One conversation that can come up as you're out there taking listings is, of course, centered on commissions.
And here's a great script to help your sellers look at the commission, not just cost, but as a marketing incentive to encourage showings and to encourage more offers.
So the script kind of goes like this:
"Hey, Mr. And Mrs. Seller, one thing I wanna talk to you about is the commissions that we charge. Now, I charge a listing marketing fee of X [fill in the blank, whatever you're charging]. And all we have to decide now is what we're gonna pay the buyer's agent. Now there's a little secret sauce here that a lot of people don't understand. Which is, that marketing fee that we're paying to the buyer's agent to bring that buyer in can actually incentivize them to show your home.
"Let me show you an example:
"I did a commission survey in your market area where your home is. I went out about a mile two miles, and I looked at every listing that sold in the last six months. And I've also pointed out to you here on this survey, what they were paying, what those folks were offering in terms of a commission and also how long it took them to sell. Also I noted how many price reductions they did over that same period of time. And I just wanted to share with you what I found. It's pretty interesting.
"Here's what this person was offering. Here's what this person was offering and this person and this other person and this person. So we could kind of do what everybody else has been doing. Kind of average it out here. Or if you wanna incentivize these buyers agents, especially in a changing market, we might want to add a little extra to it. Maybe help take your listing from just being one of the pack to one of the ones that are gonna show first potentially, right? So just a thought there you're, you're in charge, you're in control, but let's have a conversation about it and see what's right for you."
That's my script for what I'm talking to sellers and get them rethinking that the commission isn't a cost, but a marketing investment to try to get more offers.
As the market shifts and changes, we're gonna have to start to open up and have more of these conversations that will help sellers understand the power of marketing and the different things we can do to incentivize buyers and buyers agents to come look at their home.
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