About Baltimore County, MD

Which Incentive Is Better: $10K to the Agent or $10K to the Buyer?

Let's assume for the sake of discussion that there is a house listed for $200,000 and that the offered commission to cooperating brokers is 3% of the purchase price.

Other incentives for selling the house aside, such as lowering the price, improving the property, staging the home, and so on, let's focus on two particular incentives.

The first incentive is to offer, beyond the 3% commission, a bonus to the selling agent of $10,000 for a settled transaction.

The alternative incentive is to offer $10,000 in closing assistance for the buyer of the property.

Which one is more likely to lead to a faster sale of the property?

There are agents who look for bonuses and there are agents who try not to show properties if the commission is less than 2.5% to 3.0%. However, most agents who are working with buyers are, also, the representative agent of that buyer, and, hence, should be looking out for the interests of the buyer and not themselves. Additionally, in a slow market, which is when an incentive may be needed, many agents are happy just to get a sale regardless of the commission. On the other hand, in a slow market, every additional dollar is very important.

In the alternative, it is the buyer who will be making a decision to purchase a house or not purchase a house. The $10,000 bonus to the agent does nothing to make them more apt to buy any particular house, while $10,000 towards their costs directly impacts them. Most buyers when searching for a house are looking for a house that meets all of their search criteria, including a certain price range, but generally they do not look for house listings which state that closing assistance will be given. Their thinking is that they will find the house of their liking in their price range first and then they will worry about negotiating closing assistance into the contract.

So, does one incentive work better than the other?

Loans, Loans, EVERYWHERE

"I heard no one can get loans. How is your business?" That was what I heard recently. I guess they didn't read my blog entitled "Rates are Crazy Low, but can I get a loan?

Here is my answer:

I am blessed.This has been a crazy time for me, good crazy! The Spring buying season is already in full swing, as long a a home is priced right and looks good, there are often multiple offers within days. As the flowers have already started to bloom, so has my business.

This is my activity for just the last 3 weeks:

In the last week I have had several buyers with accepted contracts, a few are even approved short sales.

I completed an FHA streamline refinance for the boyfriend of one of my pre-approved buyers looking for the right home.

I am getting referrals of qualified buyers for home purchases all over Maryland from both ActiveRain (Wahoo!) and non-ActiveRain Real Estate partners.

I have gotten calls from folks for both purchases and refinances based on my reviews on Zillow. "I love what I read and feel very comfortable talking to you about my situation".

I have gotten referrals from ActiveRain friends and partners for home purchases and for refinances for their friends and past clients. The referrals of clients is wonderful, the referral of friends and family is a huge honor!

I got two calls as a direct result of blogging on ActiveRain. "I just had to call someone known as the Maryland Mortgage Mama"

I am working on several VA IRRL (Interest Rate Reduction Loans) for past clients and friends.

I took a refinance loan application for a client. Her boyfriend sat in on the meeting. We are now reviewing his current conventional loan in Annapolis for a VA refinance.

I have just completed a loan for a client I met at another client's Christmas ornament exchange party. When I called the initial client to thank her for the referral, we discussed a potential refinace of her mortgage and she promised to send me more referrals.

I have completed an application for the purchase of a home for one of my Team In Training Teammates.

I completed an application for a refinance for a parent at my daughter's school.

I met a potential client at Dunkin Donuts on Saturday after my daughter Sydney and I struck up a friendly conversation with a lovely older couple at the next table. ("Mama, you are elder, they are elderly") I was grimey and certainly not dressed to impress, but we were open and helpful and they happened to know my step-mom. He also happens to own two houses just 6 houses apart. He has not lived in one for 6 years although much of his "stuff" is there. He told me that it's getting expensive to have two houses and he really should sell it. I handed him a card and said, "When you are ready, I have some fabulous agents I can refer to you."

