Compensation or performance? Which one will it be?

By
Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

There's been a couple of posts, recently, about alternative ways for Realtors to be compensated. One idea, put forth on ActiveRain, by Brian Brady and then by Jeff Corbett, is compensation based on performance. I guess the reasoning behind this is that we, as Realtors, would have an incentive to negotiate harder for our Sellers and therefore, get them a higher selling price for their property, if we had an increasing pay scale. I've been thinking about this for a couple of weeks and I am having difficulty coming up with a plan that I feel would work. First, I always try to get as much as I can for my Seller's property. Secondly, I don't require any additional incentives to perform my duties to the best of my abilities. And thirdly, I feel my current commission percentage is fair compensation for what I bring to a transaction.

It's important to remember, that when selling a property, Realtors do not set the market value. We provide a price range that we feel the property will sell within. The property's selling price is dictated by the market. The selling price is agreed by the Seller and Buyer through their negotiations. Offering a Realtor a performance bonus will not change market value. It just doesn't work that way. A Realtor cannot sell a property for more than it's worth just because he gets a bonus if he does. I guess the other side of this is, can a Realtor convince a Seller to take a lower price just to get the deal done and get his commission. This seems to be the scenario that was put forth by Mark S. Nadel in his paper, written in October 2006. Mark also mentions the issue with Buyer's Brokers "steering" buyers to properties offering higher co-brokes.

As hard as I've tried, I am not able to come up with a new plan or way of doing business that I feel would be more beneficial to the consumer and myself, than what I already do. It's pretty easy to say, when it comes to compensation, that the consumer wants to pay as little as possible and the Realtor wants to make as much as possible. So where's the middle ground? What can I do to ensure that my Seller is getting what they are paying for? And to ensure that I am getting compensated fairly for my efforts? So here's a short list of things that I already do.

  • I only take 45 day listings. This is something that I have been doing for several years now. The advantage to my Seller is that they are not locked into a long contract and if they are not satisfied with my services they don't have to wait 6 months or more to make a change. I tell my Sellers upfront that I probably cannot sell their property in 45 days but I can certainly earn their business during this time.
  • I do not charge cancellation fees. Even though my agreements are for only 45 days, I give the Seller the right to cancel our agreement, at any time, at no charge to them. I am guaranteeing their satisfaction. I am taking all the risk.
  • If the Buyer is not represented by a Realtor then I will reduce my fee to the Seller by 2%. I will handle the transaction as a non representative to the Buyer. My loyalty remains with the Seller.  
  • I do not work with Buyers. I will never have a conflict of loyalty.

By implementing these few minor things. My Sellers can rest assured that I will always be looking out for their interest. And for that, they will pay.

Now let's talk about Buyer's Brokers and "steering". Contrary to what Mark and others have stated it is neither illegal or unethical to not show properties that are not offering acceptable compensation. As a Realtor, you do not have to work for a $500 co-broke. However, this should be discussed with the Buyer beforehand. Buyers have the right to know the rules. If the Buyer does not agree with this, then they have three choices:

  • Go it alone.
  • Find another Realtor. 
  • Sign a Buyer's Broker agreement(BBA). A BBA will outline the terms and conditions by which you are willing to work. It will also state a minimum amount that you are willing to work for. This agreement gives the Buyer assurances that you will show them any property, that may meet their parameters, regardless of the commission being offered. Your fee will be x%. If the co-broke being offered is less, then the Buyer will make up the difference. If it is more, then you can rebate it to the Buyer, assuming it is allowed. So "list" your Buyers. Quit depending on the listing Broker to set your compensation level.

Our Code of Ethics specifically states that a Realtor cannot use the terms of a purchase agreement to change the co-broke. However, the Buyer can. The Buyer can request, in the purchase offer, that the Seller pays his Broker an additional commission, as per the terms of the BBA. This can be made a part of the contract. It is nothing more than a Seller contribution towards the Buyer's closing costs. A BBA is a win, win, for both Buyer and Realtor.

