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How do you get the Buyers Agent Hungry to work for us?

Your strategy to get more Buyers Agents to show and sell?

Can you give me an example of how your Bonus created the sale?

Was this Bonus for the Buyers Agent Only? (or shared with the Listing Agent)

Critical Service: To motivate the Buyer's Agent to Show and Offer your home FIRST is a BIG WIN! ! You will be losing 50% of all your Top Offers without this service.

                                     
               
Buying Agent’s Bonuses /Performance Incentives Work Extremely Well!
At CoughlinTeam all my 1,000+ Sales have had a Buyers Agent Bonus which a big reason I have set so many top Sale Price records.

We pay The Buying Agent an additional 7% for a $7,000 Performance Bonus, if the Buyers Agent brings us an offer that's $100,000 higher than list price.

We pay The Buying Agent an additional $14,000 Performance Bonus, If they bring me an offer that's $200,000 over the list price,

Now this is what I call a Performance Incentive.

You don't receive any bonus for just showing the home and bringing in a low offer, but you do receive 7% over the list price.

I've had 3 or 4 properties sell for $500,000 to $1 million over the list price(200%), setting all-time sales records.

40 years, many Realtors hunger for my listings and show mine 1st knowing that they will get paid a bonus commission.

History: How Bonuses Started.

In 1982, it was a very slow market where interest rates had reached 22%, and no one was showing my listings. For every 100 homes for sale, there were only 5 buyers. I needed a way to attract all 5 Buyers Agents to my listings.

I came up with two ideas: Firstly, I realized that I couldn't list properties too high, or I would Lose all potential showings. Secondly, I introduced a Selling Agent Bonus of $1,000. As a result, I successfully attracted all the buyers and sold 83 properties in 1983, earning me the title of Rookie-Of-The-Year and placing me firmly in the top 1% of all agents.

I reevaluated the bonus system in 2011, which averaged about $10,000 per house to sell the home.

Today, homes are typically listed with a 7% commission on the first $100,000 and a lower rate on the remaining balance, depending on the services provided. However, if a buyer's agent brings us an offer that's ten thousand dollar higher, they receive a mere $115 extra. This isn't much of an incentive for the Buyers' Agent to work harder considering that $115 is less than the secretary’s extra admin costs to process a 2nd offer.

So in 2011, I decided to reverse the commissions for the Buyer’s Agent. Keep in mind that as your Listing Agent, I'm the one responsible for paying the Buyer’s Agent.

My Performance Incentive to the Buyer’s Agent is simple: if you bring me an offer that's $100,000 higher than the list price, I will pay you an additional 7% for a $7,000 Performance Bonus.

If you bring me an offer that's $200,000 over the list price, you will earn a $14,000 Performance Bonus. This is a Performance Incentive. You don't receive any bonus for just showing the home and bringing me a low offer, but as an incentive to work hard, you do receive 7% over the list price. As a result, I've had 3 or 4 properties sell for $500,000 to $1 million over the list price(200%), setting all-time sales records. Now for 40 years, many Realtors now look for my listings and show mine 1st.

 

 

 

              

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