Don’t be a cheater…

I don't go head to head with other REALTORS for listings very often. Mostly, I work from referrals, but the other day I arrived and found out I was being compared to another REALTOR. I did my best dog and pony show, and at the end I asked them to make a decision. That was when I was caught off guard. The people said they would make more money using the other REALTOR. So, I explained that reducing the commission usually results in less service, and in this market it was not a great idea. Then they surprised me by saying, "No you are charging the same commission." So, I assumed the other agent was recommending a higher price, and I explained that anyone can overstate the value to make the return look better, but my comps were based on reality not wishful thinking. Then they surprised me by saying, "No they are recommending the same price as you." At this point I was curious. So, I asked if I could look at my competitor's net sheet. Almost every closing cost was understated by 40-50% (including taxes, recording fees, and promulgated title insurance rates). I then sat back very confident, and said "Well you should use me because I am not going to lie like this agent has." Another listing is in the coffer.