Apr 11 in General discussion
Oh man!
Just potentially lost a listing to a seller who was stuck on “not paying a buyers commission”.
Used everything in the book to explain it to them correctly and at the end of it they were only wanting to pay me 2% 😵💫
Few good points that may help in future listing appointments.
- The seller is paying us an allotted commission (anywhere between 5-7% but is negotiable) which we then use to incentivize buyers to show the listing and represent their client well. Essentially, that 2-2.5% to the buyers agent is marketing dollar. By cutting that, we are effectively reducing our marketing efforts by THOUSANDS! How much are we losing on holding costs and unserious buyers by not incentivizing buyers agents to show it?
2. They wanted to only have an open house & sign and said buyers would come from that.
How many people driving down NE Whatever Road at 10am on a random Saturday are looking to buy a house that EXACT size at that EXACT price? I can safely assume not many.
3. If you want to net the most money at closing you will go with the realtor that fights just as hard for their commission and value as they would getting you top dollar on your sale. A 2% agent (which is what agents are saying now to get a listing and aren’t disclosing buyers commission) will lie to you to get a sale all while having their own interest in mind and HOPE that a buyer desperate enough comes by.
At the end of the day I probably didn’t want to work with this individual anyways but missing out on a listing never feels good.
The media really has painted the NAR settlement in a negative light. What’re you best objection handling techniques/conversations you’ve had with sellers on this?
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Oh man!
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