Selling Bonus To REA's
Can anyone here tell me if they have used a bonus to REA's for the selling of a property? If so, how did you structure it and was it effective?
I am contemplating using a bonus, but am unclear as to how to apply it. As an example:
$2K bonus if house is sold within the 1st 30 days...$1K bonus if sold within 1st 60 days...0 bonus if sold after 60 days. Also, do I need to offer any part of this bonus to the listing agent, or just offer it to the selling agent? Is there any problems that anyone knows of, by not including the listing or selling agencies from this type of deal? Any help would really be appreciated.
Dave
i would offer a bonus to the selling agent...if the listing agent is motivated he/she will find a buyer for your property and receive the extra bonus since he/she will also be the selling agent in this instance. incentives are always good to use, but the property its worth whats its worth and overpricing it wont help even you offer a very generous bonus.
Dave,
Speaking from the brokerage end of it...
Selling bonuses are typically offered just to the selling agent--the agent who brings the buyer. If the listing agent procures the buyer (thus becomes selling agent), then the listing agent could conceivably receive the bonus. You can structure it however you want--tied to a time frame or not. Make sure that the MLS info and any marketing materials disseminated include the fact that you're offering a bonus of X$.
Nancy
Nancy
Thanks again, for your wonderful advice.
Dave
I offer bonuses to selling agents whenever I can to expedite the sale of the property. It's usually not tiered in a sense that it's only one amount if the transaction is closed by a certain date. It works for me most of the time, but if the property is overpriced and/or really not desirable, even a bonus might not be enough to move it quick.