Interesting thing happened this week!
I asked a Seller to consider a Buyer Agent Bonus on his Listing to help move the property, since it is a rehab and all the "Big Box" store credit cards are now coming due on his purchases (6 months free!!).
We were averaging 1 showing a week with the price at a fair value. Dropped it several times with a few more "lookers" but NO Offers.
We did a $5,000 Buyer Agent Bonus and all of a sudden Buyers are coming out of the wood work like ants!!! Were these agents hiding them or did they just see dollar signs and pushing this listing??? My Seller doesn't care - he just wants to move his property.
What has caused this "sudden" activity??? I kinda have to believe the agents stopped complaining about everything and took out Buyers to Purchase a House?!?!?!!? Sometimes, it is all in our mindset as to how we react and behave with Buyers (and Sellers)!!
If money talks, and it certainly seemed to do so here, perhaps that is the push we need to start this train moving again.... cause it sure is stalled in many areas of the country!!!
If your price seems fair on a listing (by who's standard?), perhaps consider offering an attractive $$$ Bonus to get agents back to selling houses!!!
We still don't have an offer, but I am convinced we will shortly - too many agents and too much activity not to!!
Bernie Martin & Juli Morella at www.snjrealestate.com
The opposite of this effect takes place when listing agents offer very low cooperating fees to buyer agents. Those properties may be shown less often. It's human nature. Sellers should be aware of what split their agents are offering to buyer agents.