So, there you go folks. Things I do to protect my Sellers and Buyers and to ensure my performance. Very simple. If I perform, they pay me, if not, fire me. I'm a simple man and complicated commission formulas do not work for me. And I know from experience, having sold hundreds of homes, that really, Sellers just want to sell and Buyers just want to buy. If you can help them achieve this, then compensation is not an issue.

Is the consumer fed up with our compensation or our performance? You can be sure, one of these things is going to have to change. Which one will it be? What say you?

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 Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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Comments (90)

Louis Wolfson
ReMax First Realty - Newton, MA

Bryant,

I use to own a Help U Sell Fanchise great idea, menu driven, low set fee and only x% to the co-operating broker if sold thru MLS.  Yet in my market the sellers wanted full service,(even though I was giving it to them at the reduced fee, as I, like you know no other way) they did not want to be bothered and were willing to pay the full fee.   This was back in 91 and Help -U-Sell's parent company went into resevership and I moved onto ReMax. 

The beauty of ReMax was that if you list a home and a buyer calls the office it is directed to you.  Nothing wrong with both sides.  It does take more work.  I also let the seller know at the listing time, that if I do get a direct deal I will reduce my fee (not to the point that you have upfront)  I have never let a fee stand in the way of a transaction

I have always believed in "Facilitation" bringing two people together, giving them both all the information avaialble and letting the market speak for itself.  This was before what is now called buyer brokerage.  The reason I say that is when I practiced Commercial real estate, I was a buyers broker much of the time and my buyers compensatated me on top of the purchase price (as dealing with institutions it is difficult enough to get their committees to agree on a price, let alone my fee)

You talk about buyers brokers and steering, not showing a property for $500  I believe that you are right that they don't have to show them that property, but as a buyers broker they can be sued if they don't.  In fact if they don't show them homes not on the market that meet their clients criteria or FSBO they are open for liabiltiy.   Answer a buyers agency agreement. Spelling out compensation and services offered.  I have issues with buyer agency agreements as well, do to agents lack of knowledge outside their immediate market.  But we'll leave that for later.

 

Louis Wolfson ReMax First Realty Newton, MA

 

 

 

 

 

 

Dec 29, 2006 12:09 PM
Anonymous
Mark Nadel

Ines,

You make some good points.  The two issues I want to address though are 1. one size does not fit all, and 2. how to distinguish your home from 50 other similar ones

1. I absolutely agree with you and Bryant that no rigid rate structure would fit all markets or price points within a market.  Therefore, my proposal leaves a lot of flexibility to handle all the variations that I can think of.  To the extent that a particular task is relatively routine (takes a set amount of time and other expenses) it makes sense to me that it should be priced at a flat fee and that consumers will want that.  Yet I would expect the level of that flat fee to vary based on market conditions (which may affect the average time involved) and the current prices for other expenses.  As I also noted, since the personality of the seller (how flexible they are) affects the likely number of hours involved and how much or little one will enjoy working with them (and thus the rate one wants to charge them), I would expect brokers to have all the freedom they would need to offer quotes of different flat rates for different homes.

I also mentioned many times that the hourly rates would depend on one's level of expertise and the level of competition in the market.  Ideally from consumers' perspective, all realtors would face significant competition, and be forced to charge relatively low rates.  On the other hand, those brokers and agents that have invested significant time in training and familiarity with the market will be able to charge premium rates, because they will be worth it, and sellers consulting friends and others will point out that they are worth it.  I appreciate your point that some sellers just pick the listing broker who's CMA can justify the highest asking price, but that is as stupid as choosing the painter or plumber offering the lowest price, without checking their references to confirm that they will deliver the quality of service desired.  I think that  agents should be able to easily point out to consumers that they should be willing to pay more for higher quality service, particularly when the best price is someone who will deliver unsatisfactory service.  The success of so many retailers who offer better quality goods at prices that are not rock bottom, suggests to me that good brokers, like good lawyers, will not have difficulty convincing consumers that better quality MAY cost more.  I capitalize MAY, because I also think that there are some brokers who both offer better service than others AND charge lower rates.  I feel it is terribly unfair of traditional brokers to argue that anyone broker who charges less than the standard fee, e.g. 6% in a market, MUST be offering inferior service.  That is just not true.  It would be like saying that just because Costco or Walmart offer lower prices, the goods and services they offer are inferior to those of their competitors.  That is just not so.

