We’ve decided to leave the identity of this property out of this post, because it’s really the “pitch” that caught our eye:
How would you like to be rewarded with an extra $5,000!
AGENTS: Don’t miss this opportunity – sell this fantastic designer-renovated apartment and we’ll reward you with a selling bonus of $5,000!! It’s this simple: close escrow before Sept. 1, 2010, and the $5,000 bonus is yours! Close escrow before July 15, 2010 and we’ll throw in a new i-pad as well!
Here’s additional incentive to show the home: we’ll include your name in a monthly drawing for a free bottle of vintage reserve premium wine from Windsor Vineyards just for previewing the home (even at Broker’s Open) as well as for each time you show the property. The more you show it, the greater the chance of winning this premium wine and, even more, taking home an extra $5,000 selling bonus!
Very chic! This luxurious, renovated 1 Bedroom, 1.5 Bath apartment HAS IT ALL! Picturesque views to the north of SF Bay, Aquatic Park, Alcatraz, Angel Island & North Bay PLUS big City views – think Blue Angels & fireworks! This is one of San Francisco’s most prestigious full-service co-ops (doorman, resident manager, etc)! Designer-renovated open kitchen, spa-like baths & superb finishes throughout (mahogany stained oak floors, leather accent walls, integrated multi-media system, motorized shades & MUCH MORE)! Best in the building.
Picture us sitting on the lanai in Hawaii, reading a book on our new iPad, and sipping some “vintage reserve premium wine”. Anyone looking for a chic 1 bedroom?
These undisclosed incentives should be banned. I’m all for incentives to get a property moved, but if my buyer agent did this behind my back without disclosing it to me I would be beyond pissed. I consider it highly unethical if not disclosed BEFORE showing me the property. Full Stop.
I couldn’t agree more. If my agent were to receive a $5k incentive, I as a buyer would expect the $5k to be credited to me as a purchase price reduction. If my agent were to receive this kind of incentive and not disclose it to me, I would sue the agent for a breach of fiduciary duty, and I would sue the seller as well for tortious interference with my agent’s fiduciary duty (not sure if I would win on the 2nd suit).
Not sure you’d win on the first one either w/o a buyer agent contract in place.
are these kind of kickbacks common? I’d like to do an article on them if they are.
Not necessarily a “kickback” per se…more of an incentive. Common? More and more.
The Fontana’s a tough sell these days