U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > Florida > Fort Lauderdale area
 [Register]
Fort Lauderdale area Broward County
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 01-21-2009, 03:20 PM
 
4 posts, read 7,292 times
Reputation: 10

Advertisements

My hubby and I are planning to sell our condo in Plantation.

We are NOT trying to cut out the agents. We plan to pay the full 6% commission, but would like to direct it entirely to the selling agent.

We plan to use a flat fee mls service (and realtor.com), and act as the listing "0% commission" agent. Our hope is that an agent/broker is more likely to show our place if they know that they will not have to split the commission with the listing agent. They would get the whole enchilada!

To us that translates to having more agents conducting themselves with the vigor of a listing agent and putting us at the top of their list. In the vernacular of DH - "incentivize" the professionals!!

What do you think of this strategy? Thanks
Rate this post positively Reply With Quote Quick reply to this message

 
Old 01-21-2009, 04:15 PM
 
13,630 posts, read 22,209,099 times
Reputation: 37648
When we were trying to sell a home in NJ, my husband's company upped the buyer's agent's commission to 5% as an incentive to bring in people. The company also paid the selling agent's commission, but this was a separate incentive. It definitely increased traffic, and we sold pretty quickly. I would say it's a good idea, given the current market. Good luck!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-21-2009, 05:32 PM
 
242 posts, read 682,040 times
Reputation: 192
Quote:
Originally Posted by EGL433 View Post
My hubby and I are planning to sell our condo in Plantation.

We are NOT trying to cut out the agents. We plan to pay the full 6% commission, but would like to direct it entirely to the selling agent.

We plan to use a flat fee mls service (and realtor.com), and act as the listing "0% commission" agent. Our hope is that an agent/broker is more likely to show our place if they know that they will not have to split the commission with the listing agent. They would get the whole enchilada!

To us that translates to having more agents conducting themselves with the vigor of a listing agent and putting us at the top of their list. In the vernacular of DH - "incentivize" the professionals!!

What do you think of this strategy? Thanks
you can always do stuff like that, yes.
You can always advertise it in many ways and offering various amounts.

but it really depends on whether you are over priced or not for your home, realistically. If it is priced to sell, it will sell fairly easily. Since most people are over pricing now, it is easy to go below them for a good home.

4 to 6 months.....if priced right. If not, it won't sell unless you get lucky and find a real smart invester....lol
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-21-2009, 06:07 PM
 
4 posts, read 7,292 times
Reputation: 10
Thanks, Mattie for the comments and encouragement.

Thatguywho - yes, we are aware that we must price aggressively in this market. We have very few comps to go by, but have priced ourselves significantly under the asking price of a very similar unit. Unfortunately, we don't know whether that's low enough since nothing has sold recently. Thank you, too, for the comments.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-21-2009, 06:16 PM
 
3,043 posts, read 7,078,570 times
Reputation: 897
If you're using a flat fee mls service, in theory then, you're the 'selling agent,' and anyone bringing a buyer would be called the "buyer's agent." You could list in the description that you will be offering the "buyer's agent" 6%. I think that might effectively increase traffic.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-21-2009, 07:36 PM
 
4 posts, read 7,292 times
Reputation: 10
Thanks, Fauve.

That's twist I hadn't thought of. I may try that.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-13-2009, 09:22 AM
 
Location: Hollywood, Florida
5 posts, read 14,600 times
Reputation: 10
Most likely you will have to do all the work. If you are planning to offer 6% why not get a realtor than will take the burden off you and give you some professional help/advice?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-13-2009, 10:01 AM
 
4 posts, read 7,292 times
Reputation: 10
Pamfsu -If we just offer 6% in the conventional way then 3% goes to the agent that brings us a buyer and 3% goes to the broker that we list with.

So, unless that listing broker is the one that gets us a buyer, the "winner" gets only 3%.

The significance of that is that we will then look like the hundreds, and I mean hundreds, of other listings out there.

By offering all 6% to the person that brings us a buyer, we feel that we are giving the agents a reason to show (and push) ours over others.

Just as an aside, our unit is very nice, clean, shows well and has been updated with high quality (since we updated it for us, and not just to sell) granite, porcelain tile, and carpeting. Our reason for offering a larger commission is only to "float" up to the top, not to unload a "dog".
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Fort Lauderdale area
Similar Threads
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top