Finally, I recommend that sellers, if not also buyers, include an incentive clause in the fee formula to motivate brokers - in situations where that is relevant - to make extra efforts to obtain higher prices.  The appropriate (or fair) percentage used, 20-50+%, however,  depend on market conditions and other factors.

Given the flexibility of all three of these rate elements, it is my claim that some combination of them would provide a good fit for any market and price point.  If you think I am wrong, I would appreciate it if you could describe a situation that would not be covered.

2. On distinguishing your seller's home from 50 other competitors.  In situations where there are truly as many as 50 similar homes competing for the same type of buyer, I would like to believe that this increases the value of buyer brokers and that buyers are willing to pay more for a broker who can accurately assess their search profile relatively quickly, despite self-deceptive answers they give to specific questions about what they are looking for.  I think the best buyer brokers need to develop the same skills as a perceptive doctor (like Fox network's Gregory "House") who takes his patients' answers with a grain of salt.  As my article recognizes, brokers (quasi-psychologists) who do this well should charge premium prices that reflect this and they should quickly accumulate glowing testimonials to that can help them justify those rates.  I would like to believe that even less perceptive buyer agents with a client seeking a home of a certain type will feel obligated to investigate every home displayed in the MLS (and other non-MLS sources) that might meet their clients' interests.  Even if they can't visit each home themselves, they should at least be able to get sufficient information from all such homes from their colleagues so that they can effectively serve the buyer.  In fact, if they are too overwhelmed to help the buyer consider all relevant homes, I would argue that they have too many clients and should resign from some to handle the rest satisfactorily.  Assuming that the buyer agent is doing what I consider is a minimum job on checking out all homes that meet the buyers' interests, then I don't see how additional marketing like postcards helps much.  In summary, it sounds to me that your expensive marketing efforts appears to compensate for buyer agents who are not doing their job or for serving buyers without agents.  In both cases, I would argue that those services really should be paid by the buyers - those with inferior agents should give you a portion of their half of the co-op fee and for those without agents, you will have earned the right to keep the coop fee.

Sorry for writing yet another long post, but I look forward to your response.

Dec 29, 2006 12:30 PM
#72
Brian Brady
San Diego VA Home Loans/858-777-9751 - San Diego, CA
858-777-9751

Mark:

I absolutely love the incentive-based compensation proposal.  I'm digesting my first read of your paper.  I'll be back onthis post with more questions this weekend.  As you can tell, I'm a fan of incentive based compensation.
Dec 29, 2006 04:32 PM
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Brian and Mark - I think Bryant and I agree on this topic - I offer the best possible service to each one of my customers, and extra incentive will NOT make me to a better job, I would find that unethical because it means I was not doing my best to begin with.

Now to the rest of the topic.  I'll start with your second point:  If buyer agents are not doing their job, it means that I, as a seller's agent need to do extra work and make sure the listing is out there in people's faces.  As much as I can control the quality of my services, I rely on other agents, who may not be doing their job, to sell my listings.  I do think we can go on forever her and not go anywhere.  I see your point Mark, I don't see it in my market.

Next.  Assuming I totally agree with your new rate proposal including all 3 rate elements.  How do you suggest we "sell" this better system?  All discount broker models have failed in my market, people are willing to pay more money with in our current market.  I have to add that some of this "discount" brokers did not offer "discount" services like a lot of other Realtors claimed.

