Let me tell you about my second transaction many years ago.
A friend of mine had a small home she needed to sell and had already tried the do-it-yourself route. She ran ads in the paper and put up flyers in her neighborhood, but no one had been to look at it. This was back in the dark ages before the internet and websites changed the world of real estate, so her choices for getting the word out were limited.
My friend, who knew I just started in real estate said..." that she would like to use me but there was no way she could afford the commission. She needed every penny." My reaction: "You can't afford NOT to use me"
It took some convincing before I was able to show the net "in her pocket" amount. She trusted me and she agreed.
Where I got the chutzpah back then, on only my second listing, I don't know, but I priced the property above what she was asking on her own. I knew what her bottom line was and I added the fees and closing costs. I did flyers and print advertising and of course the MLS. And after only a couple of showings, we had a full-price contract!
And today, it still works. Not long ago I listed a condo that the owner had tried to sell by himself...but couldn't. He thought I was crazy for increasing the price by almost 20%, was sure no one would even look at it. You know what happened. Yep, full price contract, 30-day settlement.
When talking with a seller, whether they've tried to sell on their own or not, I always ask one important question. "You tell me what you need from the sale, your bottom line; if I can get that for you, what difference does my commission make?" The answer is, of course, that the commission is not really the issue. What matters is that the sellers receive the payout they want and need.
One of the nicest results is that these sellers - who were skeptical to begin with, want their friends and family to use me. And many times they also become my friends.
You can't afford NOT to use me!
Baltimore,Md
Margaret, I also, always get he sellers to concentrate on the bottom line, whether listing or negotiating an offer. Nothing else matters. It really does make things easier.
Hope you are doing well:)
Margaret great points we set our own value to our customers by giving the best advice! Good points hope your husband is doing well.
This is the type of client that brings repeat business and refers friends and family!
I loved the way you used the word Chutzpah, and it seems like everybody understood...Are we going now for Hebrew lessons? ...LOL. And yet you have a good point right there. Shabat Shalom.
Eli www.AbsoluteFloridaMortgage.com
Margaret,
The objection is almost always the very reason they NEED us, isn't it?
Seller: "I can't afford to pay the commission"
Agent: "Then you can't afford to make any mistakes. You can't afford to do this on your own"
I'm trying to get a FSBO to list with me right now and after reading this I might try your way and go for the glory!! Thank you Margaret
WOW a gold star and 20 comments! You guys know how to make my day. :-)
Some great comments from:
Trevella,great name.
Byant:you always get IT.
Teri, I value you also and thanks for asking.
Tony, it makes sense.
Monika Mcgillicuddy,ooh I love that name. Friendships are formed through out our careers.
Thanks, Suzanne, Michelle,Sabine and Rob.C
Judyann,Eli and Chris, I am still using that Chutzpah every day.
Vicky, as my friend, I get lots of wonderful notes and referrals,from her.
Jaccqui, it does work!
Caron,Carol,Sharon and Ryan, I like all of your comments. Can't afford to make any mistakes. Ryan let me know if you get the FSBO. Sharon,you can never explain too much.Caron, it is a good line!
Theresa,If they don't have enough "wiggle" room to pay a commission they may not be able to afford to sell their house. Please feel free to call me if you would like to discuss.
Thanks for your comments and I think that is pretty special that your buyer is writing a blog. Good job and creative use of AR.
I wrote you off line with my cell phone number.
www.homerome.com
"The Lovely Queen Margaret"
I get it too. I am just late because AR was going in and out of space yesterday. Lord. Just a thought...I know I can't afford not to use you. LOL. Hope all is well. BTW...Thanks for all your help and support...
TLW "The Lovely Wife"...Say Hi to Hubby...ROAR!
TLW, I know YOU get it! Thanks for your support this past week. I still can't figure out how you can keep up with all the comments. It is not humanly possible. You are a tough act to follow.
In making the statement, "You can't afford not to use me" we make the statement that we believe in ourselves and our capabilities. I know there is probably only 1 person in all the world that would be interested enough to be motivated to buy a certain listing of mine but I took the listing because I believe I will be the one to be able to find that buyer.
If we don't believe in ourselves, the consumers out there won't believe in us either. Great blog, Margaret!
Rob, Thanks for your comments; we do need to believe in ourselves first.
Christine, I would love to work with you and as a former R.N. your point is well taken.
Here is another post that is on this same topic. Take a look
Real estate commissions - you get what you pay for!
Margaraet.... you are absoultely correct in making that statement. I use it often when helping my clients with their financing.... they need to hear certain things and they need to focus on the bottom line. For some reason, some of the general public has this opinion that we charge to much when they see our fees. But don't truly understand how this business works.
I like your approach.
earlier this year had two listing appointments on the same day. Both clients did basically the same thing to me and they did not know each other.
Both of them had the estimated commission from me and two of the discount agents in the area. They said you are asking a lot of money. My response: I am the most expensive in the area and I will make you money.
I got both listings and have received referrals from both clients. What we charge is not important. What value do we bring is.
Jeff, Adam and Eddy, thanks for your comments.
Randy, when I am asked about my commission, I sometimes reply: "I can almost guarantee that I will be the very highest in this area, in this state and maybe even in the country." Adam , you have to be positive and quite confident to say that.
Here is another post that is on this same topic. Take a look Real estate commissions - you get what you pay for!
Steve, Leo and TLW, thanks for the comments.
TLW "If you ain't the lead dog, the scenery never changes."
Tracy, I think we all bring our tools from our past and make use of them in this wonderful real estate business. You can see this by reading so many of the AR blogs and how diverse our backgrounds are.
TLW,Someone gave me a small plaque for my desk, with that saying, when I first got into the business. There are some very graffic photos depicting that phrase. I have a feeling you will find one.
www.homerome.com
Baltimore,Md
Here is the quote:
Life is like a dogsled team. If you ain't the lead dog, the scenery never changes.
- Lewis Grizzard
I will look for a picture for you.
Thanks Jay and Francy! Good luck with your marathon post.