“Hi Gary, I’ve got another question if you have the time. Do you think a lot of buyer’s agents start their client’s search by commission? Like would they limit their search to say 3% and up and as a result they might never see my condo (which is offering 2.5%) in their search? If so, would increasing the commission to 4% grab a lot more attention do you think than dropping the price 10k (currently 275-295k)? Thanks.
***ANSWER:
Very few agents use the real estate fee as an actual search criterion. BUT, once they do their search, some agents will indeed look at the % offered. And, a home with a high fee will get more showings than one with a low fee.
My guess is that the additional $4,300 commission (from 2.5% to 4%) will be more effective than a $4,300 price reduction, but not the $10,000 reduction you mention.
Heres my suggestion, assuming your condo is priced close to market value:
If it doesnt already look like a model home, since youre willing to invest $10,000 in selling it, Id suggest you:
1. do the fee increase AND
2. make some inexpensive cosmetics (clean, paint, landscaping, etc.) AND
3. pay a professional homestager $500 to $5,000 to stage your condo and make it look like a model
By the way, if your condo is not priced close to market value, none of what were talking about will sell it. So be sure its priced right!
Selecting A San Diego Real Estate Broker
