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What's the thoughts on hypothetically
Home being listed drop home by 10,000 or offer a 10,000 realtor incentive (ontop of the normal 3 percent to buyers agents?)
Curious on your opinion which works better?
400+ price range.
$10k doesn't make much of a difference for a buyer in that price range as you'll still capture the same group of buyers. You need to do a $25k drop for a completely different buyer, or $15k to catch the same buyers' attention. If you want to do a realtor incentive, just do a 4% instead of 3%. That will get their attention a little more than $10k, plus the buyer will still want to negotiate no matter what you pay their agent.
I've got a house listed we've increased the Buyer Agent Comm to 4% for an accepted contract by a certain date. If that doesn't increase your traffic, go back to the 3% and lower the price.
Keep in mind if a house is overpriced, you can get 100 buyers in but still not get an offer. If you've had a lot of showings with no offer, it's the price or condition of the house not the incentive.
Ask your agent. They will know if your house is overpriced, and by how much.
As far as realtor incentive, many (not all) brokerages will not take a portion of the commission for an agent "bonus" but will take their percentage if you up the commission. So it's more cost effective to you to include any incentive as a bonus rather than increasing the commission %.
I do think increased incentives will get more realtor interest and maybe showings, but it will not overcome an overpriced house.
Ask your agent. They will know if your house is overpriced, and by how much.
As far as realtor incentive, many (not all) brokerages will not take a portion of the commission for an agent "bonus" but will take their percentage if you up the commission. So it's more cost effective to you to include any incentive as a bonus rather than increasing the commission %.
I do think increased incentives will get more realtor interest and maybe showings, but it will not overcome an overpriced house.
As a buyer in that range, a $10k drop wouldn't engage my interest. It's too small of a drop fro me to assume the seller is really seriously looking to move the house. I broaden my price range above what I am willing to pay so that I get a good feel for the whole market and am aware of homes that may drop to a price that suits me. I would be aware of your house already and would know how long it was on the market for so you wouldn't suddenly drop into my field of vision.
What's the thoughts on hypothetically
Home being listed drop home by 10,000 or offer a 10,000 realtor incentive (ontop of the normal 3 percent to buyers agents?)
Curious on your opinion which works better?
400+ price range.
Thanks for your thoughts!
I recently sold my home. I dropped it $10k every 30 days until it sold. I lost $77k on that sale, but it was worth it to me, as I sold my home in 9 months to prepare for an out-of-state move to TX soon. My neighbors' homes are still on the market (and were on the market long before mine was). It's all about how agressive you want to be, and how low you're willing to go.
I agree with this. Certainly I wouldn't listen to buyers or their agents for sure. No one here can tell what your home price shoud be in your market. That is what your agnet should be advising on.I'd Ignore low ballers in market has we recently sold a home and there are plenty of those around.
What's the thoughts on hypothetically
Home being listed drop home by 10,000 or offer a 10,000 realtor incentive (ontop of the normal 3 percent to buyers agents?)
Curious on your opinion which works better?
400+ price range.
Thanks for your thoughts!
Pricing your house correctly to begin with is what works best
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