Seller’s Universal Qustion: “How Much?”
Tuesday, August 18, 2009
In a Hollister listing interview the inevitable question came up and I gave the answer I have heard myself offer more and more lately.
The question: “How much of a commission do you charge”?
The answer: “If your competing homes for sale are offering 2.5 or 3.0% to the selling office you should offer at least 3.0%. The first sale you need to make is the Selling Agent’s interest in showing your home. You want to do everything possible to encourage those agents to enthusiastically promote your home. If you instruct me to collect a lower commission, half of which goes to the Selling Agent, they will see that lower commission when searching for homes to show their buyers. We want to ENCOURAGE them to show your home. A lower commission being offered by you while competing homes are offering more will be discouraging to them.
“The home will sell itself – once the agent and their prospective buyers actually tour your home. We just need to do all we can to make your home appealing to the prospective buyers AND their agent”.
This answer seems to resonate as a new thought with most sellers and typically the issue is settled. Now! If we could just find a buyer for this nice, upper-end home! Anyone want a producing vineyard and nice home in the Spring Grove Area of Hollister?
Where can I get more information on these AIDTs?
Thank you for a new hope. I’ve been very frustrated. Maybe this will help.
Hi Nancy,
I’m a little confused. Are you referring to the article on Jumbo Home’s sagging market?
I’ll be happy to send you more information.
Mike
Our agent talked us into 3% and also suggested that we offer another bonus. So we offered $2,000 to the agent who brings us an offer before 9/1/09. That got our home sold faster. Now I am glad we did that. Make sure to tell other sellers my story.
Congratulations Juan! As I said, your 1st sale needs to be the prospect’s agent. You obviously made your buyer’s agent an offer they couldn’t refuse.
Mike