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 Have you ever been asked to lower your
commission? "According to
Consumer Reports, 67 percent of agents will reduce their commission simply
because the seller asks them to do so." reports Bernice Ross Real Estate Coach.
Do you know what to do to earn the full fee you deserve? Ross suggests focusing on the value your
customer will get when they hire you. The
main question to ask yourself is, Are
You Worth Your Commission?
"When a seller asks you to
lower your commission, that usually means that you haven't
demonstrated your value." she says.
They may still test
you but Ross points out that, "according to the NAR, 73 percent of sellers
interview one agent and 14 percent interview only two agents." she writes. "In
other words, 73 percent of the time the only person keeping you from receiving
your full fee is you." she writes. "Another 14 percent of the time, you have
competition from only one other person."
So what is the best
way to say "No"? Counteract the term "discount" with the term limited service". Ross offers this
script that shows your value to the seller.
"I only work with sellers who want
premium service, since that is the best way to help you achieve the highest
possible net price in the shortest amount of time. If you want to lower the
commission, I would be happy to refer you to an agent who provides less
service."
Create a Premium Marketing Plan that includes a list of Premium
Services that set you apart from the competition. This gives the seller an idea of the value
they can expect from you.
Defend your commission and show your clients the value of what sets
you apart from the crowd. Everyone wants
premium service. Remember, says Ross, "73
percent of the time, the only person keeping you from receiving your full
commission is you."
Read more from The Real Estate Coach
 photo credit: UGA College of Ag
Posted on September 29, 2011 10:22:46 by  Scott.Shields
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