Nashville Realtor Tosses Out Listing Commissions When Selling Homes
Monte Mohr is selling homes and waving his listing fee so he can lower the price and make his clients' homes the most competitive homes on the market.
Nashville, Tennessee (I-Newswire) December 13, 2012 - Realtors around the country are trying every incentive they can think of to acquire clients and help them sell their homes. But in Tennessee, one realtor has come up with an idea that is taking off.
Monte Mohr, real estate Broker with The Mohr Group at Realty Trust in Nashville, explains that his team will waive their normal listing fee (3%) to sell a home for anyone willing to purchase another home with their assistance. By waiving the listing fee, Mohr's clients can lower the asking price, making their homes the most competitive homes on the market, which many times helps them sell quickly. In other words, if you use them to purchase your next home, they will sell your current one for free.
"A few years ago I noticed people were having a hard time selling because they didn't have any equity in their homes," states Mr. Mohr. "I thought about what could I do to make a difference in this economy. So I decided to throw out all the costs that we would normally charge in a typical transaction if the clients would simply buy another home from us. I have to sell their home before I ever earn the right to help them buy another home. In addition to that, my listing agreement is a day-to-day agreement. Meaning I do not lock anyone in on a long term listing contract."
The commitment that Mr. Mohr asks for when his company goes to work for a client and sells their home for free is that the client lets The Mohr Group then assist them in purchasing their next home in the next 90 days after the closing on the initial home. What is great about this service is that the client doesn't pay anything because the seller of the next home typically offers a commission to the buyer's agent representing that transaction.
Mr. Mohr explains, "It's a tough time to sell right now. You've got to have somebody in your corner who's got their whole heart invested in your accomplishments and your goals. And if you wait for the market to get better before selling, you may get more for your home but you're going to pay more for the one that you're buying, even if you're downsizing. Not to mention the risk you take of not getting the current interest rates if you do not act now."
When asked about this very aggressive approach to winning business, Mr. Mohr commented that his company feels strongly that collectively they can make a difference as to how soon we get our economy and country back in the direction we all desire it to be.
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Published On:December 13, 2012
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