When it comes to your service, how do you determine your "price"? Are you willing to be flexible on your commissions? Do you offer some clients more service if they pay you a "full fee"? Do you knowingly give some people less service if you agree to a lesser fee? If so, do the clients understand what they won't be getting when it comes to marketing, systems or service?
Everything is Negotiable
Now this post isn't intended to say that Realtors should never agree to a lower commission. Commissions in real estate are never fixed and are usually negotiable between the broker and the client(check your local laws and statutes). Sometimes, in certain situations, it might make good business sense to lower your fee. Just make sure you are making a logical decision and not an emotional decision.
It may be wise to remember that some people naturally or psychologically may gravitate towards the most expensive things on the menu as well. Not everyone is looking for the cheapest service or product if it doesn't provide the value they desire.
What is your value?
- When someone asks you what your fee is, how do you answer?
- If someone asks you to reduce your fee or "do it for less," how do you respond?
- When the negotiations start to get tight, is your future commission "on the table" to help make a deal or do you keep the discussion between the Buyer and Seller?
Do you Believe?
As this is the 'Season of Believing,' maybe it's also the perfect time for you to appreciate your skills, service, expertise and all the things you and your broker do to help your clients achieve their goals. You are worth what you are charging and probably then some. Stop dropping your fee for those coupon cutting, discount seeking clients and instead, believe that you are the one item on your clients list that they can't live without. When that happens, your value just went up. They will drive across town or stay up all night to get you.
Have a great week building relationships, solving problems and having fun.