The Town Broker

ATTENTION WESTFIELD HOME SELLERS: Keep Your Bonus To Yourself!

I showed a home for sale in Westfield the other day. The real estate agent called me for feedback, as all good agents would. When I told her why it didn’t meet my clients needs, she said something that really struck me: “My sellers really need to be under contract before the end of the month” she said. “If you can find a way to convince your buyers to take it before then, my seller will throw in a $1000 bonus to you the selling agent!” Say what?

Do Agent Bonuses Really Work When Selling A House?

I suppose her comments were designed to entice me, but instead…they ticked me off.  I just spent several minutes explaining why the house didn’t meet my clients needs. I told her that the neighborhood was terrific, but some of the bedrooms were smaller than we needed. The kitchen and baths were more dated than one expects at this price point in town. When she asked my opinion on the price, I politely told her that I thought it was a bit high for the current market. In the end, we were still looking.

But wait…there’s a bonus!!

Do you think that the extra $1,000 in my pocket matters that much to me? Really? No don’t get me wrong…I’m running a business, and I enjoy being fairly compensated for my efforts. I have a wife, a daughter and 2 crazy cats who all like to eat. But asking me to convince my client to do something that isn’t right for them just annoys me. It would be amazingly short-sighted on my part, and isn’t how I run my business. It reinforces the stereotype of the slimy real estate agent who is only out there for themselves. And frankly, I find it pretty offensive. Believe me, I would have sold your house if I could have. I didn’t show it just for giggles. If it met my clients needs, and represented VALUE TO THEM, I can assure you that you would have seen an offer from us. 

So here’s a quick note to all you Westfield Home Sellers looking for a creative edge in this market: There are still qualified buyers out there. Interest rates are still really, really low. I have buyers, and I would LOVE to sell your house! But help me out.

If you want to sell, it’s not all that complicated: 1) price your home properly, 2) have it staged it so it shows better than it’s peers, and 3) put together a complete marketing plan. The buyers will come…believe me.

But as far as I’m concerned, you can keep your bonus to yourself!

Tags: Bonus, Home Seller, Selling Agent, Westfield Homes

This entry was posted on Friday, May 28th, 2010 at 6:30 am and is filed under Sellers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Gene Nelson said at July 20th, 2010 at 2:13 pm

   Great analysis. You’re completely on target to point out that the incentives to buy should go to the buyer, not the buyer’s agent. In the case you cite, paying an incentive to the buyer’s agent would be only a half-step away from bribery.

2. halbenz said at July 20th, 2010 at 3:43 pm

   Thanks, Gene. Price and product have always been what gets homes sold…not agent bonuses!

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