Up the commission to get buyers agents

raya7694April 12, 2010

We have had no showings by agents only two from an open house. We were going to lower the price and my agent has now said we could up our commission from 6 to 7 percent and give a prospective buyers agent an extra percent as an incentive to show the house.

My agent won't lower her commission which is frustrating but in the end I need to get people through the house.

Does this sound like a good idea.

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linda117117

You are paying 6% commission but how is your agent splitting it? Is she offering 3% to a buyers agent or something less? What is customary in your area? If you are already paying customary commission, maybe your agent should figure out what SHE is doing wrong, why people arent showing the listing. Sounds like she is making it 'your' problem.

    Bookmark   April 13, 2010 at 8:30AM
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sylviatexas1

House hasn't sold so agent is doing something wrong?

When an owner wants to sell & the property isn't selling it's very much the owner's problem.

Until that house sells, owner can't get on with her plans, her new job, her herb farm, her return to the old homestead to help her mom...

& OP said that agent suggested increasing buyer's agent commission as an incentive, so it looks like the question about commission split was answered in the original post.

As for "customary", if "customary" isn't working, it's a good idea to try something new.

raya, I don't know what things are like in your area, but sometimes increasing the buyer's agent commission does work, especially if it's publicized.

& if your agent is marketing your property competently & diligently, which it sounds like she is, there's no reason to expect her to reduce her fee.

    Bookmark   April 13, 2010 at 10:07AM
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emilynewhome

Doesn't it all sound a little odd, that Realtors aren't showing your house or talking up your house, for them to earn the standard commission, but will if their paid even more than 6-7%!
Business must be really good!

    Bookmark   April 13, 2010 at 1:03PM
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mariend

As much trouble you seem to have had with this realtor as you have posted several time, maybe you should get a new one that is more aggressive and will work better with you. We had 3 different realors over 2 years and the third one was the one who sold it in a month, with a 45 day escrow.

    Bookmark   April 13, 2010 at 2:16PM
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sylviatexas1

I don't know that raya has had trouble with this agent;
she (he?) posted several posts, some of which were when the house was for sale by owner.

raya, how long has the agent actually had the house listed?

    Bookmark   April 13, 2010 at 3:42PM
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raya7694

The agent called today and stated she felt she wasn't the right agent for us and we agreed to withdraw. I think she was tired of me asking about things she promised and never did. I made her retake horrible pictures and do the virtual tour. I think I drove her crazy by making suggestions. Lord forbid an agent have to work. I am moving on as she didn't get me one showing. I am dropping the price 10,000 and hoping for the best.

    Bookmark   April 14, 2010 at 8:20PM
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linda117117

House hasn't sold so agent is doing something
wrong?

No Sylvia, who said anything about the house not selling? She said the house isnt showing. Its NEVER going to sell if it doesnt show. If you have been following this OP's threads, she is redecorating, staging, asking for new pictures from her realtor, trying to keep the listing out there. Her agent said the house is priced competively and yet, still no showings. It is possible the agent isnt getting the listing out there? It seems to me the homeowner is the one who is going nuts to spark some interest here while the agent sits back and waits for showings thru MLS. An agent asking for a higher commission to spark interest seems like a lazy agent to me. If the price is right (as she indicated to the OP it was), maybe the exposure isnt. Buyers ask to see particular houses, they have no idea what the commission is to the agent, nor do they care. Obviously no one is asking to see it. Agents show houses that they think their buyer will like. If the commission is already customary, they are ruling it out for some reason. They arent going to show a house that isnt right even if the commission is higher than others.

    Bookmark   April 15, 2010 at 9:00AM
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sylviatexas1

I don't see that the agent hasn't been working;
I asked how long the house had actually been listed, never got an answer, & now the agent has suggested withdrawing the listing.

Do you suppose the seller has been hounding the agent as much as she's been posting posting posting on this forum?

    Bookmark   April 15, 2010 at 3:39PM
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revamp

The only thing I can see that the agent did wrong was state that the house is competitively priced.

It isn't, and that's why the house isn't showing.

I also second silvia's pondering on the posting posting posting thing. Can't help but figure that raya's poor realtor was hounded hounded hounded.

    Bookmark   April 15, 2010 at 3:57PM
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covingtoncat

Lighten up on the OP. That's why many of us come here, for suggestions and support. There are all kinds of personality types and Realtors are no different. Maybe they conflicted, maybe not. Perhaps the OP is over anxious or maybe the Realtor is not up to the task. Who can say for sure? The relationship wasn't working so its time to move on w/o bashing either party.

My suggestion would be to interview multiple agents and get a better feel for work ethic and personality BEFORE signing on with someone new. Maybe you need someone who is more willing to aggressively market the property.

    Bookmark   April 15, 2010 at 6:55PM
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