Industry News

Rookie Realtor smacked by greed

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

I just lost my first listing opportunity because of one simple factor: Greed. Not so much due to greed on the seller's part, but the greed of my own brokerage firm for refusing to permit me to charge a 5 percent commission instead of the standard 6 percent. This whole situation is so utterly stupid, so terribly frustrating, that I'm not sure if I can explain it. But, I'll try my best. For a year now, I've dutifully knocked on at least 200 doors a week in my "farming area" in the hope of landing my first listing. I've spent nearly $3,000 on flyers and other giveaways, like notepads and those ubiquitous refrigerator magnets. Door-knocking–or "farming," in Realtorspeak–is one of an agent's most tedious jobs. But many, including the manager of the brokerage I work for, also believe it's the cornerstone to build a successful career in real estate sales. I don't know a single Realtor who starts a day of door-knocking with the expectation that it will garner a quick listing. Ins...