I just read a another brilliant post from the famous Lenn Harley called ...
Strikes up a great conversation, but I have to have the last word, of course. That is my nature, good or bad, that is just me. Lenn, has a bad influence on me lately - bringing out the latter.
I am a listing agent, always have been. I don't "do" buyers, I know you ask, "Who do you think you are?" - just me - I always had the the conviction of "He who lists - lasts and lasts and lasts - and doesn't burn out!"
All the buyers agents I know have burned themselves out - endless phone calls, endless showings, endless getting in and out of cars, handing cards to sellers, making sure all the doors are locked and lights are off when exiting the listing...yes, I have done this before -
Having said that, I "appreciate" all buyers agents - for they do a service that should be "well" rewarded.
That is why when I go on a listing appointment and convey to the seller the "hard" work of all buyers agents to bring well qualified buyers who are ready, willing and able to purchase their property- they should be rewarded with a "bonus" commission.
I explain the days of "discounted" - HA! - discount brokers are over - yes, they are discounted and discarded - never to be thought of again in this market of foreclosures, short sales and endless inventory of "phantom properties as well as actual properties on the market.
I call them phantom because they don't exist but they exist in the mind of the buyers - it is called the what if's of the buyer's mindset.
What if the banks release all the foreclosures at once - won't that "kill" the market? What if the declining market doesn't stop declining? What are the best deals in my target area? Is this in your professional opinion a "good" deal?
Questions that a buyer's agent must answer to the buyer to get the desired result of the seller - an executed contract! Buyer's willingness to sign the contract is eliminating the "risk" factor - in most cases.
On my listing contract is definitively states the commission of 6%, 7%, 8%, 9% or even 10% - and then it also states what percentage to give to the selling broker - now we see the motivation of the seller don't we?
Most seller's want to sell - need to sell or even "have" to sell their property for whatever reason - so it is an option to give a "BONUS" to the agents out their in the trenches.
I have worked with banks in some small capacity over the years - and I have always conveyed the "bonus" theory to the banks as well - some have caught on to this is our market in Fort Lauderdale offering a bonus to agents if the property closes before a certain date - how original...
I don't believe in discounts - even at the butcher shop - if they offer you a discount on meats - it is most probable that it is about to expire and you are buying the "left overs" - I always prefer "fresh" meat, don't you?
Sellers do not want their properties to be considered "left overs" and now are willing to offer that coveted "bonus" to sell the property and attract that buyer who is motivated to close fast -
Food for thought - not only for realtors but for seller's and buyer's as well -