We've added a incentive BONUS for the buyers agent. Is that a good idea?

Jessica
Home Seller
Waldorf, MD

Answers (4)
Keith Sorem
Agent
Glendale, CA

Jessica
It depends. I would say that the items that will attract a Realtor's attention are:
1/ Below market price
2. Above average condition with photos to prove it
3. Accessibility ( easy to show)
4. Market rate commission (which tells a lot of tales).
5. Bonus

Sun Apr 20 2008, 20:56
Alan May
Agent
Evanston, IL

I'm not a big fan of Realtor bonuses. As long as you're paying a reasonable co-brokerage fee, that's plenty of incentive to have a buyer's agent bring a client to your doorstep.

Anything over the average, can't really hurt you, but it's doubtful that it'll get you any additional traffic, and isn't that the true goal??

Buyer's agents search the MLS looking for properties that match their clients needs. Yes, if you're offering a $2,000 bonus, that might catch my attention, but it's not going to cause me to show the home, if it doesn't suite my clients needs. And if it DOES suit my client, then we're going to show it anyway.

I've never had a client decide to purchase a home, because they know I'll get paid more. They either want it, or they don't. If we DO buy your home, then you'll be able to point to the bonus and say "see, it worked!"... but in reality, If you'd reduced your purchase price by the same $2,000, you might have attracted an extra 3 viewers, and might have found yourself in multiple offers, and sold for more.

The bonus ended up being wasted money, when it could have been spent properly... by offering it to the buyer!! Now BUYER's bonuses, DO work!

Sun Apr 20 2008, 18:55
Jim Downing
Agent
Washington, DC

There are a number of things you have to do to get your home sold. If your home is similar to other homes in your area for sale. Priced at the low-end of those sale homes for sale. In great condition - at least as good as the other homes in your area for sale - AND being properly marketed by your agent - THEN - I would say YES - it very well may help drive traffic into your home and help get it sold.

Also, make sure you are offering as good as or better than average commission for your area.

Also; I would add a clause that if the Listing Agent brings a buyer - he does not get the bonus. I wont take a bonus from my sellers. It is my job to make selling their home a priority - why should I get a bonus?

The Bonus is to get Buyers Agents to bring clients in your home. MANY Realtors offer higher than average commissions and Bonuses to sell their own homes. Why not you?

Sun Apr 20 2008, 18:21
A.J. Zaki CRS,...
Broker
Boca Raton, FL
FIRST ANSWER

Great Idea,just make sure your listing agent realtor display this in the (MLS) listing in addition to any other flyers or advertising done by your realtor, in this market you need as much exposure and this incentive definitely will be a bonus.

Sun Apr 20 2008, 18:18

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