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Slowing Sales

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Real Estate Agent with Frank Rubi Real Estate

I recently lost out on a FSBO I had been working for some time.  I found out the realtor had offered a cut rate commission.  That's when I realized that this is what the owner wanted the whole time.  Seems he never caught or bought the expense I had just to market his home.  He didn't want to hear he was to high priced to begin with just what was I going to cost him. 

the home hasn't sold as of today and I don't know if it will but I worry about the precedent this agent is creating in the area.  In the future is veveryone going to cut their commission.  Is that what it's going to take.  I think you are hurting not only yourself but every realtor in the business.  we have to make a living and while doing that we need to show our clients that we work hard for it.  Too many clients think we just work a couple of hours a day and make handsome livings. This is our fault and we need to impress on our clients what we do and can do for them.

Thanks

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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Thank you John.  It IS our fault.  Buying listings with high prices is the #1 cause of our inventory.  Agents who get these listings will just lose lots and lots of money on them.

 

May 27, 2007 08:52 AM
Joan Snodgrass
Midamerica Referral Network - Kimberling City, MO
Yes John, we need to attempt to educate, but I think Lenn had a term for those who take overpriced listings, Predatory Listings.  I guess we see it in every market.
May 27, 2007 09:12 AM
Laurie Mindnich
Centennial, CO

John- while I understand your frustration at the flexibilty within the real estate community , it's important to realize that the typical FSBO is not going to be the ideal client.  They have made their assessment of the real estate community known by listing on their own, and at such time as they determine that perhaps they need help, it's logical to assume that they may try methods that save them money.  Doesn't matter- no one is going to make anything until the seller decides to work with the market.  That old nothing from nothing is nothing...

May 27, 2007 09:31 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
In the absence of understanding value,  cost is the only thing by which to judge.  We have to do a better job of selling the VALUE we offer, not the COST of our services.
Jun 01, 2007 03:45 PM