“Client Thinks Real Estate Commission is Too High”
Realtors are one of the few professionals whose entire income is a gamble. We invest time and money with our buyers and sellers, with no guarantee that we will see a dime of compensation. Most buyers and sellers find it more convenient to "pay" a commission at closing, when large sums of money are already changing hands, than pay for services as they are used.
Listing contracts call for Realtors to be paid for getting results for the seller - and most of my sellers are grateful when they get to the closing table sooner rather than later, as a result of my market knowledge and terrific marketing program.
“Client Thinks Real Estate Commission is Too High”
Last month I referred a client to a Realtor to sell her home and represent her to find a smaller home. Lois is a sweet lady, but is always talking about how expensive everything is, including how much it is going to cost her to sell her home.
The home was listed and went on deposit within 10 days, which was probably the reason she was complaining to me. I asked her if she was satisfied with the price. She said absolutely, but a 5% commission for 10 days of work seems like a lot. I asked, would it have been better if your property would have been on the market for months? No of course not, was her answer.
I asked Lois how she was doing with her home search she told me she has narrowed the search down to two properties. How many homes did you look at, she told me a total of 5 properties. Did she show you what you wanted to see? All except one of the properties.
I told Lois she was very fortunate to be dealing with someone so competent and stop complaining about someone who deserves every dollar she earns, just like she does in her law practice. You’re right she said, sometimes you just need to hear it from someone who knows.
image courtesy of Grant Cochrane/freedigitalphotos.net
Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Email: joe@righttracfg.com
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.
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