how about price drop?

Not being familair w/CA at all, where is $700k in comparison to the the market area? Are there 5, 10, 25, 50, or more active listings in the $650-710k range in the immediate area?

If there are a lot of actives, there needs to be a draw. Lowering the price is a nice idea, but, at that price range I would think the buyer that qualifies, and is looking at, homes at $660 range, will be still be interested in seeing something at $700.

I like a buyer incentive more-so than upping the agent commission, or dropping the price. The buyer sees the ad, tells the agent, agent shows. Agent may not have seen it initially cuz there are so many properties in buyer's price range.

believe me i would rather not pay out a bonus from my end of the commission, however i have found that the bonus definatley gets teh attention and has other agents looking at my listings or at least knowing about the listings. i make agent bonus sheets and have them delivered to the surrounding brokerages for my listings, i know for a fact that they get more attention than an mls printout shoved in somebody's mailbox, each page of my agent bonus sheet has up to 5 listings and teh price and amount of co-op and the amount of bonus plus the mls number, number of bedrooms bathrooms and brief description.

the point is to get attention to the property, and it is my job to do so, using whatever means necesary(within the law!)

dropping the price of a 500k home by 2,000 is a joke! but to advertise to agents that there is a 2.5% co-op and a 2000 agent bonus at least gets them to look at the bonus sheet. alot of the brokers around here that i know of dont split the agent bonus according to the agent split it goes 100% to the a gent so for a 50/50 agent that is like making 4,000 in commission. everybody talks about giving more co-op to entice agents and how 1% or 2% is a low commission, so i use a way to put more money into agents pockets than a traditional co-op. beleive me agents talk about it when we distribute the sheets. right or wrong it works and it is within the rules and the sellers like it.



commission stated is for educational purposes only

If you are getting showings try getting your seller to offer a rate buy down for a year or two. It can reduce the payments buy a substantial amount for the buyer.

Just FYI, your post has just been the topic of a heated discussion on Craig's List.

Here's an update: We went with the straight price drop and the home went under contract about 8 days later.