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I had a client ask me if my fee was firm. I said no, I would be happy to charge more. We never discussed price after that. The value was there.
I am not able to see the video, can you help?
Cant speak for the realtor community but from the lender side, those clients aren't looking at a long term relationship….it is a single standalone transaction and they will opt for price virtually every time.
Hey Lisa – try this link https://www.youtube.com/watch?v=k8oE3fu8758
If that doesn't work, you may want to try visiting The National Real Estate Post from a different browser. Hope this helps!
I didn't learn anything that I didn't already know, but it does remind of 2 things I say sometimes "Experience shows that over 92% of the people that offer to cut their commisson….SHOULD cut their commission" and "If I can't protect my own money, how good of a job will I do to protect yours?" 🙂
Like any negotiation, you need to have a discussion. Sure, you can just say no but unless you clarify what is behind the "objection", you may lose the client. Anyone who says they NEVER negotiate the commission down is not a hero in my book. When asked, I typically find that sellers do not understand how the commission is split (some think that the listing agent gets it all) nor do they understand that buyers sign contracts with their agents for a specified fee that they expect the listing broker to pay (why pay "fair market" value for a house AND have to pull money out of your own pocket to pay your agent?) . When sellers learn that (a) what I a buyer's agent MUST compete with other listings AND (2) they see that lower commission usually result in a price reduction that exceeds what they "thought" they were saving, most sellers see that commission is more than a listing broker's "profit". And … I only get paid if I succeed!
My last show was March 2, 2016. Since that time I no longer get your show. I go back to the time when it was “Think Big Work Small”. Whay happened.
After 21 years in the Real Estate Business, I must pay Broker fees, Taxes, SSI , Advertizing, Office Expenses, Education,Membership Fees and Heath insurance, just to name a few of my expenses. Home prices have increased, Thats helps some but so have my expenses.Over the years I have seen the Cut Rate Brokers come and go. The sad thing is that these people leave giving the whole Real Estate Industry a bad name because of sub- standard service. Unfortunately they take a piece of the Real Estate Earnings with them.I love Real Estate and love working with my Clients but if I can not at least make a profit, I amnot afraid to will on any transaction where I have to work for nothing. Sometimes, we have to learn when it is time to fire a Client