To generate business in a weak economy, some real estate professionals are offering cashback incentives to buyers.

Vic Nafranowicz of Homeowner's Concept in Rockford, Ill., is providing $500 in closing cost assistance to buyers of homes under $100,000. For those purchasing $100,000 to $200,000 homes, he is offering $1,000 toward closing costs. The incentive rises to $2,000 for those buying homes priced over $200,000.

"It's a way to reduce the cost a little bit more—a win-win for me and the buyer. In this economy, you have to give people some kind of incentive," says Nafranowicz.

Other real estate companies are encouraging agents to go back to the basics of making up to a dozen new contacts per day or looking over their contact lists and communicating with past clients.