In today’s market, incentives like the Gold Medallion Program from Prudential Gary Greene, Realtors help draw extra attention to quality properties, which benefits buyers, sellers and real estate agents alike.
The Gold Medallion Program is a designation given to competitively priced homes that are fixed up to certain standards. For a fee, homeowners may enter their property to the program, and if the home qualifies, a Gold Medallion sticker is put on display, which motivates Realtors to generate more showings and close a deal faster since they have the chance to receive a large bonus.
After every 23rd sale, Prudential Gary Greene holds a drawing from the pooled Gold Medallion fees, and agents can win up to $5,000. Sharon Teusink, manager of the Prudential Gary Greene Champions office, explained that the 1 in 23 odds are “better than Vegas.”
“There are more houses on the market now than there are buyers,” Teusink explained. “There are a lot of listings, and this is one way to help top-notch homes stand out.”
“The program encourages agents to show the home and expose it to more prospective buyers, because they know it will be exceptional.”
The initiative, established in 1993 by Marilyn Eiland, partner with Prudential Gary Greene, provides sellers with an edge over builders, who often give bonuses to agents as an incentive.
“I have encouraged the selling agents to attend the drawings, and lots of times they have come away with winnings,” said Iona Alphonso, Realtor and marketing specialist. “Realtors get more marketing when in the program.”