Now to my last point.  One of the reasons I don't like your fee structure is very selfish.  It is the fact that my husband and I have been in this business for only 4 years.  Although we are both professionals, he is an accountant, I am an architect and we both have over 13 years of Commercial property Mangagement experience, we would be competing against agents that have been in the business for 20+ years.  Those agents are the "top dogs", those agents certainly have more experience, but I can assure you that with our professional backgrounds and our own real estate experiece, we are offering superior service than many.  We are stirring some controversy in our local market and it would not benefit us to put a price on our short years as actual REALTORS.  There are a lot of new agents that have unbelievable potential and are better than their experienced counterparts.  I don't believe experience makes you a better Realtor, that's just my opinion and there are always the exceptions like Broker Bryant.

I don't know if I'll be able to check in until the new year, I will try to see were the discussion is going, but have a Great New Year if I don't check back.

Ines

Dec 30, 2006 12:47 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time
Ines, I really appreciate you taking the time to participate in this discussion. I know you and I are on the same page. I think this discussion has now made it full circle and we are back where we started from. I'm looking forward to hearing Brian Brady's comments, once he has completed his reading of Mark's paper. It's very interesting, by the way, if you haven't read it. It's very difficult in my opinion for an industry outsider to really get a handle on what we do. I think the biggest thing is assuming the consumer will take the time to establish who is the best Realtor and then be willing to compensate us accordingly. And to take it further, to get the buyer to agree to pay for services exclusive of what is being offered as a co-broke. In reality the buyer just wants to buy a house and the seller wants way to much for their property and is shopping rates, not experience. Have a great New Year!
Dec 30, 2006 07:11 AM
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Bryant - you are the master with words - I totally agree with what you are saying and we are definitely on the same page.  Thanks for letting me be a part of the discussion and Have a great New Year.
Dec 30, 2006 10:26 AM
Anonymous
Mark Nadel

Ines,

A Happy 2007 to you too, and a few more comments.

1. Incentives.  I don't think there is any ethical problem with giving incentives to real estate agents to increase the sale price of a home above what a reasonable CMA indicates.  Special rewards based on above-and-beyond-the-norm are common and ethical throughout society, including for police officers, soldiers, teachers, etc.

2. Selling the system.  I think that a system that charges less where there is less work to do should be attractive to individuals who want to do some of the work themselves and/or are willing to shoulder some of the risk of how much work will be required to sell their home to save money.  You may not want to deal with the "penny pinchers" who are apt to complain a lot and demand more than they want to pay for, customers who appear to be reasonable and merely retain a little more equity in this weaker market would likely prefer such a structure.

3. Charging for superior service.  Ines, as you point out, years of experience is not the sole indicator of the quality of service an agent or broker will provide.  In fact, many long-time agents may be well beyond their prime.  I think that the key for all agents who believe they deserve premium rates for providing superior service - new or experienced - is to clearly and succinctly communicate to consumers evidence of their superior service.  Ines, maybe you and/or your husband have the ability to connect with customers instantly and make them feel at ease from beginning to the end of the process.  You might state that "we minimize your stress" or words to that effect and offer references to past customers.  Maybe your homes sell significantly quicker than those of the average agent or your customers consistently rave about you.  Maybe you had more successful sales in the last 6 months than most other agents.  I could go on, but the point is that if you are providing superior service and can clearly document that, then I believe that a substantial segment of consumers in the market will recognize that and be willing to pay premium prices for premium service.

Thanks again and a Happy 2007 to everyone participating in this blog.

Mark

Jan 02, 2007 01:06 AM
#77
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Hello again Mark - hope you had a wonderful new Year and best wishes for you and your family.

1.  Rick and I go above-and-beyond-the-norm with every single transaction, we would not have it any other way - that's why we have so much repeat business.

