for W3c validation
No. Of course not. You’d rather only pay for the time someone actually spends on your specific business transaction.
Tonight, I came across this post about commissions in Zillow Advice and it caught my attention, and in particular the following two excerpts (for different reasons).
The first relates to the reality of overhead in any business, it was by Dunes:
6% of a $700,000 home is $42,000
Do your most common I have to split with yadda…$10,500 for each Agent (Buyer/Seller) and each of the 2 Agencies
Pay for Marketing? and your marketing is? Cost what?
Time? What time? doing what? You figure your time is worth what?..Why?
When Robert pays $42,000 (Agents say the Seller pays right?) he isn’t interested in compensating you for time you spent on other Clients that did not work out..
He’s paying you for the time spent ON HIS Business Transaction, your decision to work under the Compensation arrangement you have is YOUR Problem and…If (Agents/Realtors) do not change it, improve it, better justify it that’s their problem….not a reason Robert should pay $42,000 to a Real Estate Agent/Agency to sell his property
Now, I’m not going to sit here and debate whether it’s worth paying $42,000 in commissions on a $700,000 home. That’s neither here nor there. But what I do want to point out is that the fact of the matter is that with ANY business, overhead is built in to the cost of services rendered. Real estate is no different than website design and development in that regard. Overhead in both cases includes spending time with potential clients who end up not paying a nickel. Do you want to pay for that time? No, but do you have a choice? Unfortunately, not really. Clearly, not every person we speak with at Virtual Results ends up paying us for our services or advice. That’s just the way the world works, and it sucks, but there’s not much we or anyone else can do to change it. With any business, there is a cost of acquiring clients, and that time/money has to be built into the cost of services rendered somehow. Please just accept and deal with that fact.
The 2nd is this dandy by wehelpubuy:
The MLS auto populates dozens if not hundreds of websites and social media is free. I had an open house today and 20 people came through. All I used was signs, the MLS, Facebook and Craigslist. Cost = Zero
I already put my thought on this quote on Twitter, but wanted to repost it here as well. Anyone that thinks social media is “free” is clearly smoking something. Time = money. That’s always been the case, and always will be. Everyone needs to be adequately compensated for their time; real estate agents are no different. Social media done right takes time — and a lot of it. It’s NOT free and never will be so long as a human being is involved. And when there is no human involved, it’s just SPAM (which means non effective) in 98% of cases.