Prove Your Commission, Don’t Lower It
[image shadow=”true” border=”true” title=”Don’t Lower Your Commission” caption=”Prove Your Commission, Don’t Lower It!” size=”medium” align=”right”]https://www.uniqueexposurephotography.com/wp-content/uploads/2012/05/penny-money.jpg[/image]
Rather than lowering my commission, how about we …
Are you lowing your commission, because you are trying to gain a listing and the seller is interviewing other real estate agents so you need to be competitive? Instead of lowering your commission and losing money, PROVE your commission!
In the May 2012 issue of Texas Realtor Magazine, they offer six things to do to prevent lowering your commissions when signing a listing agreement:
- Give them something else
- Use facts
- Don’t speak
- Make a list
- Stare at them
- Back off
It’s great to see the first option was to give them something else because that fits right in line with one of our products, video tours. When I look at listings in Southlake and Keller, whether it’s “average” or “luxury” listings, you immediately can tell who is marketing a home different from their competition. And ironically, the majority of “luxury” listings are marketed the SAME exact way!
Let’s take a look at a couple of active listings in the Southlake/Keller area. First up is 440 S White Chapel Boulevard in Southlake. It is being marketed by Roxann Taylor & Associates with professional photography, and there is a virtual tour for the listing:
Let’s compare that listing to 512 Rancho Laredo Trail, also in Southlake. 512 Rancho Laredo Trail is listed by Team Knight of Keller Williams Realty, and it also is being marketed with a virtual tour:
Notice anything interesting about the two listings above, that are represented by different Southlake realtors? They are using the same virtual tour provider, and the same photographer! Nothing sets them apart from each other! So what happens when both real estate agents go in for listing appointments – how do they convince the seller that THEY are the ones who should be trusted to sell these multi-million dollar homes?
If you offer the same service as your peer, you may end up having to cut your commission. Instead of lowering your commission, offer something different! Offer a full-motion, HD video tour! Make yourself stand out so the seller knows why you are being paid a commission and has no choice but to hire you because of the excellent marketing you will be bringing to the table.