historically low interest rates, great selection of homes, and amazing affordability, there’s never been a better time to help qualified first-time buyers get into their own homes.

So how can you be most successful in these next 30 days? You’ll be in a mad dash to the finish line, and to stay ahead of the pack and get your unfair share of available business, we recommend you focus on a few key tactics.

  1. Lead generate for motivated buyers. There’s nothing more powerful than a few hours of focused lead generation. Tony DiCello recommends you get on the phone for 4-5 hours per day and ask everyone for business—those you know, those they know, and those they think they know. Talk to your buyers about the historic opportunity of the market and urge action around the $8,000 tax credit. Ask for their business. Ask for their friends’ business. Ask at the gym. Just ask.
  2. Help your buyers secure financing. Get your buyers preapproved quickly. This means lining up your lending network and referring your buyers to them. Ensuring your buyers have their financial houses in order will ensure you better chances of getting their business.
  3. Identify the best buys available. You’ll need to have a trusty list of 4 or 5 best buys in targeted areas ready to go. Look at the lowest priced homes in the most popular starter neighborhoods. Consider great homes in up-and-coming areas. Look for REO bargains. Compile your list daily and keep it current. Then be ready to share it with your buyers during your consultations.

Above all, remember that to qualify for the tax credit, your buyers must be under contract by April 30. The time for focused action is now. Don’t let anyone in your sphere miss out on this historic financial opportunity.

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5 comments on “The 30-Day Tax Credit Countdown
  1. Don Kolenda says:

    keep the good news coming. buyers will buy, why not with Keller Williams, why not with me. Most people don’t know a great realtor, that is why they want a to work with a Bold agent who asks for their business

  2. Great info and definitely focused on the right perspective. It’s amazing how quickly greed can take over again. Let’s not forget that the 30 yr fixed rate average over the past 30 years is around 9.32% and just last year, we were in the mid 6% range…and THAT was a good rate! Rates are never the reason to buy a home…the best reason is because it’s better to walk through YOUR OWN FRONT DOOR than someone else’s! Thanks for the article!

  3. We’re ready for the hopefully BIG surge of buyers before the credit expires!

    KWMT – Bozeman
    http://www.kwmontana.com

  4. Jay Papasan says:

    A couple of great ideas for the final 15 days of the tax credit came out of our MAPS Masterminds in Austin yesterday.

    1) Put FSBO’s on a 15-day listing agreement–It will get you in the door for a high urgency sale.
    2) Turn a planned price reduction into a compelling offer to buyers–“We’ll double the tax credit on a winner offer submitted by April 30!”

    Thanks to Dianna and Tony for leading a compelling session!

    And don’t forget, if you work near a military instillation, the tax credit will not expire for another year!

    Jay

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