Handling Objection

I would say that my commission is not added to the asking price. The asking price is determined strictly by the comparable sales from both the MLS and the county tax rolls. When I do a CMA, I don't only use comps from properties that were sold using a REALTOR. I use ALL comps. So the seller is paying my commission FROM their proceeds, not in addition to their proceeds.

Wesley,

I agree with Lisa and also would add that with a high dollar home the marketing needs and costs are also substantially higher.  If you were to place ads in Luxury homes magazines or specific advertising media that caters to the types of buyers that we need to attract, the cost is nearly 10x the amount of newspaper and typical media used for lower priced homes.  The other issue is the liability involved with a higher priced home.   

$2M vs $200K is an entirely different animal.  I agree with the above comments, that the sale price is determined by supply and demand.  I also agree that you market a luxury home much differently.  From a broker's standpoint, liability is higher for the higher priced property, too.  Welcome to real estate and to Active Rain.  You're off to a great start - keep it up!

I just stopped by to welcome you to Active Rain. I hope that you find it a great benefit to your business and that you see the value that I have also found here. I am from Charlottesville Virginia and using Active Rain has really increased my business!

My main blog on Active Rain is here: Charlottesville Real Estate Blog, not the link at the bottom of this post.

I hope you will look into the many groups as there are some great group both local and broad based,....

enjoy!