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While performance-based commission structure is nothing new to the industry, one South-Australian agent managed to score a Porsche after smashing her vendor’s expectations.
After selling two properties for a local couple a few years, Heather Montemayor of Ray White Semaphore said they approached her to sell a third property.
The last two properties were sold within a week of listing, so when the couple moved to Queensland for work, the vendors approached Montemayor with a challenge.
"They called me up and said 'no pressure, but we need this sold in a week - you've done it before, you can do it again'," Ms Montemayor told Real Estate Business.
Having seen the Porsche on her past visits, Ms Montemayor jokingly asked if she could have it as an incentive if she could sell within the week.
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"His wife nearly died when he said it, but he said if I got asking price and within the week that the car was mine. He even offered to put it in writing, but we ended up just shaking on it."
Heather said she was excited but not fazed and immediately got to work.
The property was listed on a Saturday in February and had 20 interested parties through the first inspection.
Following the inspection seven offers were made.
According to Ms Montemayor, one particular British couple loved the property and offered a price that more than suited the vendors.
48 hours later the home was sold for $527,500, and the Porsche was Heather’s.
With only three previous owners, Ms Montemayor named the Porsche “Chardonnay” and since settling last week has been enjoying driving around Semaphore.
Earlier this month, top agent in Sydney’s Sutherland Shire Ivan Lampret from Gibson Partners suggested agents use a performance-based commission structure, although he may not have had something like this in mind.
“If they want to know about rates up front, and are telling me what other agents are offering, then I’ll suggest doing an incentive-based agreement.
“I’ll say, ‘I think I’m going to get $1 million in this certain amount of time, if I don’t I’ll match the other agent’.”
