How Seller Concessions Play a Role in Northern Colorado Springs Real Estate

Seller Concessions: A Strategy To Get Your House Sold

For the past few years, it’s been mostly a seller’s market. But dynamics are shifting as the number of homes for sale grows. And that means that the market is balancing out a bit. As a result, some sellers are finding they need to be more flexible to close a deal. One strategy that can help? Offering concessions.

As the National Association of Realtors (NAR) explains:

“As home inventory begins to grow and buyers regain some advantage in the market, sellers may consider offering more in negotiations to make the deal more attractive and get to the closing table.”

What Are Seller Concessions? 

Concessions are homebuying costs that a seller agrees to cover as a way to get their house sold. And based on data from the National Association of Realtors (NAR), nearly 1 out of every 4 sellers (24%) offered a concession in 2024. Here are a few of the most common types of concessions:

And don’t worry. This doesn’t mean you have to come up with more cash to make it happen. These are things that get subtracted from your profits at closing – not more funds you have to bring to the table.  And not all concessions are about money.

There are other extras you could throw in. Like, if your buyer is coming from an apartment and has never had a yard before, they may ask if you’d be willing to leave your lawn mower behind. That’s another lever you could pull to keep them happy.

How Concessions Help Sellers 

Offering concessions can be a smart strategy for sellers to get a deal done. As Dennis Shirshikov, Professor of Finance and Economics, City University of New York/Queens College told The Mortgage Reports:

For example, let’s say you accepted an offer from a buyer, but after their inspection, you found out there are some repairs they want you to tackle before you hand over the keys.

Rather than starting at square one and searching for a new buyer, you could offer a concession. One option is you can take on the repairs and cover the costs yourself. But, if you really don’t want the hassle of dealing with contractors, you could reduce your price by however much repairs would cost. Alternatively, you could offer to pay a portion of your buyer’s closing expenses with the idea they’d use the money they saved at closing toward doing the repairs themselves.

Either way, a concession can be a great way to meet in the middle. However, it’s important to have an agent on your side to help with these negotiations.
A good real estate agent can help you decide when and how to offer concessions, so you don’t give away too much while still ensuring your house gets sold. It’s all about finding the right balance.

What This Means for Our Local Market:

As the market in Northern Colorado Springs adjusts, sellers are navigating new strategies to stay competitive. While seller concessions—such as covering closing costs or offering repair credits—can be a useful tool in some markets, our local data shows that price reductions are more common than direct concessions.

In the 80921, 80908, and 80132 zip codes, we’ve seen a 33% increase in active listings year-over-year, with luxury homes feeling the greatest impact. These properties are selling at 96.7% of their original price, compared to 98.2% for lower price points, indicating that high-end sellers are negotiating more. However, instead of offering concessions, most sellers are opting for strategic price adjustments when needed.

For buyers, closing cost assistance and rate buy-downs are likely the most valuable concessions, especially since many homes in this area are newer and require fewer repairs. Luxury buyers, in particular, often expect necessary repairs to be addressed upfront rather than receiving credits or allowances.

The Best Strategy for Sellers in Northern Colorado Springs

Rather than relying on concessions, sellers should focus on:

✅ Pricing their home correctly from the start, factoring in any necessary repairs

✅ Considering a pre-listing home inspection to identify and address potential issues early

✅ Offering small incentives like a home warranty, which can boost buyer confidence without significantly impacting the bottom line

Ultimately, sellers should only offer concessions when necessary—such as when a repair request is more affordable than a potential price reduction. By working with an experienced local agent, sellers can stay ahead of negotiations, minimize costly concessions, and maximize their final sale price.

Thinking about selling your home? Wolff Real Estate Group is here to help you navigate the evolving market with expert guidance tailored to Northern Colorado Springs. Contact us today to get started!