For all press inquiries please contact Kelly Kreth, Kreth Communications, 201 417 8691, KellyKreth@hotmail.com
Should Agents Be Given Extra Perks to Sell Homes?
The hope is that such incentives will get real-estate agents to favor certain homes — critical in markets flooded with unsold properties.
One builder, for example, recently offered a $5,000 American Express gift card to agents in exchange for a buyer who signed a contract on a Long Island City, N.Y., condominium, according to Noah Freedman, a principal with the brokerage firm Bond New York Real Estate, who is quoted in Ms. Hoak’s story.
Ms. Hoak notes that agents are not obligated to disclose perks and that such incentives won’t necessarily speed a sale. “You can’t make someone buy something because you’re going to get an AmEx card,” Mr. Freedman says in the article.
Readers: do you think offering incentives to real-estate agents can speed a sale? Are such incentives necessary? Is offering such perks ethical, and should agents be required to disclose such bonuses to prospective home buyers? — Lauren Baier Kim