Absolutely spot on advice from Andrea. I've never understood where the practice of offering a bonus to the buyer's agent started, because it never made sense to me (and frankly, feels icky) but these ideas make a whole lot more sense!
Should I or should I not offer a commission bonus to the buyer's agent when selling my Silver Spring, MD home? That is a question & discussion that pops up regularly. My answer is:
Sellers, don't waste your money on a commission bonus. Do this [pick one] instead!
- Hire a professional organizer before you list to help you purge and organize your belongings as well as your home. Not only will it make your move easier, it will also show your home better.
- Hire a professional stager. Staging turns a house into a home and helps buyers envision how to use a space and get the warm and fuzzies.
- Replace that old and worn-out carpet.
- Replace your (outdated) appliances.
- Spruce up your bathrooms, new paint & fixtures alone can make a big difference.
- Improve your curb appeal, you simply can't have too much of it.
- Create an outdoor living area in your back-yard.
- Catch up on regular maintenance items.
- Have a pre-listing home inspection.
- Hire the best REALTOR®. Hiring the agent who is quick to offer you a discount may seem like a financial savvy decision. At first. But consider that seasoned agents with a track record know their worth. The combination of experience, knowledge, being market savvy, negotiation skills, professional network, marketing tools, listening skills, education above & beyond the minimum requirement .. may just yield you a [much] bigger net in the end, and a less stressful experience.
Quite honestly, a commission bonus is well.. a nice bonus and you'll make the buyer agent's day. But, the buyer's agent is NOT the one buying the house. The buyer's agent is NOT the one making the decision on which house to buy. The buyer's agent is NOT going to steer the buyer to your house because of a commission bonus.
Why not? Because this is a relationship business that is build on trust. We work for Thank Yous and referrals. Listening to what our buyer clients want, need and can comfortably afford are the top priorities. Whether or not a bonus is offered to us, doesn't even make the list. We want to see our buyers glow and hear all about how happy they still are in their home a year or five later. And we would love for them to return to us when they are ready to sell and buy again.
It is all about the buyer. So do what is best for them. And do what is best for you. Show your home in its best possible light. Create a space that the buyer will love. Hire the best and price it right. But don't waste your money on a commission bonus.
ANDREA BEDARD, M.A. ~ THOMPSON COMPANY, REALTORS ~
Thompson Company, REALTORS
15711 New Hampshire Ave Silver Spring, MD 20905
o: (301) 384-9177 c: (240)593-2860
Andrea is a REALTOR® based in Silver Spring, MD. She has enjoyed assisting buyers and sellers since 2004 and focuses on residential Real Estate in Montgomery and Howard County, MD. Andrea is a proud mom and hobby decorator with a vintage soul. She always answers the phone with a smile, enjoys running and treasure hunting and is addicted to coffee.
All photographs are my own and I'd like to keep it that way. All information is deemed reliable but not guaranteed.