Sell your home in 118 days or I'll buy it. For a set price ahead of time and at a full 7% commission. What do you all think of this concept?

Chase

I think ERA already thought of this a long time ago.

A number of agents do this in Atlanta.
The only party that benefits is the listing agent.
Offering to buy a home at a discount is not a winning situation for the seller.

Try this one on.

"* Buy this listing from me and I'll buy your home."

(* some restrictions apply) (don't they always) :p

I believe Craig Proctor may have originated this but it works most anywhere.

Restricted to a certain top price, whatever you feel comfortable with.

I know a Re/Max broker who claims he moved from $240,000 in commissions to $670,000 almost solely using this technique and only actually ended up buying 2 houses which he almost immediately sold both.

He takes a 6% discount on a house he's looking to buy plus another 2% for cushion, plus whatever repairs and/or maintenance might be needed to put it in tip-top shape.

Benefits to seller are they get full, or almost full price.

Their house sells quickly and can move. My friend Billy often sells them another house or refers them to someone in another city for a referral fee.

Benefits to buyer are they don't have to worry about their house selling and maybe losing the house they want.

Benefits to Billy are: whole commission from the sale of his listing, almosts always a more expensive house than he's buying.

Buying a saleable listing at a discount, if he sells it he gets the whole commission as profit, otherwise he only has to pay a selling commission to a co-op agent so he still earns half or just gives the new buyer a 3% discount to move the house.

Getting a third deal from the sellers of the house that buys his listing.

Offering to buy a home at a discount is not a benefit to a seller? A "discount" does not mean lowball. And yes, I disliked this concept originally but now see it's true benefits. Even if you do buy a listing at 100% - 7% commissions maybe minus another percent or two, it's still a win for the seller. Also, if you're making another 3% in commissions from the home they buy, you're nearly buying the first home at a 10-12% discount. I know lots of agents use it, just wondering what others thought of it. Instead of adding stipulations such as buying it at a huge discount, I would add stipulations such as they must buy with you, or must buy one of your own listings

"* Buy this listing from me and I'll buy your home."

I thought that requirement was pretty plain: "Buy this listing from me".

The pricing of the home is established by an independant appraisal and my evaluation. If they do not agree then we will get the third appraisal. The purchase price of the home is net of commissions and fix up adjustments. The home may be marketted during this interim period. Yes you are contractually bound to buy a home of equal or greater value, umm and I have seen a $ 495 or $595 contract admin fee. either way from the commissions involved there is comfort for the vendor to achieve the same net proceeds