Question Details

Rosalind, Other/Just Looking in Saint Clair Shores, MI

Do you think it would be beneficial to give a 1% of the selling price of my home as a bonus to the real?

Asked by Rosalind, Saint Clair Shores, MI Sat Jun 7, 2008

estate agent who sells my sells my home? Would it create more interest to show my home? Is it legal?

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Roselind
I have only a few remarks
1. The buyer that purchases a homes first sees that home with a Realtor 90% of the time
2. Homes that sell in the first 30 days sell closest to asking price...at 120 days in my MLS they sell for 93.6% of asking....after some price reductions.
3. Depending on your situation (the number of homes with which you are competing). all things being equal, offering 1% more commission is less expensive than a 5% reduction in the sales price (I normally advise my sellers that if we don't have 10-12 offers within the two weeks, we will make a 5% adjustment in the price).
1 vote Thank Flag Link Sat Jun 7, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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Although it would be attractive to the buyer's agent to have an extra bonus from the seller, it would make more sense for you to offer that 1% as a credit towards the buyer's closing costs. Or reduce your price by that amount. In today's market, in addition to location, the biggest draw is price, price, price.

Realtors should show properties that meet their buyers' criteria, and not choose which properties to show based on the commission or the bonus offered. If realtors feel the commission is too low, they can negotiate with the seller ---- separately --- for a higher commission.

Again...if you're willing to give 1% of purchase price to anyone as a bonus, give it to your buyer instead. I'm sure the buyer's agent will be just as delighted to close the deal.

Good luck!
1 vote Thank Flag Link Sat Jun 7, 2008
If you are with a Realtor, you should document and sign this. Yes it would create more interest... more importantly, make sure your price is right too.
0 votes Thank Flag Link Sun Jun 8, 2008
I don't know about what state you live in! but I think you could do it if you wanted to!
0 votes Thank Flag Link Sun Jun 8, 2008
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