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Today’s real estate market in Kamloops is very competitive. There are a number of homes for sale that are very similar in characteristics and also in price. There are a few factors that affect the sale of homes that are similar. Simple, obvious things such as curb appeal, interior design and upkeep, clutter, scents, accessability, etc, are all issues to be aware of when selling a home. There is one underlying, very important home selling technique that is often overlooked by sellers and ultimately puts their home at a significant disadvantage. This factor is the commission a seller offers the buyers’ agent (or Realtor representing a buyer) in order to bring a qualified buyer to purchase their home.
It is a fact that Realtors work with the most qualified buyers. These buyers have often already been pre-approved for a mortgage and are ready to make an offer on a property in the near future. By offering a less competitive commission to the buyers’ agent, you are not motivating Realtors to come bring their qualified buyers to your home and sell it. The the best way to describe it is, if you went to work for a month, and at the end of the month you were told you weren’t going to make 100% of your normally expected pay how would you feel? This is the sentiment out there in the market, especially now that buyers have so many homes to choose from. We are now seeing buyers agent selling bonuses and higher commission rates than have been seen over the past few years. Sellers are beginning to understand that money motivates. Homes that offer less commission to buyers agents are often overlooked. Unfortunately I don’t make the rules, I am just passing on this information for the seller’s benefit. Please don’t make this mistake.
If you are motivated to sell your home ensure you do the basic things such as maintaining an attractive curb appeal, keep your home neat and uncluttered, etc. More importantly if you are selling in the Kamloops real estate market, offer a competitive commission to the buyers’ agent, otherwise you are just hurting yourself financially in the long run!