BrokerageIndustry News

4 ways to justify your real estate commission

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

The final panel at last month's Real Estate Connect NYC featured a group of consumers who had either listed a home for sale or were in the process of purchasing one. One woman had recently sold her California house for more than $4 million and paid more than $200,000 in sales commissions -- and clearly thought it wasn't worth it. She illustrated this point beautifully when she said: "My agents were great at keeping in contact with me. They probably spent about $20,000 in marketing. I just don't think what they did was worth that much money." Have you ever had a seller ask you to reduce your commission? If so, chances are that you failed to persuade the seller of the value you bring to the transaction. Part of the issue is that many agents simply don't do their jobs. Complaints from consumers and top producers about incompetent agents and poor service are rampant. This was an issue when I started in the business in 1978 and it hasn't changed. If you want a deal to ...