Million dollar properties

By
Real Estate Agent with Rivers Trail Realty

How does one market a property that is $8.5 million? My broker and I got to talking about it and it should be like any other property. Is it fair to spend more time and money on a million dollar property compared to a property at $100,000? NO! Is it fair to push commissions on other Realtors and say, Hey sell this house look look you get 5%! NO! Commission is the last thing I look at when assisting buyers. Who are we to push a home on someone when it is probably the most important purchase in their lives? Stop thinking about money and think about people.

Comments (3)

Adam Brett
The Adam and Eric Group - Fullerton, CA
The Adam and Eric Group, Fullerton's Finest

There is a lot more you need to do when marketing these big properties.  It is a different network and you need to spend the money to showcase the property properly.

Jun 19, 2008 10:21 AM
Paul McDuell
Realty Benefit - Rancho Santa Margarita, CA

Have you seen Dream Home magazine? Take a look, they are online.

I agree with Adam.

I work for one of the top Agents in Century 21 World Wide. She recently listed a 6 million dollar property for a client that she had sold the dirt lot to a few years prior.

She refused to list it by herself, even though she has sold many home in the 2 to 3 million dollar range. She brought in a Realtor who specializes in high end properties, and I mean HIGH end.

If you are getting paid a percentage of the commission, I would think that some of the extra income should go to some VERY creative financing.

Offering a large commission to the buyer's agent isn't going to get the home sold, BUT it will get it shown. The more showings, the better the ods of selling it. And imagine the free press!

Best of luck!

 

Jun 19, 2008 10:29 AM
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

You can't possibly market a multi million dollar house the same way you do a $100,000 property.  The audience that you need to reach is different and the marketing for the home far more extensive.  When it comes to commissions whatever you want to offer is up to you.  If an incentive might get a house more attention and get your listing SOLD is it a bad thing? 

Jun 19, 2008 11:25 AM