Sales Strategies

By CRB, Real Estate Business Magazine, June/July 2006

Sales Meeting Ideas for Managers, Brokers and Owners

Overcoming the Commission Objection

In a time when customers have a vast pool of resources at their command, the do-it-yourself trend has infiltrated every aspect of modern life — from drawing up your own prenuptial agreement to building your own Web site. Real estate has not escaped this paradigm shift. The proliferation of FSBOs, discount brokers and Internet sites such as Zillow.com appeal to our society's individualistic tendencies and love of a perceived bargain. While the do-it-yourself movement may not abolish full service real estate agencies, let's not forget the cautionary tale of travel agents. Managers, brokers and owners need to face the issue head-on. They owe it to their agents to provide some education on: a) truly understanding their value as service providers and b) translating that value to consumers.

The Commission Myth

Let's say your agent meets with a FSBO prospect, hoping to get him to list with your firm. After 30 minutes of listening to the prospect explain why real estate agents are irrelevant, your agent beats a hasty retreat with his tail between his legs. In another example, an agent is well into her listing presentation with a seller. She reaches the inevitable moment where the seller asks how much she charges. The question hangs in the air like the Goodyear blimp. Once again, your usually poised agent finds herself defending her fee.