I recently listed a home in West Fargo, ND that sold in 8 days. The sellers were situated as such to be prepared for a quick price reduction to keep people ‘hot’ on the property.
Nonetheless, the price reduction wasn’t needed. An offer came in after just 8 days, and both the owners and I were tickled. I had set them up to expect a 10-10-10…if we don’t have 10 showings in the first 10 days…then we reduce the price $10,000. We know that the sooner a home sells, the more money an owner will get for it – no matter what! One of the tricks in real estate (in my opinion) is to not be married to a price – and also to prepare your clients for what’s to come before it actually happens!
And after I presented the offer, the sellers wanted to ‘chew’ on it. Roughly an hour later I got a phone call from Mr. and Mrs. Seller. I was certainly expecting a counter or an acceptance of the offer. Instead, they asked me to reduce my commission.
Why, you ask? Well – because the house sold quickly…we didn’t have to do an open house…and that I didn’t have to spend all that much to market in that short amount of time.
They brought up a good point! It was an easy listing for me to deal with – I didn’t have to exhaust all my time and resources into selling their West Fargo house. But I then challenged them if I could ask for more commission if it didn’t sell quickly. I asked if it made sense to reduce my pay because I did the job well. I reminded them what they wanted – a quick sale and lots of cash in their pocket. We got that, and so, after the conversation – they understood where I was coming from.
And so my commission remains. My wonderful sellers are moving into their dream home. A new family is getting a great house. And all is well in the real estate world in Fargo, ND!
Erik Hatch
Phone - 701.371.9739
Email - erikhatch1@gmail.com
Realtor, Keller Williams Roers Realty - www.fmmetrorealestate.com
Interim Campus Minister - NDSU's University Lutheran Center
Homeless & Hungry Director - www.homelessandhungry.org
Connect with Erik on:
Comments(2)