many try to get listings to sign at 6%.
I try to sign them at 4% and offer all the things that others offer at the 6% rate. This way the other realtor can get 3% and make it more attractive to them to show. Also hopefully i get the seller to buy with me and get 3% obn the back-end automatically
Migs, I think trying to undercut the market is counter-productive and hurts all the realtors in the long run.
You could try what my brother-in-law does... he has his feelers out there, and anyone who refers a client from whom he gets a listing, or who buys through him gets a $500 referral bonus. Most of his business comes in off referrals. When he & my sister got married, theirs was one of the first houses that were built in the subdivision, and he really established himself in the community right from the start chairing committees and neighbourhood associations etc. Pretty much became the Welcome Wagon for all the new homeowners settling into the subdivision to the point where he pretty much owns it now. If there's a For-Sale sign on the lawn anywhere in his community, ...that DOESN'T have his name on it, ...chances are it's April 1st, and someone is trying to mess with him. He also guarantees to sell the home within 3 months, or he will buy it from the seller.
These sorts of incentives may be easier for him to offer, since he is the broker, and has the benefit of being able to leverage from all the realtors he employs, ...but it's something to consider.
Another venue you might consider is to hang around Russ Whitney informational seminars. You know the ones I'm referring to... that advertise on late night TV. These attract large numbers of people who want to invest in realestate. Obviously not everyone is qualified, ...but there will be those who are serious, and who follow through on the courses, and once done are just looking for properties to buy, as well as sell. Get yourself a few good investors, and they could keep you so busy with their portfolio of properties, ...you may not have either the time or the need to constantly scrounge up other clients.
