I bought my first house after being in 16 years in the military. Luckily at the time my Realtor gave me his Realtors bonus so that I could lower the purchase price of the house to a figure that I was comfortable with. At the time the bonus was only $3K. 2 years later I am a Realtor and now bounuses are up to $5K and luckily I can afford the same gesture to my clients. Is there any other Realtors out there doing the same???????????????????????????????
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002
Adan, what bonus? I am not familiar with this could you enlighten me. Thanks, Endre
Aug 27, 2008 07:13 PM
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist
Bonuses seem to be few and far between here in San Diego. I always pull the public records and MLS listing sheets before I go out to a property for any reason, and the highest bonus I have seen was $1,000 a few days ago.
Aug 27, 2008 07:14 PM
Law Office of Richard V. Foster - Henderson, NV
Broker (58356) - ABR/M, CREN, CRS, GRI, RRG, SFR
I think it is good practice to at the very least disclose the bonus to the client AT THE TIME OF SHOWING... Most agents if they disclose it at all do it after the deal is set. I think that the information tells the buyer how motivated the seller is and that gives them an advantage. As for the crediting it, I have done it both ways. Sometimes the lender will freak if there is a high bonus and I have no problem at killing the bonus (assuming the COOP is fair) to make the deal work. I will give it to the client if I think it is the right thing to do. My issue is when the client reaches into my pocket without me offering, THAT I HAVE AN ISSUE WITH!!!
Good, ethics, come work in Las Vegas, I will hire you!!!
Richard
PS... We are seeing bonuses above $10,000 sometimes and COOPS that are double the average (no Sherman Anti Trust comment). I think outrageous COOPS should be dealt with too... I make the seller discount the purchase price AFTER reaching a executed contract in those cases.
Aug 27, 2008 07:40 PM
The Homefinding Center - 1000 Palms, CA
Real Estate Broker since 2008
Here's another case of an agent not demonstrating that he/she is earning the entire commission for their services.
Aug 27, 2008 09:44 PM
Keller Williams Real Estate - Langhorne, PA
Realtor, -www.swainsells.com- Bucks County, Pa
We do not see any bonuses in my market. Very, very rarely have I seen anything like that.
Aug 27, 2008 09:50 PM
Clark Realty & Associates LLC - San Antonio, TX
Endre,
Thanks for your question, I should of clarified that these bonuses are on new home sales, and in Texas, or at least the San Antonio area.
Aug 27, 2008 11:14 PM
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002
Hi Adan, Thank you .Now I understand, I agree if you can get a bonus and you are in a position to give back, why not, that money will come back many fold, referrals, repeat client etc. What I do is from every commission I give to Charities. (mine happens to be animal causes) if a client comes from these Rescue organisations, then I give 20-25% back to that Rescue organisation depending on the year, if not I still give to those charities.
Aug 28, 2008 12:53 PM
Robin Rogers, Silverbridge Realty, San Antonio, Texas - San Antonio, TX
CRS, TRC, MRP - Real Estate Investment Adviser
Hi, Adan:
Yes, I've done that a couple of times. Once, to help out my agent to make her deal work--the buyer brought it up and insisted on it. The other time I volunteered it because otherwise my clients would not have been able to have the changes done that they needed in order for their parents to live with them. That time it felt a lot better!
Cheers,
Robin
Feb 14, 2010 01:14 AM
Comments(8)