How to you take care of your business when you are on vacation, or away for a few days? Remember, this is YOUR BUSINESS and you need to leave your clients in the capable hands of a trustworthy, ethical agent who provide them with great service.
- Do you tell them you are going away?
- Do you not tell them and hope no one needs you while you are gone?
- Do you have a colleague take care of your clients when you are away?
- Do you discuss with that agent the remuneration expected by both parties?
- Do you have a verbal agreement on what referral will be paid?
- Do you have a written agreement outling in full what referral will be paid and for what?
We all need a break from time to time, and one important decision facing you before you take that well deserved break... is "who is going to take care of my clients in my absence?" Who will handle my phone calls? Who will take a client out to view a property they want to see? Who will write up an offer on a property my clients want to buy? What if someone wants to list their home in your absence?
If you are not there, it is imperative you make arrangements with another agent to take care of your clients. If you don't and they want to act on something in your absence, they will go to another agent.
There are a variety of scenarios that could take place while you are gone and these scenarios and the comepensation expected by both parties should be clear and concise so there are no disagreements or hard feelings when you return.
First and foremost, you need someone who is trustowrthy and honest, and has the same ethic you do in the way you conduct your busiiness, someone you can rely on without hesitation and know that your clients are in good hands.
The one thing you need without question, (in my opinion) is a Vacation Agreement, or Commission Agreement between you and the covering agent, so there is no misunderstanding when it comes to commission... One size does not fit all...
This is your business and should be treated as such... this ways there is no misunderstanding on either part and both know beforehand the parameters of the agreement. I have seen too many cases where agents have gone on vacation, and asked another agent to cover for them... both with different expectations on the financial arrangement expected in a variety of circumstances. It leads to discord, and unpleasantness and the friendship with that colleague is never the same.... and has been damaged.
Some things to consider in your agreement are:
- How much commission are you going to pay on any sale of your listing, or presenting of an offer?
- If the covering agent sells one of your listings, and receive a back-up, how much will the covering agent receive on the back-up?
- If someone calls while you are away to list your home, how much is the covering agent going to receive to list the property for you?
- I you sell it when you return, how uch are you willing to pay the covering agent for writing up the listing when it sells?
- How will the commission be spllit as a result of any sign calls from one of my listings if someone lists their home, or if a buyer buys another property?
- How much will the covering agent receive if the covering agent sells a property to one of your existing buyers they introduced to the property?
- How much does the covering agent receive if you refer them directly to a buyer in your absence?
- When a listing is sold, and the seller becomes a buyer, how much will you pay the covering agent if they purchase a home through them?
- Who do ad calls belong to in your absence?
- If covering agent sells to an ad caller, how much commission will you/they receive?
These are just some of the importanat issues that should be addressed prior to your leaving on a vacation. I'm sure there are others, and if you have any to share, would appreciate hearing from you!
First and foremost, this is your business... your are a professional, treat it s such, and get an agreement in writing. I have never had a disagreement with an agent or had one who was opposed to signing an agreement, in fact we were both in favour of it, for our own undersetanding and protection, and to save our working relationship...
Comments(2)