Dropping price and waiting for offers?

[MadManofBethesda]

Originally Posted by SouthernCAGal

Thanks for the input! I had another Agent check and the MLS report showed that it was 4% Seller's Agent and 2% Buyers Agent. I never would have agreed to this!! It's unfair, very true! Thanks again!

Was this info not in your listing agreement? The proposed split has always been in the ones that I've signed, but perhaps it varies by region.

[SouthernCAGal]

Originally Posted by MadManofBethesda

Was this info not in your listing agreement? The proposed split has always been in the ones that I've signed, but perhaps it varies by region.

Hello,

No, it only showed the 6% I would be paying to my Broker, not anything showing how that would be split up. Wish it had because I wouldn't have agreed to it.

[MovedfromFL]

That split of 4% to seller's agent and 2% to buyer's agent is NUTS. It's a wonder that any buyer's agents are even showing your house.

One agent that we interviewed suggested we offer EXTRA to the buyer's agents as an incentive for them to show our house. (like an extra 1 to 1.5% over the usual 3% split) He said agents look at a listing and if they see that extra payment, they will show those places first. The other agent we interviewed said that was not the case and she would take buyers to homes based on what they want, not how much she would be paid. I'm not sure which to believe?

Heck, maybe it's time for us to offer 4% to the buyer's agent and just prepare for them to throw buyers at our house until one sticks!

[mortimer]

Originally Posted by Brandon Hoffman

In my market the average is 5-6 months on the market.

What is the average time for homes that don't change their price?

That is, a home might list for $x at first, but after a couple of
months, they drop it 5% and a couple more, 10% more.

I would assume that houses that are priced "right" at the
start don't need to be price-adjusted like the above example
and sell in the usual 3-4 months.

Priced "right" is when you match/are lower than CMA data
for recent sales and not recent listings.