In a market where competition is fierce, why not take some advice from seasoned veteran and raise the commission. You may be saying to yourself that of course agents want to raise the commission and to some degree that is true but probably for different reasons.
As a listing agent I know that in the first 30 days your property is more likely to get showings and offers than at any other time. I also know that in challenging times money can motivate people (or other agents). What I suggest is offering an incentive.
When you list your property consider a standard rate on the listing side (you don't want to de-motivate the listing agent) and offer a increased rate to the selling agent. For example if you listed a typical property for 6% (this is an example and all commission rates are negotiable) the listing side (Broker and agent) would get 3% and the selling side (agent and broker) would split 3%.
I might suggest you offer 3% to the listing side and 5% to the selling side. If for example your home sold for $200,000 (Gross $184,000) to you and it sold quickly you would be farther ahead then if you were to let it let it sit an do a typical 5% price reduction. An extra 30 days can cost you more in the long run.
Try not to think of it as the brokers making more but try to consider what you will net. Personally I would pay a 10% commission to someone if they could sell my home quickly. As they say time is money. If you have any questions about this method, please feel free to contact me anytime at 231-218-5199.
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