Bonus to the Buyer agent if on Deposit by XX/XX/XX~Does it work?

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Real Estate Agent with RE/MAX Professional Associates

Bonus to the Buyer agent if on Deposit by  XX/XX/XX~Does it work?

I often brainstorm out of the box marketing ideas with my agents to help move properties.  I have always come to the,” $XXXX bonus to buyer agent if on deposit by XX/XX/XX.”  In the past I have always leaned toward this is a worth while marketing technique.buyer agent bonus

Recently I am questioning my thought process.  I had an agent ask me if we needed to pay on a bonus that was offered if the agent didn’t notice.  This has made me rethink if this works at all!!!  There are many agents that don’t look at the commission compensation, what would make them look at bonuses offered? 

 I think in today’s market, the buyer often directs the houses they want to see.  They have such easy access to Realtor.com, truilia, zillow and more. We set them up to get auto emails that match their search criteria like number of bedrooms, towns, price, bathrooms, etc.   They have done a drive by, and searched public records.  Wouldn’t this actually support the argument that the bonuses would work.  Wouldn’t the buyer’s agent work harder for more money?

Is it all about the marketing of the bonus?

 
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Topic:
Real Estate Best Practices
Groups:
Marketing 101
More Referrals: Strategies & Tips on Getting More Referrals
Online Marketing Help Center
Posts to Localism
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Tags:
zillow
truilia
realtor
crawford realty team
for sale by pam crawford
home for sale

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Rainmaker
112,714
Pam Crawford
Owner-RE/MAX Prof. Assoc.,MBA, CDPE, CRS, ABR
RE/MAX Professional Associates

Great response everyone.  It is nice to see the priority is with what is in the best interest of the clients, and not the agent.

August 11, 2012 05:49 PM
Rainmaker
634,085
Evelyn Kennedy
Alameda, Real Estate, Alameda, CA
Gallagher & Lindsey, Alameda, California

Pam:

In our current market that strategy is not necessary.  We have very low inventory and house that are in decent condition and are priced right sell right away, sometimes with multiple offer.  I have seen that strategy used in the past and sometimes it works and sometimes it doesn't.

August 11, 2012 09:29 PM
Ambassador
1,516,891
Christine Donovan
Broker/Attorney 800-610-7253 DRE01267479 - Costa M
Donovan Blatt Realty
Pam - Maybe the special goes to the buyer who notices it for closing costs?
August 11, 2012 09:55 PM
Rainer
148,191
Jayne Anderson
Coldwell Banker Sloane Realty

Hi Pam,

After climbing 100's and 100's of stairs yesterday, showing beach homes to out of state buyers, when I read your statement "Wouldn’t the buyer’s agent work harder for more money?" - I smiled. The buyers and I worked hard yesterday in 90 degree heat and if any "bonus" was offered, it would go to reduce the list price. We worked hard yesterday and a lot was accomplished; but is was not driven by the thought of a "bonus".

Continued success!

August 12, 2012 03:11 AM
Rainmaker
93,352
Dan Falco
Assist 2 Sell Full Service Discount Broker
Assist-2-Sell Buyers and Sellers Advantage

Pam - I think a competitive buyer agent commission and correct pricing is all that is needed, especially in this market.

August 13, 2012 01:33 PM
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Rainmaker
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Pam Crawford

Owner-RE/MAX Prof. Assoc.,MBA, CDPE, CRS, ABR
Free~What's my home worth?
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