Will a Selling Bonus Help Sell the Home Faster?
Sellers pay commissions to agents to sell their homes. Some sellers ask, Will a selling bonus help sell the home faster?
I had one of my listings sell that had a $2500 selling bonus awarded to the selling company for any accepted contract. It was on a new home that had been on the market a little too long. The builder and I discussed that it needed more attention and offering some extra financial incentive might help drive agents to want to show and sell it. He agreed to give it a try. So an email blast was sent to all agents in our area MLS. The bonus was clearly stated on the listing in MLS under compensation and with an remark in the Realtors Remarks. I spread the word personally with some of my network agents.
Showings seemed to increase which was good. Was it just the market spiking or was it financial motivation? I really don’t know. An offer came in and terms were agreed. When finalizing up the contract I told the agent congratulations on the bonus. She had not realized it nor had she noticed it on the listing. She was just trying to match the listings she showed to her clients needs. She responded that it was a nice surprise.
Will the Selling Bonus Help Sell the Home Faster?
Maybe, maybe not. Not all agents select the homes they show their buyers by the compensation being paid. In fact many don’t notice it until a little later in the process. Others check the compensation and formulate their showing list based on what they will earn. That is just a fact of the business.
So is the bonus doing what it should?
My take is if it gives one more reason to contact a bulk of agents to let them know about the presence of a good listing then it is worth it. If one agent, and that one agent alone is motivated by the extra earnings and produces an offer, it is worth it.
If it creates any type of buzz and makes agents spread the word, it is worth it.
I think it creates new opportunities for contact and conversation and that alone may help the home sell faster. So in some situations if done properly with the proper marketing, it can produce favorable results.
If you have a home to sell in Clarksville TN, you need an agent that knows how to spread the word and get it sold. Contact Debbie Reynolds at 931-320-6730.