RE commission HELP

[ray7694]

We were going to drop our price since we have had no showings in 6 weeks we discussed offering different things to buyers. My agent now has said we could offer an extra percent commission to a buyers agent for bringing a buyer. So we would drop the price but not as much as to work with the extra percent in commission. From 6 to 7 percent.

Anyone experience this?

[SammyeGail]

I don't live in a big city currently, but I have heard of this, it just motivated buyers agents to show your house more.

How long has your house been listed?

What are the different things you discussed offering to buyers?

Do you feel very confident in your agent? If so thats great! We ended up with a crappy agent once, after the 6 month contract was up we told her we were listing with another agent. She got real mad and told us BTY our garage door didn't work and the wood at the bottom surrounding the garage was rotting. Ummm, we relocated 6 hours away and you never told us these things!?

In one weekend we went back to fix those things while I tore down wallpaper in my kitchen and repainted any rooms with real color a neutral color. The house looked horrible, dead bugs everywhere, the boy next door we were sending checks to had not cut the grass in who knows how long, OMG...

BTY, you should post this in 'The Lounge', you would probably get alot more replies :).

[wellyes]

I wouldn't go for that - incentive for buyer's agents without any incentive at allfor the actual buyers.

Most people do look on their own in addition to getting guidance from their agents, getting access to MLS is standard for buyer's agent customers. Anyone keeping an eye on your listing wouldn't see a change, and anyone currently priced out of your house still wouldn't see it at all --- say if they have the listings filtered to go up to $399 and your house is currently $415. I think it would be more effective to communicate to potential buyers, not just offer an incentive to their agents.

[jenfromnj]

Do you have a good degree of trust and confidence in your agent? I ask only because this seems a bit unconventional, at least for my area, and would actually benefit her/him (if the price isn't dropped as much, then her commission is higher, and you end up paying more in commission in the end). If you think this is a good idea, I'd consider asking her to split the difference (i.e., reduce her commission to 5.5% and you could put in .5%)--I know it varies by area, but here, it's very unusual for sellers' agents to be getting 6% these days.

[keckert]

I have no clue what your house looks like, but maybe the $$ would be better spent on a professional stager, or updates (wallpaper, paint colors, carpets, etc.).

[groundhog74]

I haven't heard of this. We just received a letter from our agent's company suggesting that we offer the buyer 3% back up to $8000 starting May 1 since the tax credit is going away.

I don't know what the market is like in your area, but our house has been on the market since the end of September, with a two month break near the holidays, and we have only been getting around a showing every 2 months. It is very frustrating.

[ajsj]

Hi - I have not heard of this before. I would check with your state realtor association whether this is really happening in your area. The Agents and Brokers that I know are lowering their commissions to make selling more appealing to sellers.