LaShonda Solomon, Exceptional Service For Exceptional People (Atlanta Communities Real Estate Brokerage)

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Rainmaker
714,294
Thomas J. Nelson, Realtor,CRS,e-Pro
Big Block Realty 858.232.8722 - La Jolla, CA
Co-Host of Mail-Right's: Real Estate Agent Podcast

No, better to price it right. It's price.

Nov 07, 2017 08:21 PM
Ambassador
1,829,855
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    When there are lots of houses for sale, a higher co-op fee will entice agents to put that house on their showing list.

Nov 07, 2017 07:33 PM
Rainmaker
1,194,882
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

They bring more showings for sure. If sellers is on board, I would do whatever it takes to help to sell the property fast for the highest price. 

Nov 07, 2017 09:15 PM
Rainer
21,263
David Martin
Fairfax Realty - Alexandria, VA
Making Realty Dreams a Reality

Well, I suppose it depends on how you mean "effective". It could help to keep the property Top of Mind for agents when they encounter a buyer for whom the property seems to be a good match. So its possible you may get some more visibility from it.

I do seem to recall reading a few articles that say statistically properties for sale with lower than average Buyer Agent commissions tend to take longer to sell, if this is true it seems logical to assume those with higher than average commissions would sell faster. Of course other elements might be contributing, the properties with higher commissions might have more motivated sellers that are more open to negotiations, more willing to prepare the property etc. 

 

Nov 07, 2017 07:57 PM
Rainmaker
495,779
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Nooooooo! Agent shouldn't be incentivized to present the house, the buyer should want to see it. And that ain't how.

Nov 07, 2017 06:33 PM
Ambassador
3,323,400
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I rarely look at compensation until after a buyer has selected a home. So for me, no they don't help.

Nov 07, 2017 09:15 PM
Rainmaker
534,279
Richard Bazinet /MBA, CRS, ABR
AZuRE Team - Realty ONE Group - Scottsdale, AZ
Phoenix Scottsdale Real Estate

Not really... It's a useless tactic.

Nov 07, 2017 07:40 PM
Rainmaker
202,250
Chuck Mixon
The Keyes Company - Cutler Bay, FL
Cutler Bay Specialist, GRI, CDPE, BPOR

I want to say no but time and time again I seen them offer and the activity  on such listing seems to increase. Human nature to want the best, but the best is not for the Buyer  or the Seller it will go to the realtor's pocket. I  avoid offering them and also try to steer clear of them, don't want my buyer to accuse me of steering them to a bad deal for my benefit.

Nov 07, 2017 07:39 PM
Rainmaker
3,912,706
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

no, no, no.... it screams desperation....

Nov 07, 2017 06:27 PM
Rainmaker
102,864
Scott Pope
Nautical Properties - Panama City Beach, FL
You Can't Live Without Water™

I have never offered a "bonus." One has to question the intent of the bonus. I feel it is an enticement of greed to incentivize buyer agents to push a property for the sole reason of monetary reward, not for the good of the client. Of course, those are the same agents who aren't interested in showing only properties with the highest commission splits. Borders on the unethical to me.

Nov 08, 2017 03:41 AM
Rainmaker
330,186
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Not really.

Nov 07, 2017 07:29 PM
Rainmaker
308,710
Diana Dahlberg
1 MONTH REALTY - Kenosha, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

No ... honestly I would rather that the seller give the buyer a concession.  Buyers don't buy houses because their agent gets a bonus!

Nov 07, 2017 06:34 PM
Rainmaker
1,054,858
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

No. If the house is priced right and shows well, it will sell.

Nov 08, 2017 02:51 AM
Rainmaker
2,460,304
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Absolutely NOT, same Bonus reduce the list price and it will sell faster, Endre

Nov 07, 2017 11:28 PM
Ambassador
3,065,237
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Recently saw a local agent offering a 5k bonus, I don't know how effective it was

Nov 07, 2017 08:33 PM
Ambassador
3,334,977
Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Not in our market, and perhaps not at all. Price it right and have it looking great!

Nov 07, 2017 08:12 PM
Rainmaker
30,546
Denise Samouilidis
Mirsky Realty Group - Palm Beach Gardens, FL
Jupiter Abacoa Sales & Beach Front Luxury Homes

Not particularly. It's a nice perk for the realtor, but in all honesty if a buyer doesn't want the home are you really going to push them to purchase it for your benefit? It's also on the verge of being unethical, as your client should always be in front of your own needs and wants.

Nov 07, 2017 07:45 PM
Ambassador
2,193,920
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

It all depends upon the buyers' agent.

Really, it absolutely shouldn't help at all but, sadly, it does sometimes.

