I simply had to laugh when I read this statement that Marc Davison, a founding partner of 1000watt Consulting, made in his great article “The Many Faces of Real Estate” that was published in Inman News. Marc laments the topic of real estate commissions, making a case both for and against “high” commissions. Trying to paint a picture of the "easy life" of the “modern day” Realtor, Marc writes:

An agent takes 100 shots with her $350 digital camera, shoots video and uploads it to Wellcomemat, produces a Real Estate Show, blogs about the home, adds it to Zillow, creates a vFlyer Web site and syndicates the listing to 20 additional Web sites -- all within a couple hours. The listing then appears on the screens of thousands of agents and consumers who view the photos, read the blog post, and map out a drive-by.

I like (and agree with) Marc’s insinuation that services like vFlyer save time and cost and make real estate professionals more effective, but don’t we all wish it was that easy! Selling real estate is hardly a walk in the park, that’s why everything helps.

The Inman Blog recently announced that the U.S. Justice Department's launched a new Web site focused on competition in the real estate industry that’s worth checking out. Included are a number of charts on real estate commission costs as well and other interesting pieces of information.

Original Post: vFlyer Blog: The “Modern Day” Realtor and Commissions
 
Posted by vFlyer Blog on 10/11/2007 11:51 AM   Comments (6)   vflyer, commissios, doj  
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Post is included in group: Marketing Results

6 Comments on The “Modern Day” Real Estate Agent and Commissions

OCT
11
2007
875,865 Points 154 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master
I've been out of town for a mini conference, didn't want to call from my cell phone. Can we do this on Monday ? If not I'll find time tomorrow.
6:06pm • #1
OCT
12
2007
I hope that anyone who reads this article understands that I, in searching my soul, made the case for the full service 6% commission. Many are skimming the piece and sending me nasty email. Please read it in full. My point was to illustrate back to agents the power of their technologies and how consumers view the efficiencies created by those technologies as reasons to pay agents less commission when in fact, technoogy and effeciency is leveraged in other industries serving to support higher pricing. 

In today's day and age defending serivce fees by claiming hard work or long hours, or dues, insurance and other costs will probably not result in a sympathetic customer. Every business has cost. And these issues do not show an immediate benenfit to the consumer. The suggestion in my article was to advice the agent community to leverage the billlion dollar technologies available to them - the tools, platforms, systems, and applications - CRM, IDX, TMS, Blogs, Websites, the entire techno gammit to support and substantiate commissions.  
Marc Davison
10:20am • #2
OCT
20
2007
131,763 Points

Two, three years ago many folks did not need a real estate agent.  In todays market of staging, pricing, and marketing our service is so much more valuable to our clients.  The longer this lasts the more it will become a learning experience for the public and us.

 Dwight Puntign
1:29pm • #3
1 Featured Post
Dwight, Two or three years ago sellers still needed agents. Handling multiple offers, price escalators and making sure it closed. Now the sellers need us to price and market the home so that it doesn't sit on the market and grow stale.
2:30pm • #4
OCT
26
2007
180,823 Points 5 Featured Posts Called Shot Master
Very interesting site put up by the DOJ... Thanks for sharing that. Some how I had missed reading about it.
5:40pm • #5
NOV
02
2007
1,402,633 Points 7 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Howdy vFlyer

I liked reading this post and the comments to it.

Have a good one
4:55pm • #6


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vFlyer Blog

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vFlyer Inc.

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vFlyer is an online marketing and distribution platform that allows real estate professionals to turn their listings into "virtual flyers" that can posted on dozens of leading online marketplaces, posted on Craigslist, distributed via email or SMS, outputted as PDF, or embedded as widgets on blogs and social networks.






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