selling condo for 200K. to get more activity should i drop to 195k or up commission by 2k and drop price by 3k

Answer 1

Realtors must have invented that crap about higher commission. Paying your agent more will not bring more buyers. A lower price might.

Answer 2

In the Las Vegas market, I have seen the Realtor commission boost work very well. With a slowing market, the Real Estate agents are starving and every little bonus will motivate them. They will show your home with the bonus before they show others.

Also, instead of dropping the price, offer to pay closing costs and/or buy the rate down for the buyers. That will help potential buyers get into the place with less cash and afford the payment due to a lower interest rate. Buyers love incentives.

That also helps keep the selling values up in the area. If you just drop the price, area values decline and actually slows overall sales because buyers will just keep waiting for another price drop.

Answer 3

Your realtor should have provided you with comparables which means the price other condos like yours have sold for in your complex. The most important factir in selling your real estate is to not overprice it in the first place. If you are offering it at the fair market value and still have not had any action, find out how your RE agent is marketing the property. He/she should be holding open houses and putting out flyers and mailers to your neighbors. The commission paid should be what he standard in your area is offering. 5% is the national average. Feel free to contact me at dparks20032002@yahoo for more info if needed. :)

Answer 4

Drop price is better. Seller wants better deal now, not a more pushy agent.

Besides, after you up the commission, and the condo is still not sold, it is harder to lower the commission again.

Answer 5

We don't know your particular market, situation or comps. Talk to your REALTOR about what to do.