2.  The reason we are successful at what we do is because we have total control of every single aspect of a transaction.  If we leave some of the work to our customers, it would probably mean more work for us because we would have to double check that the work was performed.  i.e. they show their house and they "forget to leave" since buyers feel uncomfortable about having the seller present when viewing homes.  Then I call to get feedback and the buyer's agent tells me they were present.  Another example:  They want to call agents to get feedback and talk "too much" and now our negotiating strategies are out the window. 

3.  Thank you for clearing number 3.  I feel confident about our level of service and the fact that by being an accountant and architect, can offer so much more than the "typical agent".  But in our market, our compention keeps telling the consumer that "20 years+" is so much more important.  It's very similar to a seller hiring an agent not for what they offer, but for what they want to list their home for - these agents "buy their listings". 

Mark - I agree that there are major problems with the Real Estate Industry, and a lot of us agree that it has to do with better education and better standards, not just a one week course with only a highschool degree.  There are several good blogs here in Active Rain where we have discussed great ideas of improving our industry.  Thank you for all your effort and good luck.

Ines

Jan 02, 2007 03:01 AM
ARDELL DellaLoggia
Better Properties Seattle - Kirkland, WA

WOW!  Now this is an ARTICLE!!  Thanks to Mary for bringing it up.  I've bookmarked it to read more thoroughly later and to read each and every comment.

I'm surprised Broker Bryant...pleasantly so!  I'll have more to say on one of my blogs on this topic after I read it more thoroughly.  It deserves more than a cursory glance, but I've added it to my "stash".

Jan 08, 2007 05:24 AM
ARDELL DellaLoggia
Better Properties Seattle - Kirkland, WA
Ooops....it was Christine, not Mary.  Thanks Christine...
Jan 08, 2007 05:25 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Hi Ardell, I know, you thought I was just another pretty face:)

BTW If you like this one then you must read this other one:

http://activerain.com/blogsview/19936/So-what-do-you

The post I just linked to started at the Bloodhound blog and then moved over to mine. The comments are awesome!!!

Jan 08, 2007 06:17 AM
Joe Gomez
Realty Executives of Treasure Valley - Eagle, ID
Bryant lots of information to digest & apply to my business model thank you for your insight
Jan 08, 2007 10:16 AM
Bonnie Erickson
Tangletown Realty - Saint Paul, MN

I'm thinking of several scenarios for Stan of what I call negotiating for my buyer.  Because I was an exclusive buyers agent (our company did no listings) for several years and in our market, the coop fee offered is usually less than 50% of the listing fee, my choice to be an EBA automatically put me on the "less commission" side of the table.  My commission is not what motivated me.  What motivated me was getting the best deal for my buyer.  By implication when I got a discounted price I was also discounting my commission because they went hand in hand.  What was a few hundred dollars (my share of the discount) compared to the good PR and referral base I was building by doing my job?  That's the cheapest advertising I know of.  Secondly, I negotiated many times when the listing agent was the stonewall.  I present my offers in person because sometimes what the LA has said is not what the sellers really want.  For example I had an offer to make on a duplex which refused FHA financing, but my buyers preferred to go FHA because they wanted the minimum down payment.  Since my research showed there was an FHA loan on the property currently, it made no sense that the sellers would decline FHA financing unless they were worried about work orders or something else.  By presenting the offer in person I was able to ask the sellers what their concern was.  It was work orders.  The agents sent me away with insulting remarks regarding wasting their time, etc.  I knew the sellers were engaged based of body language, etc., so went back to my buyers with the sellers' concern about work orders.  The listing agents (team) had not had the required city point of sale inspection (this suburb was known for being tough on required repairs in order to sell) nor the rental inspection for the year.  We rewrote the offer still with FHA financing, discounting the price but with the agreement that my clients would pay up to the amount of the discount toward any work orders on the FHA appraisal that were NOT called on the point of sale or rental inspection.  Again I presented in person and the sellers accepted the offer.  Ironically the sellers did not disclose that the FHA lending would have to be appealed because there was a railroad track within 40 feet of the unit which warranted an automatic rejection by FHA.  I did the research, got the info required for the appeal and managed to get the appeal and approval done in two weeks in order to close the following week.  The sellers had to get their two inspections done.  The final cost to the buyers for FHA work orders was zero.  The cost to the sellers for the repairs they had to do for the inspections was over $4000 because they had to replace a large picture window with safety glass, a furnace, kitchen floor, and some plumbing.  My clients' offer was accepted for less than the original offer because the sellers were so afraid of the FHA work orders and the sellers did not do their jobs of getting the inspections done prior to listing.  I more than earned my commission that time and many others as a buyer's agent.

