Posted by: Roby Robertson | January 24, 2008

Lake Norman Real Estate: Another opinion on Seller Concessions

Lake Norman Area Real Estate. 

I believe that  “seller concessions” in today’s market, are viewed as reasonable and prudent. I believe that concessions do tend to elevate the “average” home on the market to the “let’s take a look at this one” category.We need to educate our seller’s by stating that there are types of loans that allow a percentage of the sale price to be used as cash concessions. So from a marketing perspective, this may not only be a smart approach to consider, but allowed.  Be sure to check with your trusted lenders on this approach.

Lastly, including a cash bonus to the selling agent really doesn’t ensure showing’s of a particular home. Here is why I believe this! If the purchaser doesn’t like a particular home or it’s location, no amount of bonus is going to give me some magic bulliet that will persuade  him or her to look at the home.  Also, buyers agents need to disclose the bonus to the buyer which has at times caused an unncessary dispute on whether it should be shared!  Sellers that are dead set on the idea of offering a bonus to the selling agent, might consider increasing the buyer side commission instead of stating a bonus.  This eliminates that conversation and still is an incentive.

The bottom line is that I believe we have the responsibility of educating our sellers by passing on every technique in our selling bag.  I also believe that sellers that do not get this kind of service need to look for a new more educated agent.

The source of this information was taken from notes from my BIC class as well as experience as a buyer and listing agent.

Contact Your Lake Norman Agent at 704 451 7051 for more information.

See Also

Creative Ways to Sell Your Home

A Letter to Lake Norman Home Sellers

Lake Norman Sellers, Before you drop that price

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