Real Estate Commissions...Buy 1, Get 1 Free
Misc.
I saw a videotape a few years back by Lou Holtz, Former Head Coach of the Notre Dame football team who quoted John F. Kennedy. Holtz said (and I paraphrase) that when John F. Kennedy was asked if he would seek the nomination for Vice-President of the United States, he responded no. Kennedy said that once you settle for 2nd best, you never shoot for the best again.
This stuck with me since I heard it. Now, years later and working with many new Realtors, I am often faced with the question of commission. Agents are presented with Sellers who want to pay very little for their services. I Tell them NO! Don't do it. If you short sell yourself and your own customer service, you will never get the full value of what you are worth. One tactic for experienced agents is to ask the Seller what their profession is. When they tell you, you ask them if they would do it at half of their salary?
This is tough for a new agent with their confidence not yet fully developed. Agents have to learn that it is important to hold their ground. For many Agents, talking about commissions and money in general is the hardest thing to do. My father told me a story when he was a young attorney just starting out. He always looked older than his age and went on an interview with a Law Firm. The interview went very well and they were impressed with him and then came the question of money. The firm asked him what kind of money was he looking for and being uncomfortable, he said $20,000. The position paid $40,000 and the firm realized that he was not as experienced as they had thought and the job was not offered.
This story illustrates that the commission question can be tough at first but it all comes back to what you are going to do for the customer. Stay strong and believe in who you are and what you are capable of. The rest will come in time.
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Date: Thursday, October, 25th 2007 @ 02:00:03 PMViews: 425
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