Oops, I hoodwinked Broker Bryant's blog.  I've got other examples that show my buyer's agent expertise.  I take negotiating on my clients' behalf very seriously on both sides (I never do both on one transaction, though.).  The ultimate goal for all is to sell/buy the house.  Sometimes saving $4.36 gets in the way of completing the transaction and it's our job to keep the client engaged and see how insignificant some things can be to the larger picture.  It's not just negotiating, it 's the whole process of due diligence, creative problem solving, social work, etc., that we get paid for!  EVERY transaction is different and presents a challenge of some kind.

Jan 12, 2007 10:17 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time
Hey Bonnie, Thanks for the belated response to Stan. I'm going to pop him an e-mail so he can come back and read it. You can hoodwink my blog anytime. I love good discussions. 
Jan 12, 2007 10:24 AM
Anonymous
Stan

Bonnie,

Thanks for your comments and I tip my hat. I propose you represent me and BB can pick his client and we'll do battle......Clash of the Titans! (Broker B is TOAST)

You did what I wish agents I've experienced would do.

1 Do your homework

2) See obstacles as opportunities

3) Client's interests are paramount

4) Read the "play"

My experience has been atrocious; not just once, but in several markets. Agents who are more concerned with making a deal than making MY deal......agents who are working on "the next deal" with the other agents and sellers to the exclusion of my best interests....... and down right unethical behavior.

One of my "favorites" is an exclusive buyer's agent who I contacted after getting his business card at the Chamber of Commerce. I had such bad experiences prior to that I figured working with someone who's sole compensation comes from buyers would be different. In fact, it was the WORST. Long story short, he returned my call and apologized for the background noise as he was at his "full time job" as a bus driver. After his route, he's a buyer's agent. He promised to search the MLS and represent me. When I asked about FSBO's and knowledge of the market he said he wouldn't drive around but if I saw something advertised, he would have no problem knocking on their door. In addition, if *I* proved worthy, he would help me sell should I ever need to. What a freakin' joke. Needless to say I thanked him and hung up.......

In another market I signed an exclusive buyer's ageement with and began to work with him. Along the way I located a house, a new, non listed new construction, so I told the agent and had him work out his commission with the builder. After we decided we were serious about the house, I emailed him with some basic follow-up questions. After he ignored me for over a week, I decided to find out what was going on......several days later he wrote me and said he was getting the listing but could still represent me as well. I fired him on the spot.......

So, I'm pretty skittish about working with agents and figure I can do 95% of the work myself. If an agent is interested, we'll negotiate a per hour rate for their time and write a list of items they will be responsible for......other than that.....why should I pay $12k-$15k for next to, or less than, nothing?

On a closing note, something you said sticks out in my mind......the listing agent was really the hurdle to get past. My experience has been the same. As bad as my agents have been....the listing side has been worse. They are counting the commission on a FULL list offer and nothing less will do.....to the exclusion of making a sale. With the market as it is now, a 98% of list is better than 100% of NOTHING.

