I have a really powerful way to have an honest conversation about commissions with a seller.
This is a great script from one of my top producers.
Here's what he says: "Hey, listen, here's my listing fee. My listing fee is [X, which could be 2.5%, 2%, 3%, or whatever number you choose.] I'm not trying to price-fix here. But what we really need to talk about is what we're going to pay the buyer's agent. We need to look at this as a marketing incentive to get buyer's agents to show the property.
To help you make a decision on what to offer the buyer's agent, I recommend doing a commission map survey. Put a pin on a map and look at every listing that sold within a certain radius, such as a mile, five miles, or half a mile. Of the listings that sold in the area in the last six months, you can see what commission they offered to the buyer's agent.
Based on that, you can decide where you want to be. You...
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...
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