You’ll notice that my blog offers lots of home sale tips for Northern Virginia homeowners who are getting ready to sell their home. This article focuses on the use of buyer agent bonuses, and when they work and don’t work.
Home Sale Tips – What Exactly is a Buyer Agent Bonus?
When a home is professionally listed and sold through a real estate agent, a buyer agent’s commission is paid by the seller and listing agent, and the commission is advertised on the MLS. Generally speaking, the higher the buyer agent commission, the more effective it is in helping to market the home. The reason for this is that buyer agents typically show their clients a lot of homes on a regular basis, and when a home offers a higher buyer agent commission, this of course gives the agent extra motivation to help sell the property.
A buyer agent bonus is an extra incentive that is offered to the buyer agent for getting the home sold. Sometimes, this is advertised as an extra flat fee, say $1,500, and sometimes it’s offered as an extra percentage of the sales price (i.e. an advertised buyer agent commission of 4% instead of 3%).
Read Part 2 of my blog series, “Home Sale Tips: Buyer Agent Bonuses”
Email me at DarrenRobertsonHomes@gmail.com to request a complimentary market analysis of your home's value!