Nov 07, 2017 07:44 PM
Rainmaker
2,508,432
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

No.  Certainly not if they have a fidicuiary responsibility to their client.  And, last I checked, the buyer decides what house they want, not the agent.

Nov 07, 2017 07:13 PM
Rainmaker
3,175,849
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

No I do not.

Nov 07, 2017 06:49 PM
Rainmaker
3,303,903
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

NO!!!!!!!

Nov 07, 2017 06:46 PM
Rainmaker
433,725
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

A big screen TV or an iPad for the buyer will more likely help a sale than an incentive to the buyer's Realtor.

Nov 07, 2017 06:44 PM
Ambassador
1,207,294
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Not for me.

Nov 07, 2017 06:34 PM
Rainmaker
1,288,270
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

I like them, are they effective? Jury is still out on that. I use them every once in awhile. Instead I have been using something for the buyer like a years worth of assn fees.

Nov 08, 2017 05:41 AM
Rainmaker
474,236
Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

Not in particular. I've tried bonuses or higher commissions and it doesn't seem to make a difference in my area.

Nov 08, 2017 05:21 AM
Rainmaker
2,072,145
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

I don't... reduce the price instead to attract buyers.

Nov 08, 2017 03:51 AM
Rainmaker
343,665
Peter Mohylsky
BETTER HOMES AND GARDENS REAL ESTATE - Destin, FL
Your Bucket List Broker in Destin, Fl..

It does nothing for me

Nov 08, 2017 03:08 AM
Rainmaker
180,235
Ronald Gombach
The Gombach Group - Morrisville, PA

Can be, All things being equal,  However, when bonuses a offered its typically because all things are nowhere near equal — overpriced, undesirable location, poor condition, ghosts in the attic, etc., etc. — likely not going to help much in such instances. Depends, also, of course, on the amount.

Nov 08, 2017 02:02 AM
Rainmaker
2,576,276
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Candice A. Donofrio , Richard Bazinet /MBA, CRS, ABR and numerous others nailed this one!

Nov 08, 2017 02:01 AM
Rainmaker
625,431
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

No.

Nov 08, 2017 01:02 AM
Rainmaker
1,601,541
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Not Really

Nov 07, 2017 11:03 PM
Rainmaker
2,761,467
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

When representing buyers, a "bonus" is not a motivating factor for me.  

Nov 07, 2017 10:19 PM
Rainmaker
454,750
Mike & Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

Yes it works...

Don't knock it till you try it.

I ALWAYS put a bonus or larger commission when selling my personal properties.  They always sell quickly for the highest price in the neighborhood.

FACT:  properties with small co-op fees take longer to sell.

FACT:  Agents are greedy and will show a property with a higher commission even if the buyer is not interested.

Eve

Nov 08, 2017 11:10 AM
Rainmaker
30,630
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

Are they effective? I hope not. I think the home needs to sell itself regardless of what the agent compensation will be. Certainly the buyer would need to know and if it could somehow benefit the buyer and make it a better deal for them it might be OK. I just hate to think that an agent would influence the sale of one home over another simply because the compensation is higher. It seems like an eroding of the Fiduciary Duty

 

Nov 08, 2017 10:14 AM
Rainmaker
340,107
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

A Bonus to the Buyer's Agent does make the listing stand out. If it fits the criteria for my client then it would get it SHOWN. Will it get it sold? That depends on other things- like if it's priced right, how it compares to what else we've seen. The bonus is for me, not the client. I just go with what they want.  

Nov 08, 2017 07:59 AM
Rainmaker
272,986
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

No, because bonuses go away as soon as negotiations start. But a higher co-op fee definitely works with most agents.

Nov 08, 2017 07:35 AM
Rainmaker
718,419
Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

 This seemed to be most effective in a buyers market, where there was a LOT of inventory and few buyers.  It goes along with what Fred Griffin said.  In my experience, buyer incentives are more common and effective, in general.

Nov 08, 2017 06:59 AM
Rainmaker
2,242,778
Richard Weeks
Dallas, TX
REALTOR®, Broker

I think price trumps all gimmicks.

Nov 08, 2017 04:58 AM
Rainmaker
464,071
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Not at all & they just seem icky.  If the house meets the buyer's needs and is price right, it will sell.  

Nov 08, 2017 04:40 AM
Rainmaker
2,216,672
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Not a chance.  There is always an underlining reason

Nov 08, 2017 03:56 AM
Rainmaker
605,894
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

No. In some cases, it could help depending on agents involved.

Nov 08, 2017 03:55 AM
Rainmaker
778,934
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I think so. In our area selling agent sometimes have to ask their clients to pay because sellers know it does not take much to sell a home. They do not pay buyer agent. When persisted they offer $250 for 1M+ home.

