Try these strategies the next time a prospective seller asks you to cut a deal on your commission.
- Ask why. The obvious reason is to save money, but a seller’s answer could give you insights into other options you can offer that have nothing to do with commission, such as the length of your listing agreement.
- Show your worth. Explain the services you provide that sellers would find tough to navigate on their own, such as comprehending each party’s responsibilities in contracts and addenda.
- Detail the data. Share statistics about your success rates for sellers. If a prospect finds out your homes sell more quickly than others or typically get top dollar, they may see the value in your fees.
- Throw in some freebies. Offer free services useful to sellers, like a visit with a home stager or time with a handyman. These services may cost you, but not as much as lowering your commission.
- Just say no. Don’t be afraid to decline. Undervaluing yourself before signing a listing agreement isn’t a great way to start a new relationship. Spend your energy finding sellers who are on the same page instead.
These tips appear in the July Texas REALTOR® magazine. Read this issue of the magazine online for more information relevant to your business.