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#74001 - 07/22/04 02:31 PM Is a bonus to buyer's agent a real incentive or not?
Anonymous
Unregistered


Wanting to get opinions on this subject.

We aren't getting any showings. House is priced well below comps. It's just the location- small town.

We decided to offer a bonus to the agent that brings in a buyer.

What is the normal amount?
Does it work?

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#74002 - 07/22/04 02:48 PM Re: Is a bonus to buyer's agent a real incentive or not?
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
Usually a waste of time and money.

When the right buyer comes along they will buy.

Is the house in tip top, 'move in' condition??

If not your money would be better spent better preparing it for that right buyer.

Buyers are typically willing to pay a premium price for super condition home that's ready for them to move in and do as close to nothing as possible in order to start living

------------------
Jim Lee, CRS, ABR, GRI, e-PRO
Realty Executives Associates
Knoxville, Tennessee
http://www.KnoxvilleMLS.com
Jim@KnoxvilleMLS.com
1999 REALTOR of the year, Knoxville Association of REALTORS

I am not an attorney, I am not your attorney, and I am not giving you any legal advice. This response is only given for informational purposes and should not be construed or substituted for legal advice.
_________________________
Jim Lee, REALTORŪ, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

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#74003 - 07/22/04 03:25 PM Re: Is a bonus to buyer's agent a real incentive or not?
Anonymous
Unregistered


 Quote:
Originally posted by jimlee:
Usually a waste of time and money.

When the right buyer comes along they will buy.

We don't have any buyer's coming along. No showings. Zip. Notta.

Is the house in tip top, 'move in' condition??

3 realtor's we interviewed called it "mint." and NOTHING needed to be done.

If not your money would be better spent better preparing it for that right buyer.

How do I "prepare" it for the right buyer? How would they know I was "preparing" for them? Where the heck are the buyers?

Buyers are typically willing to pay a premium price for super condition home that's ready for them to move in and do as close to nothing as possible in order to start living


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#74004 - 07/23/04 11:18 AM Re: Is a bonus to buyer's agent a real incentive or not?
Anonymous
Unregistered


There are several things you can do to sell your house. Make sure all light bulbs are working, and are the "cool white" for brighter perception. Maybe consider painting some updated colors. Make your entrance to the house very appealing. Also, light some candles like lavendar, to make the consumer feel relaxed.

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#74005 - 07/25/04 06:13 AM Re: Is a bonus to buyer's agent a real incentive or not?
Delores Offline
Member

Registered: 05/19/04
Posts: 235
Loc: TN
It sounds like your property already looks good enough. Maybe you need to review the marketing efforts. How much advertising is going on? And who are you targeting? What's next door, or across the street from you? You say the location is not great because it's a small town. Some people like small towns. What's going on in the area? You may have to advertise in a "big-city" publication to draw attention to your "mint" small town charmer.

[This message has been edited by Delores (edited 07-25-2004).]

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#74006 - 07/25/04 08:13 PM Re: Is a bonus to buyer's agent a real incentive or not?
Anonymous
Unregistered


 Quote:
Originally posted by Delores:
It sounds like your property already looks good enough. Maybe you need to review the marketing efforts. How much advertising is going on? And who are you targeting? What's next door, or across the street from you? You say the location is not great because it's a small town. Some people like small towns. What's going on in the area? You may have to advertise in a "big-city" publication to draw attention to your "mint" small town charmer.

[This message has been edited by Delores (edited 07-25-2004).]


Across the street is a double wide mobile home. It just sold for 5000 less than our stick built home. They've had tons of showings. We've had 0---ZERO. They have MLS and a big realty company selling. We have a tiny 2 man team. No MLS. Just picture in local paper.

We've made a huge mistake. But why on earth can't these lookers see our sign? Are they freakin blind? It's directly across the street from theirs.

Something is wrong. It is customary to sign a 1 year listing with agent. We did. We are screwed.

By the way, the three realtors that we interviewed laughed at their asking price across the street.

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#74007 - 07/26/04 02:18 PM Re: Is a bonus to buyer's agent a real incentive or not?
Delores Offline
Member

Registered: 05/19/04
Posts: 235
Loc: TN
No they are not blind. They came to see a mobile home.

Where are you where it is customary to have a one year listing? I have never heard of such -- at least not being "mandatory." That should be negotiable. What's the circulation of the newspaper that has the ad? Your house needs to be in the MLS. That way, when someone is searching for a house "just like yours," they'll come see it. Why won't your "agents" put it in there? Can you cancel your listing agreement with them?

[This message has been edited by Delores (edited 07-26-2004).]

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