Providing an incentive works, and the simple answer would be yes. Â However, you still need to look at your specific situation. Â What are the comparable home sales in your area suggesting? Â What isÂ your current competition doing? Â The purpose of the bonus is to motivate the buyerâ€™s agent to show your home, and the increased showing activity will help produce a reasonable offer.
Unfortunately, weÂ have 7.7 months of housing inventory (San Antonio, TX area) and properly pricing your home plays a very significant role. Â The bonus offered mayÂ motivate the agent, but if your home isnâ€™t priced properly you wonâ€™t have a motivated buyer. Â Buyerâ€™s have access to more information than ever before, and spotting an overpriced home online isnâ€™t very hard to do.
Many new home builders use this approach, and it worksâ€¦. but they have control over pricing, incentives, etcâ€¦ throughout the entire subdivision. Â The buyer is already interested in the location, homes, and general price range. Â The buyerâ€™s agent bonus just helps to bring in traffic, not necessarily close the deal.
You, Mr. and Mrs. Seller, only have control over your home. Â Proper marketing and pricing should be priority number one. Â If you need that extra push to get traffic through the door, then offer a bonus, it wouldnâ€™t hurt. Â If you have a one of a kind home, and/or limited competition in your area then perhaps price your home a little higher, as well. The buyerâ€™s agent will be motivated, and the buyer will not have anything else to compare your property toâ€¦ increasing your odds of getting it sold.
Randy Pereira, Realtor
ULTIMA Real Estate
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