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Old 05-28-2011, 09:36 AM
 
Location: Martinsville, NJ
6,175 posts, read 12,939,084 times
Reputation: 4020

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Quote:
Originally Posted by tom1944 View Post
The listing agent has made money just by getting the listing if the house is sold. I would give the incentive to the selling agent. The listing agent could still make the sale. You could also negotiate certain terms- open houses etc as a condition of getting the listing.
A listing agent does not make money by getting a listing. A listing COSTS an agent money right up to the moment it closes and he gets paid.

What you want to be sure of is that the co op fee offered to buyers agents is the same as or higher than that offered on the majority of similar homes. You're trying to make certain that there is no reason for an agent to NOT show your property in favor of others.

And if you have to "negotiate" things like open houses, you hired the wrong agent. If you're going to spend money on a real estate agent to market & sell your house, you should be paying someone who knows how to do this better than you do. Discuss the marketing approach BEFORE you sign the listing agreement, and if you don't like or agree with his plan, and he can't show you why it's the right approach, it's probably better to not hire him than to hire him and then try to manage how he does the job.
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Old 05-28-2011, 06:06 PM
 
Location: Montclair, NJ
478 posts, read 1,230,138 times
Reputation: 156
If the norm in the area is 2.5% (it is here), you definitely want to offer buyer's agent 2.5%. Yes, the seller's agent is incurring expenses to market the house, but the buyer's agent has probably been showing their customers a lot of things and will be back at your house quite a bit for inspections, contractors, etc. .
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Old 06-01-2011, 12:03 PM
 
Location: Imperial Beach California
15 posts, read 20,561 times
Reputation: 23
The commission is best split, in my opinion, 50/50 and bonuses for the selling agent, as Keke suggested, for a timely transaction are a very good incentive.
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Old 06-01-2011, 12:10 PM
 
284 posts, read 616,956 times
Reputation: 77
Quote:
Originally Posted by hrjersey View Post
I priced to sell and picked the most active agent in the area. We had a lot of showings considering it was February. I had 2 legit offers (both cash w/30 day closings) within 3 weeks but I pulled it off the market before countering because I got my job back.
and you didn't have any problem with your listing agent?
I thought the agent had done some work....
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