One of the toughest conversations for a real estate agent is the one where we talk to our seller prospects about how we're paid. Oh, some of us are more comfortable with it than others, but even the most experienced, seemingly confident agents struggle with the topic at times. And newer agents almost always dread that part of the listing interview.
And there are perfectly good reasons it can be a tough conversation! After all, real estate commissions are usually the most significant expense in selling a home and many sellers are understandably a bit cynical that those high fees are warranted. Sellers also wonder how we can claim to represent their best interests when our paycheck is contingent upon and determined by the outcome of the transaction.
Some agents question their own value, or at least, don't know quite how to communicate their value to a seller. Many find themselves competing with discounters and minimum servicers, and wonder how to prove that "you get what you pay for." Or, conversely, maybe you're a discounter or minimum servicer (and there's nothing wrong with that) and you're tired of being dismissed by the "full-price" crowd as the scourge of the industry.
And how about when your friends and family ask for a discount? How should you handle that? Should you explain to your seller how little of the total commission you actually end up with? Is it a good idea to offer a menu of services, or to charge for your services on an a la carte basis?
On Saturday morning, June 19th, Mollie Wasserman (author of "Ripping the Roof Off Real Estate") and I will answer as many of these questions as we can. And our answers might surprise you; in fact, I'm certain they will. But I'm also certain that you'll come away from this very special show with a much better grasp on your value as a real estate agent, and feel much more confident the next time you're sitting across from a seller prospect talking about your fee.
THE DETAILS
Date & Time: Saturday, June 19th at 11:30 am Eastern / 8:30 am Pacific
Duration: 60 - 90 minutes
Format: Teleseminar - you just need a computer and/or a telephone
Cost: *Freeeeeeeeee!
REGISTRATION
www.SellwithSoul.com/commissions
* It's free to attend the live show, but a recording will not be released publicly. You can purchase it after the show in my bookstore, or join Club SWS for $10/month.
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Tips & Inspirations to Generate Business from the Very Important People Who Know You
Lenn... that's one approach and is valid. But there are other scenarios where our commission-based structure gives sellers good reason to question our loyalties...
JA, I agree with Lenn. However I am excited about your seminar. If it is like the others I have listened to, I know I will learn something of value.
This is a good topic and I hope I can tune in and l;isten. I am amazed at how folks think it is ok to try to cut our imcome.
Where did Lenn's comment go?
Charlie & Tom - See ya Saturday!
Good topic. With the drop in real estate prices it is harder and harder to discount and make a go of it.
JA - This should be a hotly debated topic for sure. It always is!
I look forward to it - and all the different opinions! I don't have to agree with someone's point of view to learn from or even benefit from it...keeping an open mind is the key.
I am really going to try to tune in! I've never had to discount a commission, but with more and more agents doing it regularly, we need to stay well equipped with ways to handle it. Thanks, Jennifer!
Susan - Excellent point! ;-]
Shelley - If you haven't "had" to discount so far, you probably have the right attitude when you meet with sellers... and that will probably continue to be your reality!
Kevin - Not planning a debate, but I do think it'll be interesting! I've had enough debating for the week, I think.
Gene - I actually think a discount model can work, but we won't be talking about that much in this show...
Looking forward to the seminar. The best way to show what you are worth is to really add it up. Show the time you will spend and the expenses you will incur. So many people just think all we do is stick a sign in the yard. Be transparent, show them the real numbers and you may find it's an easier conversation.