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55 Comments on All you agents care about is the commission!
Good stuff, Cindy. I guess that guy that delivers packages only cares about his paycheck too. Or the doctor who does heart surgery only cares about the bill at the end. People say the dumbest things some times. Ya gotta love'em.
First of all Cindy, I'm not going to ruin my day by click on the link to the referenced article that sparked your post. I'm just not in the mood to be ticked off.
Secondly we all feel you on this one and to think that people don't care how insulting it is to say such a think so use. I mean think about it, the seller was able to buy the home in the first place, likely based on his/her income from a job. Now we would be wrong wouldn't we if we responded to such remarks as the following: Oh, so you go to work for free right? A paycheck....you can take it or leave it right?
Suddenly I hear "well, I never!"
People just don't think do they?
Love it! Hmmm...let's see...just got a commission check that I worked over 6 months for! (Short sale..that should say it all!). If it weren't for me, the deal wouldn't have closed at all...as I seemed to do the job of the cooperating agent, their attorney, their lender.....YOU GET THE POINT! However, I did not bank THEIR money, they did! Did I earn MY money...HELL YEAH!
Stick that in your pipe and smoke it Mr. Holman! :)
I think we could just as easily re-phrase this to all of you buyers and sellers only care about your bottom dollar and not about the agents making a living wage.
Just go ahead and throw the cuffs on us now since we're all lying, theiving crooks right? Funny how those same people are the first to ask what my opinion is of the housing market....
Great post and comments. This is always a bit of a touchy subject for sellers mainly- but it is up to us to help them understand the value.
Great post Cindy! There are so many hardworking and caring agents in our industry that get penalized because of the ones that ARE greed driven and well...just plain stink as being agents! It has been my experience that so many people really don't understand how our commission is paid and split and the expenses we incur We have to educate them better.
Hi Andrew..that just sounds incredibly insane! What is she thinking??
Hi Rosalie, I hear ya!
Hi Bryan, it's all perception. I know when the seller looks at the fee at closing..even after they've seen this number when they signed the listing and you've explained where it goes...co-op, broker etc., it's still hard for them to look at it an not think that you don't get it all. I've been fortunate and most of my clients are very appreciative of what I brought to the table and in some instances have remarked that I should get more. There are always a few though...
Hi Sandy, yep..it's not uncommon to ask you to pay for let's say a water heater, repairs or a home warranty out of your commission.
Juan, that's a very good insight. In most cases it's fear. It was fear in this case as well and I was able to talk the client through it.
Hi Wayne, I thought the article was rediculous..use your agent but for god sake don't trust or listen to them as they're only out for their best interest. Grrr. I really hope this Holman guy never has to sell his home.
Hi Chuck, I am the same way. I always tell them that they are in the drivers seat as to all the decisions. It is after all their home, their life. We are hired to guide them through the process, have their back, and do what we are hired to do...help them buy..or sell a home. I've actually told sellers they shouldn't sell right now...or mentioned to buyers that even though they are approved for a certain amount, they don't need to go to that if they want to keep their payments lower. Happy clients in the end is the goal. Getting paid for a job well done is part of it..as it should be.
Well said Andrew...well said!
Hi Michael, as long as their shelling it out...they will always look at it. It's human nature to want to get the most for less..often overlooking that less sometimes costs you more in the long run.
Thanks K.C.!
Hi Mike, and I'm sure this guy that wrote that article is donating all the proceeds from the sale of his books to others..since it's not about the money.
Couldn't agree more Cindy. I started to read his post but then just closed the window. As #38 said, some people just say the stupidest things and I'm not going to waste my time reading them.
Oh Charita..you are very wise not to read the article as it will make you angry. I wish I had just passed it over, but the title drew me in. Sad that someone can spout that stuff and people will read and do because of it.
Hi Laura, <Big Grin> You go girl!
Hi Gabe, It's the ones that nickle and dime you and don't really care about what you bring to the table that will probably insist on overpricing their home and not doing any repairs or take any advice to make it show better.
Hi Margie, Yep, I gotta wonder if Mike Holmes ever asked about the market to an agent..Oh wait, that's right, he uses them for the info.
Hi Timothy, for sure..and it IS a hunk of change to pay..so understood. Even worse when the commission cuts into the equity that's already been spent. Educating them on what you bring to the table to get their home sold, and the co-op split is essential. There are so many choices for sellers today at all different price ranges. It all depends on what they want.
Hi Sherri, I couldn't have said it better!
Hi Cindy,
Well done, you are expressing so well what most of us get truly frustrated with.
this pfanntastic article will become a classic for the generations..... and some of the comments show how deep this entire issue of earning a fair compensation cuts.
I don't put much credence into what people like that say about agents. He is obviously wrong and he is obviously biased so I wouldn't bother with him. In my local market there are sometimes 15-30 offers on every foreclosure (which we have a lot of) and if I told the buyers "let's negotiate and lowball to see how they respond" I would be doing them a disservice and they would never buy a house. Investors rule in my neck of the woods and if you can't offer with the big boys then you won't end up buying. The more I read the comments the more I realized they just a bunch of idiots. Wow. I wonder if they would work for no compensation. As if I'm supposed to be ashamed that I expect to be paid for the hard work I do.
Stepping down off the soap box now....
Cindy ~ It's all about working hard and waiting a long time for a paycheck ~ What commission??
Hi Justin, Smart...I unfortunately opened it..and was hoping by the title that it was going to be one of those opposite kind of posts..
Hi Brian, It's an education process daily. It does still amaze me though with everything easily accessable online, that buyers and sellers still don't know how the process really works for their benefit. That's ok, I'll gladly educate as I go. I can still remember that light bulb moment when my hubby and I were in an open house..way before I was an agent and she told us we were doing it all wrong and explained why. Know one had done that before.
Hi Peter and Linda, It is just one of those things that seems to get lost in translation..why and how we get paid and really what we do for it. Most good agents try to keep the stress level off of their client, so often will not talk to them about all the behind the scenes negotiations, dealing with contractors and such..but just get it done.
Hi Nathan..hear my applause?? I guess for me reading the article and the comments in the article was to see how the commenters responded. Yeah..I know lot's of people tend to respond snarky on these types of public posts..but it still is a general idea of what we need to deal with daily.
Hi Frank and Karen...good thing I just swallowed my coffee..or it would be all over my computer. Thank you :)
CINDY ~ I thought this was a wonderful post and a great topic. Why hire me if you're not going to take my advice???
Hi Dawn, that is it right there...if you don't trust your agent, then you have the wrong one.
It is unfortunate that the sellers always think (unless if they know how this works) we take 100% home, they have no clue about our hard work, time, split with selling agent, broker, marketing cost, gas/toll , plus who know how many other headaches.
Hi Anu, Very true...and it's up to us to educate them. I've been doing more and more of giving a more detailed Seller report each week. I used to just have the general stuff..like how many showings, new homes on the market, and general marketing. Now I add in more of the things I've done behind the scenes to market and negotiate for them, meeting contractors so they don't have to leave work..things like that.