Why Buyers Are More Likely To Get Concessions Right Now

by Melanie Gundersheim

If you’ve been thinking about buying a home but feel hesitant because of interest rates or affordability concerns, here’s some encouraging news: today’s market gives buyers more leverage than they’ve had in years. One of the biggest advantages? You’re more likely to get concessions from sellers right now — and that can save you thousands.

What Are Concessions?

In real estate, a seller concession is when the seller agrees to pay for certain closing costs or provide other financial incentives to help the buyer. These can include:

Paying a portion of closing costs
Offering credits toward repairs or renovations
Covering the cost of a home warranty
Buying down the buyer’s mortgage rate (also called a rate buydown)

These types of perks were rare at the height of the pandemic housing boom, when homes were flying off the market with multiple offers and buyers had little room to negotiate. But times have changed.

Why Sellers Are More Open to Concessions Now

Today’s market is balancing out. High mortgage rates have cooled buyer demand, and that means more listings are sitting longer and sellers are motivated to close the deal. Instead of slashing their asking price, many are choosing to offer incentives to attract serious buyers.

This is especially true if:
The property has been on the market for more than 30 days
The seller needs to move quickly due to a job or life change
There are fewer showings or offers than expected

How Concessions Can Benefit You

Getting concessions can ease the upfront financial burden of buying a home. For example:

If a seller pays $10,000 toward your closing costs, that’s $10,000 you don’t need to bring to the table.
If a seller offers to buy down your interest rate, your monthly payment could be significantly lower — which helps with affordability in today’s rate environment.
If repairs are needed, a seller credit gives you the flexibility to fix them on your own timeline.

💡 Pro Tip: Work With a Savvy Agent

Not all concessions are created equal — and negotiating them requires strategy. An experienced real estate agent can help you identify homes with motivated sellers, structure a strong offer, and make the most of your purchasing power in today’s market.

💡 Bottom Line:

If you’ve been waiting for a better time to buy, this might be it. With more sellers willing to negotiate, you have the opportunity to save money, reduce upfront costs, and feel more confident in your investment.