When a homeowner hears on the news that it is a “Seller’s Market” out there, they make a lot of assumptions. They think it means their home, on their street, in their neighborhood. They think they will get more than the property is worth. They think it will be easy and they don’t need representation or professional help.
When they realize they do need representation and professional help, they still think it will be easy for the pro. So, not surprisingly, they will ask you to cut your fee. After all, you don’t have to work as hard in a Seller’s Market. Right?
Remember that they have realized they need you. How did they get your name? Another happy client? Maybe from an ad for a home you SOLD…. Know your value and demand it. One of my favorite responses in the Cut Your Fee discussion is that other REALTORS will cut their fees because they have to. If you aren’t worth it, you may need to cut your fee in order to compete.
If you are worth it, be prepared to defend it. Why are you worth it? What are you going to do for them, specifically? How much will you likely save them? What about all the work/time/$$$ you put into their property with no guarantee it will sell? Do you get paid if you don’t sell it? Who is taking the risk here?
Don’t be offended by the question. It’s normal for a person to shop for the best deal. It’s also normal for them to compare quality. When I’m shopping for shoes I don’t buy the cheapest. I buy the prettiest that won’t hurt my feet and will last the longest. I think that saves me money in the long run.
If you’re a great REALTOR providing excellent skills and advocacy for your client, you are the best value. You save them money and time in the long run.
Cut your hair, not your fee.
leighyork 