[2BNTV]

I just read an article in the the AAA newsletter that indicated one is better using local real estate agents for buying and selling their homes. Definition of "local", is being very familiar of the town that you live in.
I was wondering if anyone who has moved to TV and sold their homes had a better result using a local real estate agent as opposed to using the one TV relocation service suggest.
I thank you for your anticipated cooperation in this matter.

[raynan]

Hi
We're going through this now and The Villages sent us 3 agents from major companies and all the agents were local. In fact, one lives less than 2 miles from us. Very happy, so far, with their help.
Nancy

[snitzel]

I could not have been more pleased with the results of working with TV relocation service. We were given the names of two local real estate agents. Even though Rhode Island is very small, it is very provencial. Each agent worked out of offices in my area. The end result was that I sold my house is 3 days. In fact it sold so fast we had to move into an apartment for four months until I retire. That was a good problem to have. We will be moving permanently to TV is three weeks.

[F16 1UB]

I hate people like you. Just kidding. TV suggested 3 Realtors and 1 of the 3 called us the following day. They were rated #1 in greater Cincinnati area. We were located on a backwater lake off of the Ohio River in KY in a resort area. Our agent died unexpectedly 6 weeks into the contract. We opted out and went for an agent we felt that was more familiar with our area. It still took us 13 months and a reduction of 38% from our asking price to sell. We had 4 showings. NO regrets.

[getdul981]

We are in the process right now also. The relocation agent at TV had 2 local agents get in contact with us. Unfortunately, we like both of them and have not decided which one to list with yet (we just signed the papers and put a down payment in TV on May 6). One has come back with a suggested listing price and we will hear from the other on Tuesday. Then we decide which one to go with. We're currently in the process of getting the house ready to list.

[Barefoot]

Originally Posted by 2BNTV

I just read an article in the the AAA newsletter that indicated one is better using local real estate agents for buying and selling their homes. Definition of "local", is being very familiar of the town that you live in.
I was wondering if anyone who has moved to TV and sold their homes had a better result using a local real estate agent as opposed to using the one TV relocation service suggest.
I thank you for your anticipated cooperation in this matter.

Usually a Relocation Service takes a percentage of the commission as a referral fee. Whereas if you called a local agent directly, they would receive the whole commission.

[getdul981]

Originally Posted by Barefoot

Usually a Relocation Service takes a percentage of the commission as a referral fee. Whereas if you called a local agent directly, they would receive the whole commission.

Isn't the commission the same whether it's sold by the listing agent or split between two or three? BTW, we've thought of offering a $1000 bonus to the selling agent. What do you think?

[Barefoot]

Originally Posted by getdul981

Isn't the commission the same whether it's sold by the listing agent or split between two or three? BTW, we've thought of offering a $1000 bonus to the selling agent. What do you think?

Correct, the home owner would pay the same amount of commission.

My point was that if a referral amount is being paid by the listing agent to the Relocation Service, there is less commission for the listing agent to split with the selling agent. A listing agent might be a tad more motivated to spend personal money on expensive advertising if the commission amount isn't being split with a Relocation Service.

If you are having difficulty selling, your listing agent will probably ask for a price adjustment (haha, this means a reduction). Instead of reducing the list price, I think that offering a $1,000 bonus to the selling agent is a brilliant strategy. It will ensure that selling agents pick your home to show first, above others in the same price range.

I was in the business for a lot of years, now thankfully retired. But I've seen that strategy work well many times.

[raynan]

getdul981

That's a great idea of giving the bonus instead of lowering the price. I'm going to pass that on to a friend who is having trouble selling. Just to update you on what happened with us....We signed on Thurs with the agent that lived closer to us, knew the area better and seemed more enthused about our property. Fri it was on MLS. She did GREAT digital pix. Fri night called us and asked if she could do an open house Sun. for preapproved people already looking at houses and brought by other brokers. Too late to advertise but we said what the heck. Cleaned like crazy Sat. Saw cars driving by (and we are not easy to find but MLS gave address) Sun=8 couples.2 offers, 1 full-price and wanted to move in in 3 weeks, 1 over-price wanted to buy refrig and wanted 2 months to move in. PERFECT! Gave us time to empty out 33yrs of stuff and to call down to TV to start building. Very happy with results using the relocation dept.

