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21 Jan

Want your home to stand out against the competition?

Posted January 21st, 2006 | View Comments

I’ve written a 26 page booklet about expired listings, “How To Get Your Home Sold Next Time”. I must start getting that bad boy into the mail and trying out the new postage rates. Before too long I should also turn it into a PDF an make it available as an eBook. Naturally it includes our Expired Listing Checklist and some other goodies.

I was reminded of one of the elements on the list today, compensation for the agent bringing in the buyer. Especially in the hot buyers’ market we just left behind, a lot of sellers got used to the idea of reduced commission prices — no doubt thinking that their listing in MLS was enough to get their home sold, no matter how much they offered the buyer’s agent. The reason I was reminded of this is I was preparing a tour for some condo buyers I have — fellows who’ve worked with me in the past. We get along really well, and feel comfortable with one another, so I was joking with them that one of the listings I was going to show them had a higher commission than the rest (3.5%), so they should buy that one from me.

Well, our tour is Sunday, and lo and behold, that one got sold before I could show it to my buyers. The ones with the lower commissions are still out there. Remember, sellers — a buyer’s market means your competing. You compete for the attention of buyers with an attractively priced home, and you compete for the attention of those buyers’ agents with an attractive commission.

It was a REMAX Gold agent who had the listing, too. You go, girl. That won’t be one of the 47% expiring in Sacramento County, then, will it?

  • http://4mysales.com Randall Wilson

    I thin you touched on a hot point for increased commissions that flys in the face of the traditional list it, drop the price, re-list it, drop the price again model. I teach my clients that the best way to get their home sold is to get as many agents to show the property as possible. Therefore instead of trying to drop the price, I encourage my clients to bost the allowable commission. I know the when given two equal properties I will show the one that pays the higher commission first, and I am not alone. Use an increased commission to raise visibility in a property and get it sold faster.

    -Randy Wilson
    http://www.4MySales.com

  • John Lockwood

    Hey Randall,

    Thanks for your comments! It’s nice to know I’m not the only one who has experienced this.

    Of course, it stands to reason, as well, but it’s something that gets ignored in a hot sellers’ market.

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