Probably one of the biggest fears an agent will face is when a seller asks you to list their home for less than full commission. For most agents the fist instinct is to give in. After all, Isn't a 5% listing just as good as a 6% listing? At least you have the listing.
Consider this: On an average sales price of $500,000 every time you give into a 5% commission you leave $5,000 on the table. If you list twenty home in a year you have allowed $100,000 to slip away. Are you willing to learn a new technique for $100,000?
Here's what you don't do: Don't say "No, any other questions", Don't say "No". Don't start your speech about what you do and how much money spend to market a home, the sellers don't care.
Here's what you do: When a seller asks you if you will do the listing for 5% instead of 6% the first thing you must do is separate commission from net income. The seller is not asking for less commission because he wants to pay you less, he is asking for less commission because he wants to net more. When you separate the two, getting the full 6% is a breeze.
Example:
Seller: Will you do the listing at 5%?
Agent: I will never allow commission to stand in the way of us doing business, I have to ask, why would you want to market your home less than six percent?
Seller: Because I need to put as much money down on my next purchase as possible.
Agent: So it's not the commission your concerned about its the amount you are going to net?
Seller: Yes
The key is to separate the commission from net. Once this is done, you can refer back to your marketing plan. How your ability to expose more buyers to their home will actually net them more money. For example:
Say their home is marketed with three auction houses. Auction house number one attracts 300 buyers. Auction house number two has 500 buyers and Auction house number three has 1000 buyers. Which auction house will net the most money for the seller? Auction house number three.
The law of marketing: Exposure Created Demand, Demand creates higher pricing, Higher pricing means a higher net for your seller. If you presented your listing presentation the way I teach it, bringing the seller to understand he needs buyers, and explaining what you do to expose their homes to buyers, YOU WILL GET 6%.
If you want to learn how to get 7% and 8% listings go to www.Brettnoel.comand let me know you want to learn how to get 7% and 8% listings. I will show you how you use MLS printouts to guarantee the highest commission.
Brett Noel / Success Coach / Coaching agents to become millionaires
Great technique!