911,228
No. It could temp agents to steer potential buyers to that house. Usually broker approval is needed for agents to accept bonuses. If a seller thinks offering a bonus will attract more buyers, i prefer that they just raise the commission to 6.5% and offer 3.5% to buyers agent. Or use that bonus money to pay for some advertising.
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Sandy Padula & Norm Pa...
, CA
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Michael Setunsky
Woodbridge, VA
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Mona Gersky
Sylva, NC
5,583,278
Hell no.... they shout out desperation.... a buyer's agent wants a commission as much as the listing agent wants to sell the home.... there will be a sale if the buyer wants the home....even if it's a "short commisssion"....the buyer's agent won't be happy, but they'll do it....why pay extra.... it's coming out of your pocket....
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Sandy Padula & Norm Pa...
, CA
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Mona Gersky
Sylva, NC
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Michael Jacobs
Pasadena, CA
1,452,719
In the past, I've had clients take advantage of "Decorating Bonus" when choosing between 2 homes. I dislike the bonus that goes to the Agent though and feel that should stop.
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Sandy Padula & Norm Pa...
, CA
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Mona Gersky
Sylva, NC
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Susan Emo
Kingston, ON
1,661,936
I am against them. Drop the price what the bonus would be and get a buyer.
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Sandy Padula & Norm Pa...
, CA
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John McCormack, CRS
Albuquerque, NM
443,220
The big answer is probably not. Yet I am reminded of a time when the condo conversion craze was going on. A developer was offering a $2,000 gift certificate at a high end shopping center. I worked my butt off to sell that complex and finally did. I went on a fun shopping spree and bought my Mom her first Armani jacket for Mothe's Day. She was so very thrilled.
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Shirley Coomer
Phoenix, AZ
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Sandy Padula & Norm Pa...
, CA
4,571,967
I don't think so.
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Sandy Padula & Norm Pa...
, CA
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John McCormack, CRS
Albuquerque, NM
2,362,601
I increased showings with a seller bonus
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Shirley Coomer
Phoenix, AZ
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Sandy Padula & Norm Pa...
, CA
784,786
I think that they get agent's attention, but it is the buyers who buy.
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Bob Crane
Stevens Point, WI
6,393,154
1,725,996
1,153,794
I have never sought them out and conversely have been asked why I showed certain other comparable properties with lesser commissions. That being said when they're there I don't refuse the perk but I don't seek them as I have seen too many other agents fall prey to their lure exclusively. I do not see it as a good business practice.
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Sandy Padula & Norm Pa...
, CA
634,482
I don't encourage clients to offer them. Lower the price instead.
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Sandy Padula & Norm Pa...
, CA
699,277
Seller bonus's in this market do not work but in a slow market 1/2 percentage more on commission does. Reversely the agent who offers less commission will only see their property shown by newer agents.
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Sandy Padula & Norm Pa...
, CA
4,800,082
Just my opinion, but I'm sure some agents will notice and try to push a deal. Though, these are typically the desperate ones. The bonus would be better spent either to fix up the home or to lower the listing price.
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Sandy Padula & Norm Pa...
, CA
613,494
Anytime I sell one of my own properties, I put either a bonus or higher commission or both.
I always sell quickly with a higher than average sales price.
Face it, agents are greedy...there will be more showings.
Eve
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Sandy Padula & Norm Pa...
, CA
5,868,472
We have a Seller's market and do not need to do this, but even when the market was more stable, did not work.
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Sandy Padula & Norm Pa...
, CA
1,466,207
Mona Gersky I believe agent bonuses are old school and don't work anymore.
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Sandy Padula & Norm Pa...
, CA
657,208
Bonuses belong to the broker, not the agent. So the question is: how do you "split" a car or a $100 gift card at the Spaghetti Factory? Bonuses are also reportable as 1099 income for independent contractors, so I'd rather take a higher commission from the list agent and keep everything above board on the HUD-1 (or new Closing Disclosure)
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Sandy Padula & Norm Pa...
, CA
1,513,143
Only if the home gets sold; it seems that it is a fad making a comeback here and it does not seem to be working. They should just adjust the price to where it should be!
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Sandy Padula & Norm Pa...
, CA
7,835,402
Much depends upon the current market conditions. A commission bonus will motivate some agents to show a property.
Paying for some or all of the closing costs is a major incentive for many buyers.
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Sandy Padula & Norm Pa...
, CA
4,319,419
Mona Gersky it's a good idea to reflect this bonus in price!
Now when you talk about Zillow, Seller Bonus to Buyers may put your listing slightly up in list - and may have more hits. (Though not sure if this feature still exists on Zillow.)
3,164,219
when I have a seller suggest an agent bonus I always try to make it be a buyer credit we advertise instead.
269,783
Only as a last resort. I think the property being priced correctly is the most important draw.
1,712,676
personally I would rather do a price reduction. To me it is all about the buyer not the agent.
900,128
2,224,473
I don't like them and offering them. When I see a seller offering a bonus, I think they are desperate to sell. I don't look for properties with a bonus. I'm working for my clients to find a home that will be what they want, not to sell a house with a higher paycheck.
763,883
Mona, are you referring to offering a buyer or buyer's agent an incentive to get into escrow or an incentive to get a seller to list with you?