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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (6706)11/13/2002 10:56:21 AM
From: TradeliteRead Replies (3) of 306849
 
Discounting has been going on everywhere for years, and it's fine for those who value lower fees. Trouble is, the firms that use this business model never seem to get much business or market share where I live.

Could be that most top-producing agents who do real estate full-time and expect to make a living at it won't work for a firm that offers limited service to clients and agents in exchange for lower fees. And there's no reason for good agents in my area to join companies which don't do much business in the area--if the buyers and sellers don't call you, you won't make any money. They generally don't call real estate firms that do not have a significant number of sale and sold signs in the area.

The three pages of recruitment material I received recently in the mail emphasize how this one broker doesn't mind and actively recruits agents who only do one or two deals a year and who only want to work part-time. It's hard to convince the sellers and buyers in my area that they should deal with a company full of part-time agents.

If it was possible to do a good job in that business part-time, I'd be doing that now. However, it's easier to maintain a sole-proprietor broker license, which entitles me to collect referral commissions, and refer buyers and sellers to an active agent who is more up-to-date and knowledgeable about the market and any of the gazillion rule and policy changes that affect the industry continuously. It's better for the clients, too.

In many respects, people who think they're negotiating commissions are actually negotiating the level of service they expect to receive--at least in my part of the country.
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