Vendors don’t want you to drop your fee, they don’t know it yet

negotioation Aug 29, 2020

A constant battle as a Real Estate agent is protecting your fee. In an industry where agents are prepared to drop their fee to win the business, it’s difficult to protect your income.

As a Real Estate trainer and coach one of the first areas I work on with agents is protecting their fee as this is one of the quickest ways to increase income. One of the first steps in doing this is changing an agent's belief that a vendor doesn’t actually want you to drop your fee, they just don’t know it yet.

Most vendors try to negotiate the fee with you as they believe a cheaper fee equates to more money after the sale. However, an agent who negotiates their fee is only proving poor negotiation skills. Ask yourself this - if an agent is willing to do that with their money, what will they do with a vendor's money when negotiating with buyers? Will they have the skills to extract the extra ten or twenty thousand dollars from the buyer?

I believe an agent's fee is an investment. An investment in achieving the highest price. The difference in an agents fee may be one or two thousand dollars, however the difference in the prices those agents may be able to achieve in the sale of the property could potentially be a lot more.

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