Selling Poinciana One Property at a Time.: How to Take Advantage of Struggling Real Estate Agents

How to Take Advantage of Struggling Real Estate Agents

tutas towne realty


Hi folks. This article is a response to,"How to Take Advantage of Struggling Real Estate Agents, as a Seller". I was going to write a post to address many of the comments about "I'll show any listing regardless of commission" and "I always put my client's interest first" but then I realized I had already written that post. So here it is.

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Are you being honest with yourself?

First posted 2-24-2008


Here's a little scenario for you.


"Hi Broker Bryant. We saw your ad in the paper and would like to list our property with you."

  • Excellent!! I'll be right over.


So, I head over and give them my little spiel and they want to list with me.

 

  • OK folks sign here and here and I will get your property up and running on the market.


"But Broker Bryant.....how much do you charge?"

  • Folks, I am bound by the REALTOR® Code of Ethics that states: "When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary" Since your best interest is getting the property sold with the least costs to you I will leave the commission up to you. If I didn't do this I would be putting my interest and livelihood ahead of yours and would be in violation of our CoE. So just pay me whatever you want.


"Well that sounds great Broker Bryant!! You're the bomb!!"

  • Yes, I am. Commission does not matter to me at all. I'll gladly work for free if it is in your best interest. That why I'm a REALTOR®. Make sure and tell your friends too.


"But Broker Bryant....don't we have to offer the other agent some money to show and sell our property."

  • Yes I'm afraid you do. Our MLS will not allow a property to go into the system unless we offer the selling broker compensation.


"How much do we need to offer?"

  • Well folks remember the other broker will be a REALTOR® too and is bound by the same CoE that I am: "When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary" So why don't we just offer them $1. Most REALTORS® don't look at the commission anyway. They just want to get the best deal for their Buyers. The co-broke doesn't really matter. In fact, if they don't show your property we can bring them up on Ethics charges.

"Broker Bryant....we are soooooo glad we called you. You have far exceeded our expectations. No one has ever explained your ethical duties like this before. We'll be sure to send you lots of referrals!"

  • Thank you folks!! It sounds like my job here is done!!. Before I leave can I borrow a fiver to pay for my gas home? THE END.

 

Sounds foolish doesn't it? Well if you feel we have to show every property regardless of the co-broke then this is exactly what you are implying. Or does your incorrect interpretation of the CoE only apply to Buyer Brokers?


If you are telling your Sellers that Buyer Brokers must show their property regardless of the co-broke you are harming them and in fact may be in violation of the CoE. And if you are telling them that Buyer Brokers, who do not show their property, are acting unethical and illegally then you are wrong and may very well find yourself in front of an Ethics Committee.


But, by all means, if you CHOOSE to show all listings, regardless of the co-broke, you are free to do so. Personally, I think you are fooling yourselves. It is your business though. Just know that you do not have to do so. Of course, you do need to have this conversation with your Buyer.


Whay say you?

 

 

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 Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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Comment balloon 6 commentsBryant Tutas • November 23 2012 04:55AM

Comments

BB,

Try as I did when I opened my own offices, I could never get rid of the single family listing!

When they ask about my fee their response was something like this:

"10%! The market is 7 to 8% and we saw an ad for 5%! 10%! Why?"

My response was always the same. "Why did you call me?"

Regarding the MLS, we offered 4% to the selling office because that’s the most anyone offered! We paid 4% to one of two residential offices who’s sign would be on the property. (I was an associate broker with both.) I kept 2%, I set the price, terms, and sat in on all presentations to the sellers, the other office reported to me twice a week.

You can never justify your fee! They either see your value or they don’t. You can and must justify offering top market fees to the selling office, they do look at their compensation !

Again, "Why did you call me?"

I never succeed at getting rid of residential listings.

Bill

Posted by William J. Archambault, Jr. (The Real Estate Investment Institute ) over 5 years ago

I always go back to the one thing agents can always do - chose to NOT do business with someone.  The lack of respect given agents seems to always come down to commissions and the perception of easy money.  The few times I run into that, I can always just tell the client "sorry, not gonna work with you".

Posted by Bryan Robertson, Broker, Author, Speaker (Intero Real Estate) over 5 years ago

Bryant - yep, it is silly, but how wonderful the the sound of BS is for so many agents.

Posted by Jon Zolsky, Daytona Beach, FL, Buy Daytona condos for heavenly good prices (Daytona Condo Realty, 386-405-4408) over 5 years ago
Bryant, when this comes up I ask my sellers to choose between two jobs, both equal work and equal outcome but one pays less than the other. I've never had one choose the lower paying one.
Posted by Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living (Tropic Shores Realty - Ich spreche Deutsch!) over 5 years ago

Can't believe there are so few comments. Is it because of the Thanksgiving? I thought threre would be tons of comments.

Anyway, I am suggested.

Posted by Jon Zolsky, Daytona Beach, FL, Buy Daytona condos for heavenly good prices (Daytona Condo Realty, 386-405-4408) over 5 years ago

I agree with #1. They see your value or they don't. If they don't, they don't want to pay you. If they do, they will pay you whatever you ask for.

Posted by Inna Ivchenko, Realtor® • Green • GRI • HAFA • PSC Los Angeles CA (Barcode Properties) about 4 years ago

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