RealTown's RealTalk

My response is usually: "Changing market conditions, including homes that have come on the market since your home was listed for sale dictate the need to revisit the offered list price. Remember, our joint goal is to get your home sold for top dollar in the shortest amount of time possible. "Top dollar" changes as houses in your area become available and sell...or linger; to do the best job for you I need to keep you aware of what the market will bear. Keep in mind too that because you are paying a commission, price reductions do impact my earning as does longer time on the market; the more time it takes to sell your property the more money I am spending to market it. Let's take a look again at the feedback we've been given from the agents who have shown your home to their clients and see what can be done to make it more attractive to the next buyer who walks in the door..."

"You are counseling your client that a price reduction is needed... and your seller asks if you would be willing to reduce your fee. What do you say?" My response: I'm sorry, but my broker and I have already spent a substantial amount of time and money marketing your property. We just can't stay in business by reducing commissions.

I am curious how other agents respond to the following
scenario. You are counseling your client that a price
reduction is needed. The seller responds that he
feels that he is the only one being asked to give, and
asks if you would be willing to reduce your fee. Do
you have a prepared response? What do you say?
Richard Park

#1. I am taking a reduction in income when you Mr.
Seller reduce your price.

#2. I am still spending the same in advertising as
prior to the price reduction. If fact it is costing
me more advertising, as the property was overpriced
and is going to be on the market longer, (that is if
the seller insisted on overpricing the property).

#3. This is the fee that I charge all sellers and the
service I give all sellers. I do not discount my
commission or reduce my services.

#4. Feel free to contact other agents and see if they
will reduce their commissions, but also see if their
marketing proposal offers you what you are getting
from me. If they can do better than I will be glad to
leave you out of your listing.

Glory Bee Costa ABR, CRS, GRI, E-PRO, SRES
410-745-3241-Home Office
410-310-9081-Cell
http://www.Maryland-WaterFront-Homes.com
E-Mail-Glory@GloryBeeCosta.com
Maryland Counties (Eastern Shore)
Talbot, Queen Anne, Caroline & Dorchester
Prudential Premier Properties - Easton, MD - Associate Broker

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Richard Park asks..."The seller responds that he feels that he is the only
one being asked to give, and asks if you would be willing to reduce your
fee."

I simply tell him that my fee reduces along with the selling price. My
expenses don't drop, my marketing efforts don't drop. Only the payoff gets
smaller, mine and his.

Just my two cents.
Larry
Avon Park FL