Use the Tax Credit in Your Real Estate Marketing

Are your clients first time home buyers? If so, make sure they aware of the $8,000 First Time Buyer Home Tax Credit, which was put in to effect by President Obama as part of the Economic Stimulus Package. Even better than letting your current clients know, though, is using the tax credit in your real […]

Are your clients first time home buyers? If so, make sure they aware of the $8,000 First Time Buyer Home Tax Credit, which was put in to effect by President Obama as part of the Economic Stimulus Package.

Even better than letting your current clients know, though, is using the tax credit in your real estate marketing as a way to generate new real estate leads.  If you’re unfamiliar, here are the basics:

Key Points of the $8000 First Time Buyer Home Tax Credit:

  • Home must be bought before Dec. 1, 2009.
  • You have to have closed escrow between Jan 1 2009 and Dec 1, 2009.
  • You can claim the credit on your 2008 or 2009 tax return.
  • You have to keep the home as your primary residence for 3 years after you purchase it.
  • It’s not a flat $8,000, it’s actually 10% of the purchase price up to $8,000.
  • The credit begins to phase out if your adjusted gross income is above $75,000 ($150k if you’re married filing jointly)
  • “First time home buyers” are defined as anyone who hasn’t owned a principal residence in the past three years.
  • You can learn more about it by visiting the IRS Section: $8000 First Time Buyer Tax Credit

As with all things tax related, its strongly advised that you steer your clients towards a qualified accountant to see how the tax credit affects their specific financial situation. Used correctly, the tax credit makes a great starting point for those buyers on the fence because of the current market.  It’s also a great way to differentiate yourself from other agents who may be unfamiliar with the credit. </p>

Some ideas on how to use this tax credit in your marketing:

  • Host a seminar specifically about the various tax credits and programs for first time buyers
  • Create a page or post on your blog with information, then direct buyers to it by mentioning it in all print marketing.
  • Search for and answer questions about the credit on Zillow and Trulia.