[getdul981]

WOW!
That's great raynan! We're hoping to get our house listed Wednesday. We've been working for a month and a half to get ready. Still got a lot to do. I've read about several people who have had quick sales on this forum.
The first house we sold took over a year, but it wasn't in a location that just anyone would want to be in. Kinda secluded. Then when someone did buy, they wanted to close in 30 days (cash sale). Needless to say, we packed and got out in that time. Good Luck and hope tgo see ya in TV soon.

[Talk Host]

Originally Posted by getdul981

Isn't the commission the same whether it's sold by the listing agent or split between two or three? BTW, we've thought of offering a $1000 bonus to the selling agent. What do you think?

The $1,000 bonus is a good idea. You need to be able to somehow let all the agents know about it. Your listing agent isn't going to tell them. They probably won't put it in the ad unless you insist.

Try some form of $1,000 to the selling agent and $500 bonus to the listing agent if there is a contract in the next 30 days. If there is a brokers open house, be sure you let them all know about the bonus at that time.

If you are having a brokers open house, they wisk those agents through like a herd of buffalo. Have fresh coffee and pastry/donuts (Panera goodies) for them, so they stop for a while and mill around. If there has not been a brokers open house, insist on one.

Always ask your listing agent for a weekly report on how and where the house was advertised.

You may also want to consider using that $1,000, rather than a bonus, buy an advertising schedule on the local radio station about this wonderful house for sale. Or, a couple of $500 ads in the newspaper. Remember, your agent will dump your house in with all the others in their advertising.

Has your agent talked to you about "Staging" your house? It really works. Prospective buyers are distracted by "YOUR STUFF." They want to be able to picture "THEIR STUFF" in your house. We once looked at a house that we could have been happy with, but the owners had so much of their stuff on the walls that we felt like we would have been invading their privacy to buy it. We couldn't see past "THEIR STUFF."

JLK

[getdul981]

Thanks TH, we're in the midst of having our house staged. There has been much painting, packing and purchasing of necessary items to make things look good. Hopefully, we'll get the final staging done Wednesday. I plan to have the listing agent indicate there is a bonus when she lists. I thought about doing $2000 if sold in the first 30 days, $1500 if in the next 30 days and $1000 if in the next 30; but I'm thinking that just the $1000 will be OK. We've already had to put in a new heat pump, so our available cash is getting to be in short supply, and we need all the equity we can muster for the new house in TV.

[logdog]

A bonus is a great idea but it should go to the buying agent rather than the seller. If you indicate in the MLS that you are willing to pay an extra 1% or even a half percent more to the buying agent, you are providing more incentive to get your house shown. Buying agents steer potential buyers to homes where they can make the most profit while meeting all the customer's needs. I don't know if you can specify a cash bonus in the MLS but I do know the listings show what percentages are paid to buyer and seller agents.

[Barefoot]

In almost all cases there will be two agents involved in the sale of your home .... your listing agent, and the selling agent who actually brings in the purchaser and writes up the offer.

The bonus should be offered to the selling agent, because the selling agent will then be motivated to bring in purchasers to see your home. On a real estate listing, under "comments", the listing agent should be able to add:
$_____ bonus to selling agent.

However the very best thing you can do to make your house "fly off the shelf" is to price it properly and box up all your personal stuff.

[bkcunningham1]

I understand where you are going by offering a bonus. This isn't a personal slam against anyone involved in the discussion. But I personally would steer clear of any agent who would accept such an offer to sell or one who would get buyers to look at your house based on a bonus. First of all, your listing agent has a contractual obligation to represent you and to get you the best price and to bring buyers in to see you.

As to offering it to a outside seller not representing you, how unethical would it be for that agent to steer buyers to your property in order to get a bonus. The buyer's agent is contractually obligated to get their client the best deal.

It shouldn't be based on a bonus. What if they were representing you and steered you away from a house that was in your budget or met your criteria to one where they were getting a bonus. Every agent should have a conversation upfront with the client about their commission arrangement.

A buyers agent owes the buyer undivided loyalty, reasonable care, disclosure, obedience to lawful instruction, confidentiality and accountability.
The agent must put the buyers interests before their own and negotiate the best price and terms for their client.

Very unethical.