HomeHome Seller Info2Tips4-2sDay: Inspections, Incentives, and Bonuses

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2Tips4-2sDay: Inspections, Incentives, and Bonuses — 3 Comments

  1. Excellent post.
    I think offering something to the selling agent is a local issue. I think it helps ONLY when inventory is extremely high and seller’s agents commissions have been damaged. In our area, discounters have really messed with commissions. Since the listing agent has control over coops – the listing side remains somewhat intact, but people who deal with buyers are being chucked to the curb with pocket change. Almost ALL of the reductions came out of the selling side. When a major league broker in CT heard what we were getting – he asked me why I even bothered. IF we had high inventory (we don’t) – a bonus would be a VERY tasty carrot to get many more people through the door – FAST.

    None of us likes to think this way, but when the selling side has been so badly beaten up – they are looking for whatever they can get.

    For any other situation, I think your approach is better.

  2. Ruthmarie, thanks for the comment. I do agree that in certain circumstances, a seller bonus is definitely in order.

    In this area, I think it is generally the custom to split the total commission evenly between the selling and listing side, so if one side takes a hit, so does the other…there is one office that is notorious for keeping a larger chunk of the commission but most of the time, both sides negotiate so that everyone comes away somewhat happy. 🙂

    Or, at least, that’s how we do it in my office – not sure how other offices work together (or against each other…) My main goal is to get the property sold….

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