Yesterday alone I received 5 emails from Realtors offering incentives for the sale of their listings. One Broker sent out two separate emails and both listings are new construction. In both emails it was stated that the selling office would receive a 5% commission and each listing was priced $20,000 below a recent appraisal.
Today I receive an email that states the selling agent will receive a $5,000 selling bonus and the buyers will receive another $5,000 credit towards their closing costs or to use for improvements in a home.
Later today I receive a call from one of my sellers from California regarding a view lot he has listed with me. He asks me how the market is doing. I briefly mentioned that certain price ranges are tough and certain price ranges are still doing well. I also mentioned to him the emails I received offering the bonuses.
My seller then asked if he should offer a selling bonus as well. I informed him I would rather see him drop his price to a rock bottom price that he can afford rather than to offer selling bonuses. I feel that when there is an oversupply of homes or land in a market the buyers will look for the best home or best parcel of land for the money and no Realtor bonuses are going to make a difference.
Would a selling bonus or trip to Hawaii offered to the selling Broker in your market move real estate or would you feel the same as I that dropping the price until a property sells is the best move? As far as homes sales go I would rather see the seller put their money into staging a home than a Realtor bonus paid to me. A combination of a price reduction and home staging in my opinion is working more for the clients.
Native Idahoan and Boise Idaho Real Estate specialist serving Boise, Meridian Eagle, Nampa, Caldwell and the surrounding Treasure valley area of southwest Idaho. Specializing in residential, investment, land and commercial real estate. Search thousands of MLS listings at Boise Homes for sale and learn all about Idaho by visiting Search Idaho Homes