If I can't negotiate my commission- how will I negotiate for you?
As a seller reaches the decision to sell their home often they are faced with two primary concerns:
- How much will I get for my home?
- How much will this cost me?
But a third factor should be given equal consideration, how well will my agent negotiate for me? Often dollar conscious sellers will request the Realtor reduce their commission fees in an attempt to pad their bottom line. This one request addresses an underlying question, what value is the Realtor bringing to the seller? Why should the seller not sell the home themselves.
When I am faced with this query my answer is a respectful, but firm, NO! I do not reduce my salary. I never ask my physician to discount his services because I am placing my health in his hands. The same is true for a seller, you are placing one of your most valuable commodities in the hands of a knowledgeable, experienced Realtor who is assisting a seller with one of the most important decisions of his life - the selling of his home.
My experience has been gained as I have learned from coaches, mentors, continuing education and through the experience of closed transactions. As I begin a consultation with a potential client I explain, at the onset, there are one of three things which will happen today. (Thank you Mike Ferry.)
1. You'll select to work with me.
2. You'll decide not to list with me.
3. I may decide not to work with you.
So Mr. Seller if I fold at the first sign of resistance, especially as we are speaking of my salary, how well do you think I will negotiate for you against another agent. As part of my fiduciary duty I am responsible for negotiating the highest purchase price and the best terms for you. Terms would be conditions of the contract such as how many days to closing, who will pay closing costs and your response to a request for repairs, to name a few.
Mr. Seller if I can't negotiate my commission - how well will I negotiate for you?