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

 

4 Comments on $$ Bonus Brought Buyers Out!!!!

MAY
24
2008
276,305 Points 3 Featured Posts Localism Sponsor Outside Blog

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.

6:01pm • #1

Hi Brian,

I agree.... We had it already at the 3% Buyer side. I had an Listing Agent who displayed 2% on his listing, but paid himself 3%.... gotta love it!!!!

Bernie Martin at www.SNJRealEstate.com

6:08pm • #2
214,814 Points Outside Blog

We have seen our compensation rise over the last few weeks.  Gas is expensive, money talks!

It's a Good Life!

Fran

6:12pm • #3
186,915 Points Localism Sponsor Outside Blog Hit Router

I never look at the compensation when deciding what properties to show. The typical structure applies across the board. It is a pleasant surprise to get more than what I normally expect!

It does not motivate any more (or less) when it is different.

6:22pm • #4

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Juli Morella

Mullica Hill, NJ

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Weichert Realtors

Address: 54 S. Main Street, Mullica Hill, NJ, 08062

Office Phone: (856) 223-2600 x 251

Cell Phone: (856) 904-9280

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