As a real estate agent, what should I include in my bid?

Great bids include a great description of why you are the best fit to sell the home and a competitive offer.

When a real estate agent bids on a listing the home seller is presented with: 

💰 Bid Amount - the amount that the agent is willing to pay upfront to represent the listing. The bid amount usually falls between 10-40% of the agent's eligible commission. For example, a winning bid on a $100,000 house at 5% commission would range between $500 and $2,000. Every listing is different and bid amounts relate to property condition, market conditions, and competition in a market. 

🗓 Term - the length of time the agent wants to represent the listing. Shorter listing terms are usually a great sign that the real estate agent is confident they can sell the listing or has a buyer in mind. 

Commission Percentage - the proposed commission amount that the agent will take on the listing. This will be the total commission split between the seller and buyer's agent. 

📖 Bid Description - a description of the marketing plan and real estate agent presenting the bid. 

Great bids include great descriptions. Descriptions can include things like:

  • How many homes you have sold in the area and why you are a great fit for that area
  • If you are out of area, why you are bidding in that area and how you plan to market the listing if it is outside of your sphere 
  • A link to your website or a video introduction
  • Anything else to help you stand out in the crowd. A personal touch goes a long way!