Using incentives to sell or rent out your property

Owners who have recently placed their Ohio property on the market may find that merely listing it for sale isn't enough anymore.

Witness an emerging trend in Columbus, where sellers are having to get creative in their attempts to attract buyers and motivate their real estate agents.

As reported in the Columbus Dispatch this weekend, sellers are now offering bonus incentives to buyers and/or real estate agents. A Worthington couple profiled in the article is offering a pair of November 18 OSU-Michigan game tickets to the real estate agent who brings them a buyer. Other Columbus-area sellers have offered a Volkswagen covertible and vacation packages to entice buyers.

These enticements may be no big surprise to landlords who've long adopted incentive-based marketing to fill their vacant units. The Easy Rent Editor frequently browses "for rent" classifieds and has noted that especially in metro areas, it's not uncommon to find "first month free" or "utilities included" offers to attract tenants.

It's something to think about in this current buyer's market -- if you're hoping to attract responsible tenants who are increasingly likely to be swayed into forgoing rent altogether and deciding to buy a home, what incentives are you offering to keep them on board?