But Two Other Agents Will Do It For Less...

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291
https://activerain.com/droplet/56gV

 

But Two Other Agents Will Do It For Less..

 

I have been protecting my commission since my very first listing. There is a Floyd Wickman audio tape that I was part of way back in 1996. My position has not changed.

 

 

                                                     Commission HomeRome 410-530-2400

 

 

 

I choose not to negotiate. I follow my own standards and list at one of the highest, if not the highest, rates in the area.

 Let me tell you about one of my early transactions many years ago.


A friend of mine had a small home to sell and tried it for a while without an agent...a FSBO as we call it...meaning for sale by owner. This friend ran an ad in the paper and put a flyer in the local business areas but no one had been to look at her home.

 This was back in the dark ages before the internet, websites and blogging changed the world of real estate.

My friend really wanted to use me but said there was no room for a commission.  Every penny was needed to pay off the mortgage.  

My reaction:

"You can't afford NOT to use me"

It took some convincing before I was able to show the amount "in the pocket" that would be her net. She trusted me and agreed.

Pricing the property above what she was asking, knowing her bottom line, I added the fees and closing costs. I did a flyer, print advertising and of course the MLS. And after only a couple of showings, we negotiated a full-price contract!

And today it still works.

When talking with a seller, I always ask one important question. "You tell me what you need from the sale, your bottom line and IF I can get that for you, what difference does my commission make?"

 What matters is that the seller and I know what that bottom line is.

One of the nicest results is that  sellers - who were skeptical to begin with, want their friends and family to use me. 

 

Today I heard...

 

But Two Other Agents Will Do It For Less.

 

 

Margaret Rome 410-530-2400

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Floyd Wickman
The Vent
Cosmic Cow Pie...The Rome Way
Bananatude
Bartender, Make it a Double
Tags:
commission
real estate commission
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protecting your commission
two other agents will do it for less

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Ambassador
4,260,720
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I often hear similar arguments, and point out that if they really need to make money with their land then they really need to hire us, if money is not important to them then save a few dollars on forestry services and lose thousands on your current and future forest income.

Apr 17, 2014 03:09 PM #1
Rainmaker
5,028,837
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Margaret....some we do negotiate because we know it's a quick deal ahead....others no need to negotiate....we are flexible...

Apr 17, 2014 06:36 PM #2
Rainer
34,860
American Brokers Realty Group
American Brokers Realty Group, Inc - Cape Coral, FL

We're definitely adept at finding answers for questions we're allowed to answer.

Apr 17, 2014 08:30 PM #3
Rainmaker
2,676,750
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Margaret - Yes, this is a great approach.  It is their net that is most important and many fail to see this.

Apr 17, 2014 08:54 PM #4
Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Two other agents won't do the job nearly as well as you do and will take longer to sell the house.  More than likely there will be several price reductions and the bottom line will be less than the sellers expected....hmmm, who wins?

Apr 17, 2014 09:02 PM #5
Rainmaker
3,825,796
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Margaret,

I knew I really liked you..another Floyd Wickman graduate..he taught us well..protect your commission..show your value..it works every time!!!

Apr 17, 2014 10:23 PM #6
Rainmaker
3,125,560
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

An excellent approach. I find that when I've laid out my list of services and what they cost me out of pocket sellers generally don't argue about my fees. The ones that do need to go with someone else and not me. 

Apr 17, 2014 10:47 PM #7
Rainmaker
1,766,782
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

Great idea in the protection of your commission, we don't always look at the commission the same as the Realtor Margaret.   :)

Apr 17, 2014 10:53 PM #8
Rainmaker
743,948
Rob D. Shepherd
Windermere/lane county - Florence, OR
Principal Broker GRI, SRES

The other two agents might not even get the job done and lose precious market time.

Apr 17, 2014 11:23 PM #9
Rainmaker
1,445,011
Kat Palmiotti
406-270-3667 (MT), 914-419-0270 (NY), Broker in NY with Grand Lux Realty and in MT with (coming soon!) - Kalispell, MT
The House Kat

I love this line, "You tell me what you need from the sale, your bottom line, and IF I can get that for you, what difference does my commission make?"

Those other two agents who will do it for less are NOT YOU.  That's what the sellers will be paying for.

Apr 18, 2014 12:28 AM #10
Ambassador
3,092,697
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

If we can't negotiate our own commissions, then how the heck are we going to negotiate for our clients.

Apr 18, 2014 09:00 AM #11
Ambassador
3,005,570
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Bob, You do understand.

Barbara, You have the flexability to do that.

ABR, Have seen this comment but do not understand what you are saying.

Debbie, It is all about the net.

Roger, I win because I have made room for a more deserving client.

Dorie, Still following FLoyd. He was a guest twice this year on my radio show.

Nina, Easier for me to say next..never argue. The other person will do as good a job as they can.

Tom, Most people don't.

Rob, Maybe so.

Kat, Sometimes it is surprising that the listing agent does NOT know that number.

Chris Ann, This is such an important concept.

Apr 18, 2014 01:47 PM #12
Ambassador
3,983,135
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Margaret, I know you are worth it and if you get the job done, why not use you?

Apr 18, 2014 01:55 PM #13
Ambassador
3,005,570
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Debbie, It is nice to have enough in the pipeline to be able to walk away.

Apr 18, 2014 01:58 PM #14
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