When a prospective seller asks you to lower your fees and "list for less", you'd better respond with confidence. It could be a test of your negotiation skills.
Prepare by asking yourself this question, "what do I do that not only makes me the seller's best choice but also makes me worth a premium to my competition?
In other words, what are you worth, and why are you worth it?
Some agents charge as much as 4% for their side of a listing while others charge as little as 1%.
A 1% reduction can translate into huge savings for a seller, so you’d better be ready to justify your worth when a seller asks why you charge more than the other agent they are considering.
You know how hard you work and what your services are worth, but if your client can’t see the difference between you and your competition, they will not want to pay one dime more to list with you.
Sellers are driven by convenience and security. They want assurance that you can get the job done quickly and easily.
Your track record is evidence of what you have accomplished.
The number of sales you have completed in the area, your list to sales price percentage, your average days on the market, your marketing plan, etc. will all come into play in the seller's decision.
Know your numbers and have documentation ready to support your claims.
Because if you can't differentiate yourself from another agent who charges a lower fee than you, then the only way you will win the listing is to lower your fee.
That will quickly become a "race to zero" and you will never scale a business following that strategy.
Why are you worth 3%?
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