Ann, Both Buyer and Seller in 33062

Broker rates what percent?

Asked by Ann, 33062 Wed Aug 13, 2008

Want to sell 3/3 ocreanfront condo in Pompano. There are many apartments on the market in our building. When listing with an agent, should we offer I higher percentage fee to get more people in to see it?

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14
Linsey Plane…, Agent, Rancho Santa Margarita, CA
Wed Aug 13, 2008
I just discussed this in great detail on my blog yesterday. You can see it via the link below. In your case, because you have many apartments on the market in your building, I do think a higher commission can make a difference. Price is your first priorty - but in your case - commission will be a factor.
1 vote
Debt Free Da…, , 85260
Wed Aug 13, 2008
I think I would just price it right. That always seems to be the best.
Web Reference:  http://GetPrequalified.com
1 vote
Pierre Calza…, Other Pro,
Wed Aug 13, 2008
Youknow since you only asked about price and location, we only focused on that, but let us not forget some other key factors:

- Location
- general desirability
- Competing inventory
- agent/broker reach (combination of marketing + company marketing + buye rbase, etc)

these all play a vital role - that affect your final selling price.
1 vote
gabriel palo…, Agent, Pompano Beach, FL
Thu Jan 6, 2011
The answer may sound simple in practice but more complicated in reality.
The objective is to make the price competitive to get the buyer's attention.
It takes a higher commission to get the attention of the realtor with the buyer.
These are the realities. How ever if the listing agent that is worth their salt and is fortunate to procure the buyer without another agent leaves the door open for you to negotiate the commission.
0 votes
Amy Givoni, Agent, Boca Raton, FL
Wed Jan 5, 2011
The price is more important than a bonus on the commission. I would be happy to give you an online market evaluation. Just send me your email address and property address, and I will send you a Home Evaluation. Please call with any questions.

Thank you,

Amy Givoni, Broker
Givoni Realty Corp.
561-361-8555
amygivoni@realtor.com
http://www.amygivoni.com
0 votes
John Palmisa…, , Weston, FL
Sat Aug 16, 2008
Ann,
also to add to my comments, If you set a price and within lets say two weeks, and you have no showings. Be prepared to reduce your price. Make sure you receive feedback from agents who are showing your property, so you can make adjustments. A broker's open house would also be something I would speak to my agent about. I will give you an example. We took a listing in Pembroke Falls. We priced the home correctly and we had a contract on the property in 3 weeks. This occurred at the end of June of this year, but the seller was ready to move ahead of the market in terms of price.

John Palmisano
Keller Williams Properties
Weston, FL 33326
0 votes
Sylvia Barry,…, Agent, Marin, CA
Fri Aug 15, 2008
Hi Ann:

You need to get the buyers into your home first and have them look at the home in the most positive light.

All things equal, other than price the house very competitively, you want to hire an agent who is great at marking your house for you - an agent who has a good eye for decorating, how to best present your home, Internet savvy, great network, knows where to market your home to get the most exposure,, work for a reputable company, etc.

Find a great agent with reasonable commission, instead of great commission but a mediocre agent.

Sylvia
0 votes
Tman, , 30642
Fri Aug 15, 2008
Ann,

Minor upgrades to the kitchen or bathrooms help sell units ..

--- painting using neutral and light colors helps ...

--- offering a 2 year home warranty helps ..

--- paying the next 12 months of the HOA helps ..

--- paying the buyers move helps ..

--- lowering the price helps .... getting the picture yet.?

Raising commissions doesn't help, never has .. you're trying to get a buyer, you want eye appeal, not Jimmy the Greek ... the first time a savvy buyer gets sidetracked and finds out your unit is a bonus unit, they usually drop the agent and off the market they go...

-- it's called bait and switch.


-
0 votes
John Palmisa…, , Weston, FL
Fri Aug 15, 2008
That can help, but the main concerns you should have are price and condition of the home. Without them you can offer all the incentives you want, but it will not sell. You want to be ahead of this market , in terms of price. The property should show like a model and then you will beat out your competition. Also you will need great marketing and the home should always be available for showings, in great condition. make sure you empty out the home and leave a few furnishings. Paint where needed make sure everything works well, so on and so forth. Sorry to be so blunt, but that is the nature of the market today. I hope this helps.

John Palmisano
Keller Williams
Weston, FL
0 votes
Mott Marvin…, Agent, Sunny Isles Beach, FL
Wed Aug 13, 2008
Your list price should be extremely competitive with SIMILAR units in the building; same or similar floor hieight, condition and exposure. Of course, by offering a bonus or higher commission- your property should get a bit more exposure.

I, for one- search by price and location- never do I look for the bonus or higher commission.

Like said previosly- pass the saving and incentive to the ultimate buyer.
0 votes
James Joseph, , 06281
Wed Aug 13, 2008
Hi Ann,
A higher commission will in fact get more agents to come your way. Wether you need to or not is a personal dscision.
All the best,
James Joseph
0 votes
Michael Cepa…, Agent, Tampa, FL
Wed Aug 13, 2008
Its unanimous, Price is Key, everything else in addition too, just makes it all that much more enticing. Good Luck
0 votes
Michael Sand…, Agent, Stuart, FL
Wed Aug 13, 2008
Pierre is right on the money. Price is the key in today's market!
0 votes
Pierre Calza…, Other Pro,
Wed Aug 13, 2008
Typically, a higher percentage will make it more attractive to show, but nothing is more attractive than being priced right. A higher percentage will make the area agents more willing to show your home, but if you price it right too - you can shorten your sales cycle. Price matters more than the service fee, but it does play a role.
0 votes
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