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Based on my current experience, they will find out when the loan documents are being drafted up. I'm not sure I'd be happy to see if the buyer agent is getting more than the selling agent.
Many times there is a difference iin commssion splits if the listing agent has taken a reduced price listing and offered a full BAC to the buyer agent.
Commissions are shown on the sellers side of the HUD1 and usually buyers don't pay a lot attention or realize the splits.
Many times there is a difference iin commssion splits if the listing agent has taken a reduced price listing and offered a full BAC to the buyer agent.
Commissions are shown on the sellers side of the HUD1 and usually buyers don't pay a lot attention or realize the splits.
I notice because it's a big number. However, my point is that if the seller is getting the full commission and the buy agent is getting a larger commission it might appear strange.
I think that lowering the price or using the money for concessions would attract more potential buyers. The bonus won't work because any offer less that full price, the first thing that gets negotiated out is the bonus. period.
I think that lowering the price or using the money for concessions would attract more potential buyers. The bonus won't work because any offer less that full price, the first thing that gets negotiated out is the bonus. period.
Maybe in your area, but very seldom in ours. It's against our MLS rules for agents to negotiate advertised commissions.
I saw today, on a listing that was just reduced to far below what homes are going for in this area............scrolling accross........that a New 42 inch flat screen TV will be given to the buyer who offers full price.......
What else will someone have to kick in to sell their home.......
I saw today, on a listing that was just reduced to far below what homes are going for in this area............scrolling accross........that a New 42 inch flat screen TV will be given to the buyer who offers full price.......
What else will someone have to kick in to sell their home.......
I almost kicked in my BMW Z3 ..... yikes, so glad I came my senses! I still think the Buyers's Bonus is a good idea but make it so even your own agent will get the bonus if they bring in the Buyer. Keep the bonus reasonable so hopefully it's not large enough to make someone do anything unethical.
I almost kicked in my BMW Z3 ..... yikes, so glad I came my senses! I still think the Buyers's Bonus is a good idea but make it so even your own agent will get the bonus if they bring in the Buyer. Keep the bonus reasonable so hopefully it's not large enough to make someone do anything unethical.
People are either ethical or unethical. It has nothing to do with making someone do anything unethical. If a buyer agent "steers" a client to a house because of an incentive bonus, no matter how "reasonable", then the agent is unethical. If your house meets my clients' criteria I will recommend that my clients see it. If it's the right house and priced correctly they will probably consider making an offer. IMO, any agent bonus incentive is immaterial except to the degree it will lower the purchase price to my clients or pay their closing costs.
I almost kicked in my BMW Z3 ..... yikes, so glad I came my senses! I still think the Buyers's Bonus is a good idea but make it so even your own agent will get the bonus if they bring in the Buyer. Keep the bonus reasonable so hopefully it's not large enough to make someone do anything unethical.
I've seen those where people offer cars, even those other ones that offered another small house.
I've seen those where people offer cars, even those other ones that offered another small house.
With many of the new laws against mortgage fraud, incentives like these to buyers may get someone a jail term.
We are selling a home where the buyer is getting an FHA loan & all parties and their agents had to sign a document that said nothing like this was being given to the buyers.
It's got to be written and disclosed in the contract.
People are either ethical or unethical. It has nothing to do with making someone do anything unethical.
I hear what you are saying and giving it more thought now, I've changed my mind about a buyers bonus. Had I given my unethical realter my BMW to use as a bonus, there is the chance that she may not have brought in potential buyers but might have held out for her own buyer. Come to think of it ..... the three offers we had on my home, one was people I showed the house to and the other two were her buyers. Hmmmmmmm, only she knows the truth.
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I still think the Buyers's Bonus is a good idea but make it so even your own agent will get the bonus if they bring in the Buyer. Keep the bonus reasonable so hopefully it's not large enough to make someone do anything unethical.
