This story was last updated Feb. 9, 2022.
Competition is fierce out there. As Inman’s Jim Dalrymple wrote of a Redfin report released Thursday, fall 2021’s fierce competition drove down buyers’ agent commissions to their lowest point since the spring of 2017. There’s also a flood of new agents joining the ranks of Realtor at an all-time high (1.6 million Realtors), and inventory is at an all-time low, creating a 3-to-1 agent-to-listing ratio in areas like Daytona Beach.
Not to mention the ongoing DOJ-NAR commission battle that’s still waging; it’s safe to say that the status quo is being challenged when it comes to commission.
According to Bernice Ross’ research: “About 15 percent of all sellers will select their agent based on the commission amount. If they could persuade you to represent them for free, they would do so.”
Never has there been a better time for a crash course in commission defending if you’re new or a refresher if this isn’t your first rodeo. Below, we’ve pulled together some of our top contributed posts on defending your commission.
To handle the commission objection with utmost confidence, you have to first know your value. These five reasons that illustrate why you’re worth every penny are truly just the tip of the iceberg.
When it comes to working with buyers, objections are buying signs. Your role is to uncover their concerns, address them and move your clients forward in making the purchase. Here are a few important scripts to keep handy.
You are worth your commission, and be sure to continue striving to be more and more deserving of every dollar you receive.
The DOJ-NAR probe brings to focus that we should be educating consumers on commission from the get-go. Here’s how to approach the conversation.
Most of us have been asked to reduce our commission for one reason or another. Understanding what’s really at stake and what you want the end game to be will help guide you in making the right call.
A homeowner shopping purely on price isn’t convinced that real estate agents are worth the commission. Here’s the best approach.
When it comes to the commission battle, a lot of agents cave into reducing their fees instead of working to persuade sellers otherwise. Here’s why sellers make this request and how to overcome it.
Being asked to cut your commission is no fun. There are good ways to handle it, and there are bad ways. Here are the ways agents typically defend themselves — and the arguments that are best left unsaid.
Here’s how to differentiate and showcase your value from the get-go at the listing appointment.
Half the battle is knowing when to compete and when to walk away.
Understand and believe in what you bring to the equation, and you’ll be able to speak from your heart and not your head to earn both the trust and business of your sellers.