By Elaine VonCannon, ABR, SRES, REALTOR, Notary, Team Manager
I was leaving my office the other afternoon when I saw a fellow agent in the parking lot. We stopped and shot the breeze for a while and then I was told about some experiences that my friend has had recently.
It seems there is a firm in our area who's agents call and told my friend that they cannot show her listing if the commission is under 3%, that this is the policy of the whole franchise.
Now, I understand policy. But let's take a step backwards and relook at this. If you have clients who get auto email updates on listings from the MLS and they see a home that says it is on the market. They call you, what will you tell them?
•1. It is not on the market
•2. It is under contract.
•3. You are not going to show it to them unless they make up the difference in the commission rate SO YOU WILL GET 3% OF THE SALES PRICE BECAUSE THIS IS YOUR FIRM'S POLICY.
•4. You show it and point out all the negative features and try your hardest to make them hate the property.
Ok, now suppose they do not buy any of the above. Or they drive by the property to see if they like it. They call the listing agent, as you know we have no control over what Buyers do. They tell a friend or family member about the property and they call the listing agent to be helpful of course and they ask questions about the property.
So you say, I will not put my Buyers on auto email. I personally do searches myself and send them to my buyers. Find, BUT WE STILL HAVE THE WEB SITE CALLED REALTOR.COM. THE BUYERS STILL CHECK THAT OUT TO MAKE SURE THEY HAVE NOT MISSED ANYTHING ON THE MARKET OR THE BEST DEAL GOING. AND THEY SEE THE HOME ON THE SITE AND CALL YOU, THE LISTING AGENT, DRIVE BY THE HOUSE AND TALK TO THE OWNER WHO HAPPENS TO BE OUTSIDE WORKING IN THE YARD, YOU GET THE PICTURE.
I just hope the agents of this firm has lots of Buyers in case the buyers walk because of the policy of the firm about 3% commission policy.
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