What is a real estate buyer cash bonus asked one buyer to me the other day.
Well how do you explain something that is so revolutionary and yet so simple.
A buyer cash bonus, at least the buyer cash bonus that we offer, is based on someone doing work and then getting a split of the pay.
I told you it was simple.
This is what you do to make money now, huh? When you are a buyer you have to make the decision on what you want to see, what you want to buy and ultimately what you are going to pay for the house.
So, a buyer cash bonus, again how we do it, is rewarded when you help us determine what you want to see in person (closer than a drive-by).
We determine how much of our commission we will pay you based on how many homes we take you too.
When you narrow the houses down and take us only to houses that you are serious about, we spend less time with you and therefore are willing to give you more of our commission.
After all, we can't make these decisions for you.
You ultimately decide what type of home you are looking for and what appeals to you further after you drive through the neighborhood and see the house in person.
This process of the buyer doing what they would be doing anyway lessens the amount of time spent with one buyer and allows us to work with more buyers at the same time.
We give our buyers our more advanced tools so that they can search for houses and even be notified of houses immediately as they come on the market or fall into the price range of their customized search.
Buyers now back that up by doing their own demographic search and tax search as well as searching comparable properties so that they know all about the house and the neighborhoods they are interested in before they ask us to go along with them to see them in person.
Then, we see the house with the buyer and give them our thoughts.
If the buyer wants to proceed to write an offer, that is where we take over as normal.
But a funny thing happened along the way to giving our buyers over $3 million in buyer cash bonuses (so far through September 2008), we actually acquired skills far superior to our old ones when it comes to contract negotiation.
Because we were doing far more volume, we have far more experience and in real estate, more than any other profession, experience truly equates to talent.
So instead of working with 12 clients per year, we are each selling over twice that many houses, because we are freed up to work with more clients.
Like anything, what makes you good at what you do is Practice! Practice! Practice!