Nov 07, 2017 08:27 PM
Rainmaker
2,341,079
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I do not think that works as mocu as others do.

 

Nov 11, 2017 01:31 PM
Rainmaker
3,191,749
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have never thought they worked, just because of a bonus, the buyer still may not like the house.  Reduce the price to the buyer, they may like it better!  

Nov 11, 2017 06:47 AM
Rainmaker
1,393,697
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One Group - Carlsbad, CA
Presence, Persistence & Perseverance

Not one bit. Some listing agents fail to remember the buyer-client makes the final decision on the buying decision.

Nov 10, 2017 07:27 AM
Rainmaker
450,690
Gloria Valvasori, ASA
Better Homes and Gardens Real Estate Signature Service - Streetsville, ON
Quality Service, Exceptional Results, Since 1987

I think it would be a great motivater for the agent to show that home, especially if there was another one in the same neighbourhood that was commparable.  But it wouldn't necessarily mean the home would get sold faster, expecially if did not show well..

Nov 09, 2017 04:45 AM
Rainmaker
500,623
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

I do not like selling bonus offers. I think it is a conflict of interest. Price the home right to sell it to the right buyer. Good agents dont need extra monetary incentive to find the right home for their client.

Nov 08, 2017 11:19 PM
Rainmaker
275,955
Melissa Jackson
United Country Real Estate FW - Fort Worth, TX
REALTOR® Matching Buyers & Sellers

Agents should not be pushing listings with a bonus more than others.  I'm sure it does place the home on the agents list to watch.  I see it all the time.

Nov 08, 2017 09:26 PM
Rainmaker
959,939
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Nope.  Only gets greedy, self-serving agents to show homes that their clients otherwise have little interest in.

Nov 08, 2017 03:58 PM
Rainmaker
474,556
Sean Casey
Patterson-Schwartz Real Estate - Newark, DE
Greenville, Hockessin, Newark & Bear Homes

Interesting question.  I don't think they are directly effective.  Indirectly, I think some agents will be more inclined to show it.  More showings may get the property sold faster.  

Nov 08, 2017 03:05 PM
Rainmaker
441,908
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

The times that I've seen it on the MLS, it's always been because a house hasn't sold, they've tried just about everything else, and this is their last resort. And it still didn't work until the price went down enough to make sense.

Nov 08, 2017 03:02 PM
Rainmaker
683,769
Jennifer Mackay
Keller Williams Success Realty - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Nope - if it's not priced to sell all the incentives in the world won't sell it

Nov 08, 2017 02:32 PM
Rainmaker
621,288
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

No

Nov 08, 2017 12:56 PM
Rainmaker
224,470
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Sometimes builders will offer broker bonuses at the end of a building season when they have excess inventory. This can make a difference.  For the average resale home, I don't think this makes any difference at all. A seller is better off just getting the price at a place buyers see value.

Nov 08, 2017 11:21 AM
Rainmaker
3,676,756
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Nov 08, 2017 11:15 AM
Rainmaker
1,265,011
Donna Foerster
HomeSmart Realty Group - Parker, CO
Metro Denver Real Estate Agent

I don't think they make a difference.

Nov 08, 2017 09:40 AM
Rainmaker
876,806
Corinne Guest, Managing Broker
Barrington Realty Company - Barrington, IL
The Choice of Professionals

No, No, did I say NO. I did, No. 

Nov 08, 2017 09:21 AM
Rainmaker
2,423,650
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

No, I do not.  Lower the price and a home will sell. 

Nov 08, 2017 06:57 AM
Rainmaker
2,181,872
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I would like to believe that the product sells on demand for itself

Nov 08, 2017 06:48 AM
Rainmaker
1,273,922
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

LaShonda Solomon I think broker bonuses are old school and don't work anymore. I once got a listing beause the previous agent asked the owner to give a broker bonus. He fired the agent.

Nov 08, 2017 06:45 AM
Rainmaker
4,231,628
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Price reductions are more effective.

Nov 08, 2017 06:37 AM
Rainmaker
593,131
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

One whould have to deny human nature and decades of marketing science to state they are not effective.

If the question were asked, "DO agents know how to use a bonus effectively?' the response may be a "I don't think buyer or seller agents use the bonus effectively.

Nov 08, 2017 06:00 AM
Rainmaker
3,892,699
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

No.

Nov 08, 2017 05:58 AM
Rainer
251,428
Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

Not nearly as effective as providing the incentive to the buyer. 

Nov 08, 2017 05:56 AM
Rainmaker
2,345,388
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

No, but to each their own!

Nov 08, 2017 05:46 AM