Many times I have been asked by sellers about offering a bonus to the Buyers Agent. Offering a bonus - they think will help the agent bring a buyer to a property.
My opinion: It's not a bonus that will do the trick - it's the PRICE. Let me say that another way. Don't waste your money in offering a bonus to the Realtor bringing a buyer - just LOWER THE PRICE!
In today's market - Buyers are doing so much of their own searching on the internet - many times they are telling the agents which properties to show. While offering a bonus to the agent may be an incentive for the agent to "steer" their client to the property - many times the buyers are the ones dictating which properties they want to see anyway.
Did I say Agents May "Steer" Clients?
Oh I did and oh yes; this is unethical and should never happen. I am however, a realist. I know that some agents live paycheck to paycheck (just like many Americans). I also know that if an agent has to feed their family they will probably either consciencely or unconsciencely steer their clients to the listings that will pay more. It's wrong PERIOD. Agents have a duty to find their clients the BEST home which their needs and wants - ABOVE ALL ELSE.
So then - why fuel the fire by offering bonuses? Just don't.
I personally HATE bonuses because I am always afraid my buyers will think I am pushing a home where a bonus is being offered. In fact last month I had such a thing happen. I actually didn't push for this home at all (it was perfect for her) - because I didn't want her to mistake why I was pushing it. She did buy it - but not because of anything I said.
So How do I sell my house?
-PRICE it correctly
-CONDITION of the home needs to be above your competition
-MARKET it properly - make your agent work
-CLOSING COSTS may be offered to potential buyers (Pay the buyers extra to buy your home - not their agents).
Happy Home Selling !!
Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions! Office: 202-362-5800 Cell: 703.244.3971 Licensed in Washington DC, Virginia & Maryland. Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW Suite 100 * Washington DC 20016
