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Saturday, 14 December 2019
Agent Resource Center
Agent Resource Center

A Faster Home Sale: Commission

Written by Posted On Tuesday, 21 August 2018 12:00

Commission Strategies For A Faster Home Sale

 

When someone looks to buy a home, they likely will intend on living in the place for a very long time. While you may intend on living in a property for decades, there likely will come a time when you may decide to sell the home.

 

When looking to sell a home, you may be overwhelmed by the amount of costs that can go into it. One area in which someone may try to avoid certain costs is through reduced real estate sales commissions.  

 

While you may try to cut back on costs by either selling your home without an agent, or with an agent that comes with a reduced commission, this could end up being a big mistake. There are several reasons why selling a home and paying a higher commission could result in a higher sales price and a faster sale for you.  

 

Better Agent Selection

One of the advantages of paying a higher commission to a real estate agent is that you will have a better selection of Realtors to choose from.

 

Some of the top Realtors in your area today are likely only willing to take on clients that are willing to pay a higher commission fee. While these Realtors do come with a higher expense, it could be a premium that is worth paying.

 

Local Realtors that have a proven track record and have been in your area for awhile have likely built up substantial relationships with other real estate professionals.

 

They also likely have the skill set necessary to sell any property quickly. Even though you are going to have to pay a higher fee, hiring and experienced Realtor in your area could prove to be worth the investment.  

 

Selling Agent Motivation

Another reason why it can be a good idea to pay more in real estate commissions than normal is that you could get more motivation out of your selling agent.

 

All agents have only a limited amount of time that they can dedicate to all of their listings. Due to the fact that they will get paid more for a deal that has a higher listing commission, and agent likely will be more motivated to sell your property.

 

This means that they will be willing to spend more time dedicated to your property and will put forth more effort in trying to find outside buyers. This could lead to a direct increase in the amount of potential buyers and will likely end up resulting in a faster sales time.  

 

Buyers Agent Motivation

While it is good that you will have a real estate agent on the selling side that will be motivated, when you pay a higher commission you will also get more motivation out of buyer's agents.

 

When you offer a higher commission to sell a property, you likely will the offering a higher commission that will be split between the agents that represent the buyer of the property and the seller of the property. When someone is looking to buy a home, they will likely take the advice of their agent.

 

At the same time, an agent that will potentially earn a higher commission by selling your property will be far more likely to push your home to one of their customers. This will lead to a higher likelihood that one of their clients will want to buy your home.  

 

More Marketing Budget

When you are looking to sell a property, finding the right way to market the property is extremely important. Today, there are many different strategies that you can follow to market your home.

 

Some of the best ways that you can market your property today can include taking expert photos, having a quality virtual tour completed and posted online, hosting a variety of open houses and informational sessions, and a wide variety of other marketing services.  

 

Unfortunately, many people will find that these can be expensive and many Realtors do not want to pay for all of these services because the benefit does not outweigh the cost.

 

However, if you are willing to pay a higher sales commission, your real estate agent will likely be willing to pay for more of these marketing services. This will help your property to stand out in the open marketplace.  

 

Declining Commission Schedule

When you are looking to sell your property and pay a higher commission, you could also consider paying a commission that is based on the final sales price and amount of time that the property is listed for sale.

 

To encourage your real estate professional to sell the property quickly, you could offer them a higher percentage commission if they are able to hit certain sale thresholds and timeline deadlines. This could help them to be motivated to try to sell your property for the highest price possible and to have it sold as quickly as they can.

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Dean Cacioppo

Dean Cacioppo Credentials

Dean has worked as a real estate agent, real estate instructor and has years of experience working on the technology side for major Real Estate Brokers, Agents and MLS’s.  Dean has sat on the Board of Directors for multiple MLS’s including being elected to President.  Years of serving on a number of MLS Committees for multiple boards, served on the Strategic Planning Committee for Louisiana REALTORS and participated in many task forces and committees for the benefit of all Real Estate Agents in Louisiana.

Work in Real Estate Technology

Dean has provided live training on technology, direct IT and Technological Support to thousands of Real Estate Agents for over 16 years.  With years of being the go-to guy on technology strategy, training and support for Brokers and MLS’s across the country, you can now have direct access to Dean for your personal technology needs. 

Real Estate is extremely competitive on the web and we specialize in Real Estate Websites and Digitial Marketing for Realtors, Search Engine Optimization for Real Estate and Social Media Marketing for Real Estate.  Please don’t be confused, we are happy to work in all business verticals and have quite a bit of experience in a variety of markets.

For 2019, we have seen an expoetional increase in the ability to generate leads from local SEO for the real estate industry.  This has Google My Business taking a larger share of buyers and sellers looking for real estate online.  We understand that there is a real estate sales cycle that determines how "ready to act" the lead is.  Leads that are aquired for search phrases such as "Realtor around me" or "top realtor in my city" have a much better chance of converting than the indevidual searching for a generic real estate term.  

 

https://deanknows.com
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