Feb. 4, 2008 - Real Estate Editorial In Central Massachusetts

Lately, I find a growing number of consumers wondering what is it that they receive for letting us sell their home. Today, home sellers have many options when it comes to hiring an agent or selling as a "for sale by owner". The most professional and experienced of the real estate community should have no problem justifying a 6% commission. In these times of competitive tactics by other agents and online discounters, I yearn to impress upon my customers the importance of service and the detriment of the lack of service in what amounts to be the biggest financial decision of their lives. The real estate business is interesting and mind-boggling to the consumer. Where else does a newly licensed agent make as much as a seasoned professional? When consumers don't know what they get for their money, how can they make the educated decision?

Each service provider (no matter what the business) has a value standard of their services based upon their expertise and knowledge. Many, like myself, know that they provide this service well beyond the minimal industry standard. They refuse to compromise the value of their service- and rightfully so. Once the service price is discounted, it is likely that the client will perceive that the value is not really held to the standard. When the home owner does not see the value of the service, he or she wants a reduction in fees. To explain what it is that I do for my clients, I have created a short list of duties I perform for my seller clients during the course of the contract. Since in a typical transaction there are two agents, the agreed upon fee is generally split in half. Therefore, I am performing the below list of responsibilities on behalf of the seller for my fee of 3%. The other 3% is offered to the agent who brings in the buyer.