b-LOG: Do You Want A Chef or a Cook?
We often hear from the general public that they want to deal with the listing agent because they will get ‘both ends of the transaction’ or be paid commission on both ends so (a) they will reduce commission and save the buyers money through flexibility in the purchase price and (b) they will work harder to get the deal done because they’ll make more.
For this b-LOG, we will look at ‘part b’ of that equation.
If you are dealing with a REALTOR that is purely motivated on commission and ‘smacking’ a deal together to get paid more I would suggest you have yourself a cook. Someone who is looking to crank out as many burgers as possible with an insufficient amount of concern for the ultimate meal he or she is putting out onto the diner’s table. Someone who is looking out for their interests above that of their clients.
Sure, this is a capitalistic society where we are all out working to make money to pay for stuff like food and cars and our kids braces. Ultimately that can’t be a prime motivator in this or any industry. Eventually the thirst for the almighty buck will take precedence over doing the right thing (or things) and the wheels will start to fall off.
Yes, you as a seller may have an agreement with the listing agent where if they also represent the buyer, the overall commission payable will be reduced by “x”. But, what if the ultimate purchase price is reduced by “x+y” in order to get that burger out on the table?
You want a representative that is motivated by one thing. That motivation is taking care of your interests. Selling your property at a price and with the ultimate terms as close to (or greater) than what you are looking for. The Chef will carefully plan your meal with strategy, patience and finesse. The Cook will just flip burgers until they look done.
Does your REALTOR list your home in such a way as to limit its exposure in the beginning to help funnel the calls or emails to them? Are they holding off interest or potential leads in order to squeak their buyers or potential deal through? Holding back leads or potential interest only sacrifices one thing which is opportunity. Your opportunity.
Do all REALTORS do this? No, not even close. The vast majority are motivated to do the right thing and exceed their clients’ expectations. The REALTOR that sees this as a career with the objective of increasing referral and repeat clients is the type that you will want to deal with.
So, yes, double-ending can equal more money for the listing agent but there are some important questions and considerations to make.
What is our philosophy? Truthfully and bluntly, our philosophy is that we could care less who sells our listings. All we want to see is our listings sell with the terms and at the price that make our sellers smile.
Plain & Simple!
To find out how we can make you smile, call us and we would be happy to meet up for a coffee or cool drink and have a chat about the local market and your property.
Thank-you for visiting,