Nordstrom Never Panics When Kmart Has A Sale!

Mary Jane Harris asked a question today in the Q&A that inspired this thought. Here's what she asked:

Seeing a lot of "cut rate" brokers offering significant discounts to both Sellers and Buyers. They advertise both on TV and two page ads in our newspapers. 

Offerings are from 1-1.5% commission charges to Seller (plus what they are willing to pay the selling agent) and/or rebate of up to 3% of the commission back to the buyer. How are you handling this objection?

 

To which I responded:

 ”Nordstrom never panics when Kmart has a sale."

 

Now, that is a clever line I got from Brian Buffini years ago and I use it often in a situation like Mary Jane describes above. However, I'll offer to go deeper with what I do. I also state that in the absence of skills, experience and a sense of self worth, agents cut their commissions. Therefore some agents/brokers, typically newer, (where were they 2006-2012 when I was in the trenches on the front lines of the depreciated market?), cut their commissions and they should.

 

The family doctor, “I want to be your family doctor, to get to know you over years of service, whenever you need my advice, information, sales or listings.”  

“You won’t always need me, but isn’t it comforting to know, I’ll always be there for you when you call and the more time that passes, the better I know you, so the better I serve you.”

 

Quality Over Quantity: I also share, that a ridiculously low commission rate is not a sustainable way to run a business and have a life, unless you go for massive volume over quality. I then offer, “But Mr. & Mrs. Seller, how does massive volume for them, benefit you? It doesn’t. Because what I see coming is lack of care, lack of communication, lack of focus, lack of details, a tired and burnt out agent…something somewhere will get missed and be costly to you.”

Why save $5000 now to lose $10,000 later? Why not spend that $5,000 now, to earn $20,000 later in proven marketing that brings in multiple offers, skilled negotiations on your deal, in savvy defense of your price and in mitigating request for repairs and appraisal issues, etc.?

 

YOUR FEEDBACK IS WELCOME HERE: I’m curious what you do to defend your value and get hired over the cut rate competition? The good news is that your market is hot if they are out & about, because they vanish when work, skill & experience are involved. Please share your tricks of the trade in the comments below. 

 

 

Photo by kibsri.  at FreeDigitalPhotos.net

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All The Best,

Thomas J. Nelson, REALTOR® / Brokered by Big Block Realty​

"Oh by the way, I'm never too busy to serve you or your referrals to good people like you."

CA-BRE# 01261476, since 1999  (My Team)

 

mobile: 858-232-8722 / e-fax: 650-240-0717 / www.ThomasJNelsonRealtor.com 

 

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