The following was a comment posted by Linda Parker as a response to our contributor, Jim Watkins’ post, Down Sales Market? Think Outside the Box. As the comment carries weight on its own, we’ve decided to publish it as its own posting:
OMG! Higher commissions do get agent’s attention.
When most companies are trying to kills us with commissions right now lowering them to 2.75%, 2.25%, 1.5% that we have to split with the boss, increasing that commission will most certainly get our attention….believe me! We will add a house we have NO interest in to get a client in the door of a big commission….especially in a down market! Jim, you’re right….keep it up.
Here are some more ideas on how to get it sold:
(a few of my secrets…not going to give them all away).
As one of the top agents off and on at William Davis Realty over the years (over 400 agents now?), on listings, you need to go a little further if the competition is being stupid! And, this certainly sounds like your situation with all the reductions!
- I suggest you hire a niece or nephew to do a lemonade stand out front on weekends. Do an open house behind their set up at the same time. Neighbors happen to know people/relatives who want to live in the neighborhood!
- This one gets a ton of calls….put a sign (attached your sign – usually only allowed one sign in Dallas/Fort Worth in the yard for sales) offering a “free cruise” (get a free 3-day/2-night certificate from one of those time share companies) for the buyer if they buy your house.
- Go to the local supermarkets and WalMart and fill out those courtesy bulletin board cards…..
- Fax it to HR departments of local employers for relocation purposes…that’s what I do.
Again, these are some secrets from my full service listings, but you can do this stuff yourself…..it’s easy!
As you say………….think outside the box…..it will sell and be the ONLY ONE to sell on your street if you use your head!!!
Again, special thanks to Linda for her insight and advice!
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{ 1 comment… read it below or add one }
I agree with Lynda that higher commissions do attract attention. I believe unless you’re going to offer a commission that is significantly higher than the higher commission does not work. Here in Orlando, the typical commission offered to cooperating agents is 3%. I’ve tried offering 3.5% and 4% but with no increased activity. Once I began offering 5% and above, it did increase activity on my listing.
I’ve tried posting at the bulletin board at the local grocery store and Wal-Mart but with no success.
One thing I did not see on this post that I believe not too many agents are doing is listing syndication at portals such as point2homes, postlets, realinvent, etc. to get the property on as many search outlets.
Finally, the most effective way to increase traffic on your home is face to face. You gotta promote it among agents in person. Everyone knows sales are done face to face.