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Cost Versus Worth: Real Estate Commissions or 10 Reasons Why a Great Agent Is Good For Your Bottom Line

By
Real Estate Broker/Owner with Charlemagne International Properties BRE# 01147470

Real estate commissions loom large in the eyes of most sellers.  I know, I sold six single family homes before I became a real estate agent.  I must admit back in my pre-agent days I questioned the value of paying an agent I rarely saw and seldom communicated with such a large portion of the profit from the sale.  Honestly, I do not even remember the name of five of my past agents.  It was not until I met Pat that I realized what a great agent is worth--not what she costs, but the amount of value she brings to the closing table.

 

Great agents often work their magic behind the scene but sellers are frequently left out of the loop. Once the listing was signed, the only time the five forgotten agents communicated with me was to schedule showings or present an offer.  Pat demystified and clarified the agent's role and value for me.  To honor her memory, and showcase the value of a great agent, I will use Pat as my example to reveal how she changed my opinion of a real estate agent's worth and maximized my net by boosting the bottom line.

 

Reason 1:  Pat put my desire to sell at the top of her priority list.  If mine was not the only listing she had, and I'm sure it was not, she certainly made me feel like I was her most important client and my goals were her goals.  It was not about her, it was about selling my property for the highest price the market would bear in the shortest time possible while keeping it as hassle free as a real estate transaction can be.  That's a lofty goal.

 

In order to accomplish the above mission Pat assessed my motivation to sell and discussed my timetable.  She gathered the personal information needed to establish an "Action Plan."  I later realized how comforting those words "Action Plan" were to me, and within a day Pat dropped off a powerful plan of action.  She began the listing with detailed knowledge of my wants and needs.  She listened, and better still she heard. 

 

I made the decision to sell, but Pat made it happen.  I remember the sense of relief I felt after meeting with Pat.  It felt good to pass the baton to an agent ready, willing and capable of moving forward with the sale of my property.  Confidence and trust are essential elements in a successful agent/seller relationship.

Reason 2:  Coming soon!  The story of Agent Pat will continue.

All "Agent Pat" articles:

Norma Toering - REMAX Palos VerdesNorma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Chosen by MovingCost.com as one of the best Los Angeles realty blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

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Comments(18)

Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Can wait to read part #2 of Pat the agent.........sounds like we got some big shoes to fill. It is nice that you have found an example of what a realtor/agent should be.....

Mar 17, 2011 03:39 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Sarah - Pat was a tiny woman, barely 100 pounds, but you're right filling her shoes--not easy!

Mar 17, 2011 03:45 AM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

"Cost Versus Worth"

Norma,

That is a great concept to communicate. Pat obviously knew it well.

Steve

Mar 17, 2011 04:07 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Steve - Without a clear understanding of what an agent does it is impossible to appreciate the value they bring to the transaction.

Mar 17, 2011 04:39 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Norma --- it's so important that sellers realize agents are working for them and for their benefit.  Looking forward to reading more.

Mar 17, 2011 04:49 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Michael - More agents need to develop the habit of engaging the sellers in the process--Pat was a master at it.  It's an effective way to establish value.

Mar 17, 2011 04:57 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Great tribute to someone who exemplifies a model agent.  It will be interesting to hear Pat's story.

Mar 17, 2011 01:19 PM
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Norma:  I was really hard on an agent once before I got my license, I was really young, and yes a little arrogant!   Hindsight I feel really bad!

Mar 17, 2011 04:14 PM
Tim Peterson
Wisconsin Realtor Safety and Concealed Carry Classes - Madison, WI
Realtor Safety Training Classes

Hi Norma-Pat sounds like a perfect role model and mentor-can't wait for the other 9

Mar 17, 2011 11:45 PM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Such a nice spin on the usual: I became an agent because my agent was such a loser and I figured if she could make money in this business, I could make 10 times more.

Mar 19, 2011 04:00 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Jane - Pat was not perfect, but she was as close to it as I ever experienced as a seller. 

Mar 19, 2011 11:20 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Jane - I was not hard on them, but I did drop them from my life and memory.  Pat earned her place!

Mar 19, 2011 11:22 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Tim - I feel another Pat story coming on...maybe tomorrow.

Mar 19, 2011 11:22 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Elizabeth - It's human nature to tell others about bad experiences. I'm ready to talk about the amazing agents.

Mar 19, 2011 11:25 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Norma, When I first read the title my mind went to “cost versus loss” and penny-wise and pound foolish. Many agents are worth their commission. As we all know, not all agents are shining stars. Confidence and trust are essential. Looking forward to reading more on the story of Agent Pat.

Mar 20, 2011 06:13 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Kathleen - I actually had an agent thank me for helping her family make one of the smartest financial decisions of their lives--and she went on to thank me for telling them they would regret not puchasing that particular home.  Obviously, they bought it and love it!

Mar 20, 2011 06:47 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Norma, I like that Pat quality that THEY want to sell it as much as you do. Oftentimes that is not the case and you feel your agent has this ho hum attitude about YOUR goal.

Mar 20, 2011 11:14 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

Gary - Pat was anything except ho hum.  She was in it to sell it!

Mar 20, 2011 01:38 PM