In the past had some success selling properties, offering above average co-op commission. Many years ago 3.5% Co-op was common in my area, these days it is rarely over 3% or under 2.5% And there is an added average of $250 ish, fee subtraction. calling that a .085% commission ding, so for all practical purposes the Co-op commission average hovers around 2.415%. I keep hearing more buyers are finding their own houses on line, and their RE agent is just someone with keys to the lock box? How much influence do agents have in the home selection process? If the agent had a great influence, maybe paying them a higher that average Co-op would motivate them more to see the good in your property and encourage their clients to purchase that high Co-op listing? If they have little influence, maybe 2.415% is paying em too much? Are they going to tell their clients they won't show your listing because your Co-Op is too low at 1.915%?
My gut tells me, many agents would show the property with the lower Co-op, and either through bias or intent, talk the listing down to their buyers. And paying .5% or 1% more on the Co-op commission would not be enough to matter. However make that Co-op 5% and than maybe more dollars matter?
Make it a 7% Co-op and now your cooking with gas?
Id suggest looking at what the coops on other propertiea close by are. You want to be in line with them. If you are lower than them, you will likely move slower. However being higher than them will not likely move you quicker.
Russell, thanks for your response!