Editor's note: This is Part 2 of a three-part series. Read Part 1. Commission cutting is on the front burner again. What can you do to defend your commission as the market heats up and competitive brokers start slashing their fees? The answer is to show your seller the value you bring to the transaction. When I wrote "Waging War on Real Estate's Discounters" back in 2005, the primary theme of the book was, "Maximum exposure to the marketplace results in maximum sales price." To defend your commission, you must be able to illustrate how the services you provide help the sellers achieve that goal more quickly than with any other agent. The vehicle for doing this is to create what is known as a unique selling proposition (USP). Your USP outlines the unique services you provide that your competitors do not. If you don't already have your own USP or if your USP needs strengthening, a key place to begin is with competitor reconnaissance. Your first step in ...
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