Incentives for buyer's realtor?

[lostinsac]

Hello all,

We are in a tough market and want to get our house noticed. The realtors we've interviewed have all said the same thing: Super low price.

We do not want to do that, so we were trying to think 'outside the box'.

What if we offer 5% to the buyers realtor, and try to sell the house ourselves (we would use a low cost listing service realtor to get us posted on the mls in the first place)? Would that generate more traffic?

A note - It is more to get realtors into the door, and at least preview the property. We are by no means trying to 'steer' buyers to our home if it isn't in their best interest, but we figure the more buyer's realtors that see our property, the better....right?

Thoughts? Thanks!

[IggysListing]

It is an attention getter.
Have you taken care of all the fundamentals of look and functionality
of your home?
I would put the money there first.
Having done that, I would make sure the world knows you have the
best looking house in the neighborhood. Paint and staging can go a
long way.
Best wishes.

[Jon Brady]

Offering incentives to the buying agent doesn't make any difference to a buyer.

If you are going to offer commission, you might as well just have a good realtor list your house.

But when it comes down to it, your home is either priced right or it's not. The buyer's have the advantage now, so if you want to sell your home you have to play by their rules.

[doogers]

If you are willing to pay 5% to go by yourself, then I would recommend just hiring an agent and selling it for 6%. The real estate agent can do a lot more marketing than you can, unless you are willing to spend big bucks.

[lostinsac]

So, our house is apparently "fantastic" "gorgeous" etc...according to three realtor's we've interviewed. The problem is they have all said that since "80-85% of buyers look online now", they don't want to advertise anywhere BUT online. One of them even said she will do print ads ONLY if WE pay for it!

I fear that realtor's in my area are scared of putting any money into a house to try and sell it because inventory just isn't moving.

So, we are thinking if they are just going to put it online and the MLS, why not hire a service for that and market it ourselves - or have a professional marketing team create a plan for us. They spend 1% marketing it, and we pay 5% to the buyers realtor.

Also: No, we can't just hold onto it, rent it out, or move into it. We've considered that already.

To reply to those who have replied: It is brand new, fully landscaped, and staged by professionals.

I am MOSTLY concerned with being ethical, and making sure realtors feel ok with this, AND that it will generate more interest.

Thoughts?

[IggysListing]

Generally speaking, the 2 best ways to advertise are MLS listings
and a sign out front and if possible more signs.
Have you had it on the market yet?
How are homes selling near you?
If homes are selling near you and yours is pristine and don't forget
functional or appealing to most people, then perhaps you should not
be concerned.
Best wishes.

[Greg]

5% will get agents in the door but only price will get the buyer to sign a contract. Buyer agents can only do so much.

[Cedar City Utah Realtor]

Search Google for your City + Real Estate and find the agent with the top ranked website. Interview that agent and pay them 6%. If you want top dollar you will need as much exposure as possible. You also need to realize that price is still important. Put yourself in the buyers shoes and be honest with yourself.

[VancouverWa]

Hi Lost,

Keep in mind that procurring the buyer is only the first step in selling your home. Some would say the easy part. There was a time (a few months ago) when employing your Uncle's girlfriends 2nd cousins nephew who just got into real estate was enough to sell your home. The market has changed 180 degrees.
We are careful as to where the dollars are spent. Everyday that house sits on the market its money or time spent with no guarantee that it will be recouped. We want the most bang for our buck and Newspaper adds are expensive with little return. I like most other Realtors will do them if asked, but i know most buyers search the internet or drive the neighborhoods that they like. The overwhelming majority are working with a Realtor and enjoying the free coffee and pop in the office.

There is nothing wrong with limited agency companies or for sale by owners, but I know going in that I will be doing twice as much work and doubling my liability.

Best of Luck

[Agent 007]

So, our house is apparently "fantastic" "gorgeous" etc...according to three realtor's we've interviewed. The problem is they have all said that since "80-85% of buyers look online now", they don't want to advertise anywhere BUT online. One of them even said she will do print ads ONLY if WE pay for it!

I fear that realtor's in my area are scared of putting any money into a house to try and sell it because inventory just isn't moving.

So, we are thinking if they are just going to put it online and the MLS, why not hire a service for that and market it ourselves - or have a professional marketing team create a plan for us. They spend 1% marketing it, and we pay 5% to the buyers realtor.

Also: No, we can't just hold onto it, rent it out, or move into it. We've considered that already.

To reply to those who have replied: It is brand new, fully landscaped, and staged by professionals.

I am MOSTLY concerned with being ethical, and making sure realtors feel ok with this, AND that it will generate more interest.

Thoughts?

If an agent is not willing to do extensive advertising in this type of market, then they're not giving their clients the best service possible. You want an agent that will list your home and do some great advertising. Selling it yourself offering more commission will not even get agents in the door because most agents do not like dealing with FSBO sellers. Most of the time the agent has to do twice the work and there is a lot of liabilty involved. Plus you want representation when it comes to negotiations and such.

I am a Realtorin Las Vegas, but I know many great agents in many areas that I use to refer my out-of-state clients to. I would be happy to refer you to a good one in your area that will do plenty of advertising for you. They will do a great job marketing your home. You can contact me at the number below or email me at LenM@AmericanaGrp.com.

:)