Your Bottom Line or Your Bottom Dollar?

Many agents are tempted to slash their commissions when they are confronted by a seller who objects to paying all but the barest of fees. These agents are often so attached to the outcome of gaining a listing that they forget or fail to learn how to convey their true value to their clients.

Consumers and many agents alike need to consider that in markets that are predominately buyer's markets, sellers truly need full service agents who are creative and well versed in technology to sell their homes. Consider the fact that there are generally multiple properties for each qualified buyer in the market, so the seller who wants their property to sell for a reasonable price and in a reasonable time needs that above average agent.

I am a firm believer in providing value to my clients, and I am also a firm believer that someone who does above average work should be compensated for it. If you want to buy kitchen cabinets, you can drive down to Lowe's or Home Depot for them and pay one price, or you can get custom cabinets made exactly to your desires for a higher price.

If an agent embraces technology, utilizes creative marketing, and focuses on getting their properties sold rather than just waiting for someone else to sell them, they can command a higher fee. This is set off by the fact that these agents also generally sell their properties for HIGHER amounts. For example, my local MLS averages show that properties usually sell for 97% of their asking price, but the last statistics I pulled for my team showed that our properties sold for an average of about 99% of asking price.

Agents - if you can justify your value, DON'T cut your paycheck! You deserve it for your hard and knowledgeable work.

Sellers - Don't just willingly pay someone a large amount of money for selling your largest asset - but once they show you that they are the ones with the highest value proposition, pay them what they're worth, and pay them gladly. Your bottom line will reflect your good choice in the end.