If I were you I would DEMAND a higher split as YOU are the one who's providing the rarest commodity.....a qualified buyer. JMHO

Jan 12, 2007 01:47 PM
#85
Bonnie Erickson
Tangletown Realty - Saint Paul, MN

Stan, Thank you for your compliment.  Coming with your history of poor representation I hold the compliment in higher regard.  It's hard to toot your own horn, but regrettably my experience in the "field" has encountered a lot of the same thing you have.  There are some really good agents, more than I realized from my field experience.  Once I joined a couple of real estate networks (RealTalk and Active Rain) and saw the level of professionalism that serious agents have, I once again became proud to be an agent.  Many of my scenarios are frought with agents on the other side disclosing what seemed like nebulous info to them but was an opportunity for my buyer client to get a free bathroom installed, buy a custom pool table with the house, etc.  Now that I do listings, I find it more frustrating because my goal has always been to serve my clients.  Listing in this market is a week by week process in price changing, etc.  Keeping the sellers abreast of falling prices is emotionally tough.  Trying to get a buyer with the glut of inventory is even harder.  Seeing the listing expire because the client wouldn't reduce the price felt like true failure on my part.  The failure is harder for me to deal with than the loss of commission.  Money can't buy me satisfaction.  It can buy clothes, improve my house, stuff for my grandkids, but not fulfillment and satisfaction in a job well done.  I HATE that part of my job.

Nothing irks me more than attending a closing with one of the top producers in the area and having that agent spend all buy 2 minutes of his time in the hallway on the phone.  His clients were left at the table with me, my buyers, and the two closers.  Who do they ask their questions?  I'm not THEIR agent!  Who did they send their son to when it was time for him to buy?  Me.  Why?  Because I got a good deal for my buyers (Remember they were the sellers.) in price, negotiated inspection repairs without overreacting, was wholly present through the entire transaction, etc.  When his son called, I didn't recognize the name of the person referring me (remember not my client) and I got the whole story.  I don't know how the top producers become the big mongers that they are but a couple of them in our town don't deserve the commission they get.  They've been good business machine managers, but I question the agent part of the deal! 

The problem is the public often doesn't care or know about representation.  When I've tried to explain it now that I'm no longer an EBA, most clients have little interest.  They only want the house.  It's a shame, because representation is our highest value that we bring to the table!

BB, I'm sorry to hijack your blog again!  You and I  . . .  can you imagine what a smooth transaction that negotiation would be?  Or maybe it would be the toughest in our careers!?  Oh my, the joy of working with a true professional.  Hey, it's 9 degrees Fahrenheit today.  "Wanna" move?  Of course, we have 16,000+ agents competing for very few sales in my market, so you might have to send TLW to the thrift stores to shop!

Jan 13, 2007 03:27 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Bonnie, some of the best deals I have done were when there were 2 very good professionals on opposing sides of the deal. The negotiations were difficult but handled in a professional manner. The end results were buyer and seller both being pleased with the results and 2 REALTOR® being able to congratulate each other on a job well done.  

I think I'll pass on the 9 degrees. I just came in from outside where I was sitting on my deck watching the Osprey fish in the lake. It is in the mid 70s and I think I got a little sunburned.:) Sorry.

Jan 13, 2007 03:55 AM
Christy Powers
Keller Williams Coastal Area Partners - Pooler, GA
Pooler, Savannah Real Estate Agent
I loved the "list" your buyers. That was a good one. I can't believe the discussion this creates. It's great to see everyone's opinions on the matter though. You have given me quite a lot to read tonight!
Mar 19, 2008 02:25 PM
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Bryant - I just came back here to take a look and what GREAT DISCUSSION!!!  Thanks for reminding me. (to think that it was over a year ago......wow!) - I miss you. ;)
Mar 22, 2008 09:03 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time
Hi Ines, This one was fun! 15 months ago and we are still having the same discussion over on Kim's post. Somethings never change. I hope you and Rick are both doing well. I miss you too :) 
Mar 22, 2008 09:40 AM

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