What are seller concessions and how do they work?

Seller concessions are funds a seller agrees to credit a buyer at closing, usually applied toward the buyer's closing costs or prepaid items rather than reducing the purchase price directly. They typically get negotiated as part of the offer, either requested upfront by a buyer or offered by a seller to make a listing more competitive. Joel Boss negotiates concessions alongside price and terms so a seller can see the real net effect before agreeing to any request.