Just tonight, I met a potential client at a Lamb of God School fundraiser at Panera Bread. I complimented another customer (not there for the fundraiser) on her outfit (Red really was a fabulous color on her). I was wearing my Mortgage Mama pin. She asked about Interest rates and told me she has a 7% interest rate on her current mortgage and was wondering if it would be a good time to refinance. Needless to say, I handed her my card.

I get my business from many places. I put myself out there. I network. I stay in contact with my clients and referral partners. I let folks know what I do, sometimes overtly, sometimes passively. My brother and I offer competitive rates and fees, while offering full mortgage reviews to ensure folks are in the right loan. We take care of our clients and I truly love what I do and I am blessed.

"I heard the market tanked and no one can buy houses." What is your answer? Where are you getting your business?

Loans, Loans, EVERYWHERE

Hill of Beans...Delicious at Mr. Chan in Pikesville!

Mr. Chan Restaurant is conveniently located at 1000 Reisterstown Rd. very close to this Brick Single Family Colonial ... 7014 Deerfield Rd. Pikesville, Md 21208

We went in for lunch and while deciding what dish to order, I noticed this Hill of Beans and the staff 'snapping' them. No question that green beans were going to be on my plate shortly.

Fresh, absolutely, crispy and delicious, the green beans were combined with tender white chicken in a spicy sauce. The finished dish looked almost as good as it tasted. I saved some for dinner because I knew this picture would make me hungry again!

Mr. Chan has an extensive vegetarian menu available. Give it a try. It worth a lot more than a...

Hill of Beans...Delicious at Mr. Chan in Pikesville

The Maryland Home & Garden Show Last two days...Saturday and Sunday !

The Maryland Home and Garden Show is an awesome time for future home buyers and sellers.

For those selling it's your one stop and shop for services that you might need to do before putting your house on the market.

For the future buyer it's the perfect place to find great deals and discounts on home improvements and upgrades, while talking to the actual contractors in person.

For everyone, it is a place to get ideas, meet gardeners, landscapers, designers and professionals in the industry.

This is the last weekend for the show and tickets can be purchased online at a discount.

The inside gardens are a preview of the coming warmer weather...you get to enjoy Spring a bit earlier.

The crafts are great and Sunday is the orchid show...not to be missed. Savings can be found by purchasing at the show.

Much the beautiful landscaping and gardens at 8930 Church Lane were the results of finding the perfect contractor at the largest indoor Maryland Home and Garden Show

The Maryland Homes & Garden show- March 9-11

Nothing to do this weekend? Head to the Maryland State Fairgrounds to the Annual Maryland Homes & Garden show.

Visit over 300 booths with everything from decks and patios to kitchens, baths, remodelers, spas, windows, additions, builders and many unique products you won’t find anywhere else. Many exhibitors will be offering show specials available only at the show.

This year there is a theme in the displays of "Books in Bloom". Be prepared to see beautiful gardens with creative interpretations of "The Lorax" or "Harry Potter" and more. Take your Baltimore County Library card for a discount at the door.

The Maryland Homes & Garden show- March 9-11

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If you are planning to move to the Central Marylandarea and you want a BUYERS AGENT that really knows the area and all that it has to offer, I can help. (Personal tours of the area included in the service)


If you are looking to successfully sell your Maryland home with a Realtor who will market your property with multiple resources, call me for an appointment.



These are the areas that I serve Buyers orSellers in the Metro Baltimore area : Howard County, Baltimore County, Baltimore City, Harford County, Anne Arundel County, Carroll County, Montgomery County or Prince Georges County . If you would like more information please call me, Ellie McIntire at 443-418-7668or e-mail EllieMcIntire@MRIS.com

Ellie McIntire

The McIntire Team Real Estate Services.

Keller Williams Realty Centre

443. 418 7668 (cell)

443.766 1768 (O)

443.766 1769 (E-Fax)

E-mail: EllieMcintire@MRIS.com

www.EllieMcIntire.com

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