Commissions: What Gives You the Right?
By Verl Workman “What gives you the right?” Today’s consumer is asking this question, and companies outside of our industry are answering the call. What gives you the right to charge the commission you charge in this business? Some agents are worth every penny they charge and more. Others don’t bring enough value to the transaction and, therefore, aren’t deserving of a significant commission. The problem is that the consumer has a lot more experience with the mediocre than the exceptional. In this world of discounters, disruptors and deal-seekers, it’s on us to change the narrative. The only way to do that is to get better at our craft and then learn to communicate our true value proposition to today’s buyers and sellers.Let me start by posing a few simple questions to think about:
- What can I do differently to justify the commission I charge and actually be worth it?
- What would my promise to my clients have to be?
- What would my level of service have to encompass?
- What impact would I have on the lives of my clients?
- What must I do today to provide this level of service?
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