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45 Comments on NO. You really didn't just ask that, did you?
Like some of the other agents here have already said, my guess is that he went for the lower commission bait. I run into that here sometimes as well. If they can't see our value now, they likely will later (as this seller already has...).
I'm confused.... why would MR.BUYER want a link to your website?
But Brand X is going to get him more money.... wink, wink. you can read my sarcasm I hope.
If the other agency consistently offers a low buyer agency commission (BAC), they must simply be a discount brokerage.
In our MLS, we never know how much the total commission percentage is - or, thereby, how much listing side commission is being charged, so I'm not sure how you know he's keeping a disproportional amount for himself.
Do your MLS computer systems allow you to search and print out the BAC commission amount?
In our MLS, BAC is a search-able and printable parameter. With that system, I can - and usually do - hand the seller a printout showing all the homes similar to the subject property and listing the BAC being offered for every one. I then let the sellers choose how much they want "to offer the agency bringing the buyer".
Most decide to meet the top BAC. Some choose to be a half percent lower. In doing so they will usually not be alone. (But they will clearly have lots less company than they would have in this market two years ago.)
They might be inclined to offer less than that, but they can clearly see that would put them at a serious competitive disadvantage.
I leave that BAC up to them. Whatever way they chose will be fine with me. If we are on the market for a while, I can always offer them the opportunity to increase that BAC.
BTW: This way, sellers always know that they are paying me something less than the full percentage rate they are being charged.
So, why do YOU think the seller went with the other agency?
Debbie_
Please write a follow up post to this one. I am dying to know the rest of the story. I hope there is a great turn of events and the seller comes back to his senses.
Brian Rugg
Most times people get what they asked or paid for. This seller will probably get what he asked for! ;-)
Good post Debbie!
Some home sellers just don't get it, do they?
Ty
I can soooo relate to this.
I just lost a listing to an agent/broker in a one man office. He also owns three businesses in the area that are unrelated to real estate...one being a busy restaurant. How much time do you suppose this agent devotes to selling residential real estate vs myself who works real estate full time? Not to mention, that our office puts listings on over 35 websites...something I know the other agent doesn't do...nor do I imagine he has time to do.
People just don't get it!
Sounds like you have some form of communication with him. Next time he calls, ASK HIM!
There are always areas we can tweak ourselves on.
Sorry, everyone - I have been going crazy with Alaska's summer!
John Thomas - I suppose he may have had a connection, but a friend he trusted recommended me.
Dale Weir, Jeremy Wrenn and Donna Galinsky - The commission rate was the same. I matched it.
Rob Arnold - The MLS is based hundreds of miles away. We have the Alaska MLS (mostly the interior) and Southeast Alaska MLS - the one based in Juneau. It's still about 100 miles from the town. I do have a field representative in this community even though I'm in Juneau.
Gregg Schoh - The list price was based upon an appraisal ordered by the seller. Unfortunately that complicates things with these rural and remote properties but that's another blog.
Monica Hess - All contact has been over the internet and telephone but I will keep your offer in mind.
Marcy Moyer - Quite the story - takes all kinds!
I have started using Google to my advantage in listing appointments. I print out a couple of search terms for google which work for their home, showing how I am at the top of page one, then tell them to also Google me, then Google any other agents they interview to see who's websites are really performing as they should be. Sellers are amazed, and it makes the sell easier in a way.
We meet all kinds of people in this business! Sorry you lost the listing.
tell him to cancel and list with u
Hey, everyone - I'm not ignoring you. Summers are short in Alaska and it's not uncommon to work until it gets dark. Just a few clarifications -
This was NOT a discount broker. He doesn't discount the commission - he puts in a paltry 1% co-op and keeps the rest for himself. At one point this other company dominated the community market. I have an agent in that town now and they no longer have a monopoly.
The seller continues to call, write and ask questions. He has admitted his error and says if the property does not sell then he will list with us. I am not going to encourage him to cancel his current contract and list with our office. I think that is a poor decision in the long term. We all have to continue to work together long after our current clients have moved on with their lives.
Hey, everyone - I'm not ignoring you. Summers are short in Alaska and it's not uncommon to work until it gets dark. Just a few clarifications -
This was NOT a discount broker. He doesn't discount the commission - he puts in a paltry 1% co-op and keeps the rest for himself. At one point this other company dominated the community market. I have an agent in that town now and they no longer have a monopoly.
The seller continues to call, write and ask questions. He has admitted his error and says if the property does not sell then he will list with us. I am not going to encourage him to cancel his current contract and list with our office. I think that is a poor decision in the long term. We all have to continue to work together long after our current clients have moved on with their lives.
Your marketing program ROCKS! Unfortunately Mr Seller gave the listing someone else, which I still did not get it after that many posts why he gave it to someone else? Was it his relative or very close friend? This is the only reason I can think of.
I really like the idea of putting a link and asking 3% very creative.
Most of the time Sellers do not understand what we are doing, but I feel that it is my job to explain them my Dallas Homes For Sale Marketing Systems however not every seller has a big knowledge of google system or other marketing features.
Hope you will get many more listings in your area!
Wow - some people just aren't too bright. Maybe it's better to not work with someone like this, even at the expense of a commission. Sounds like this seller may be more trouble than it's worth!
Must have been the sellers auntie, blood is thick. Brush it off and move on.