Mortgage company offers cash incentives to agents in 23 states

Mortgage giant Freddie Mac is offering cash incentives to real estate professionals who list or sell a foreclosed home owned by Freddie Mac’s HomeSteps sales division in 23 states.

Buyer’s agents will receive a $1,000 incentive and listing agents a separate $500 incentive when an approved offer is received by April 15 and the transaction closes by May 30, Freddie Mac said.

According to the company, the sales promotion is focused on firing up sales in “cold weather” states. “With mortgage rates still low and home inventories tightening, the 2014 HomeSteps Winter Sales Promotion is a great opportunity for families ready to buy and real estate agents ready to sell,” said Chris Bowden, HomeSteps’s senior vice president.

Last year, HomeSteps properties sold for an average of 95 percent of the local market value, according to Freddie Mac.

The promotion applies to the following 23 states: Alabama, Connecticut, Colorado, Iowa, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, North Carolina, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, Washington and Wisconsin.

Freddie Mac has offered similar incentives in the past. Last spring, it offered an agent incentive program for foreclosed homes in 20 states.

For promotion details and conditions, visit HomeStep’s website.