Sanford Systems has the best systems for making money in real estate. Sometimes, our clients forget how to stop discounting and to instead raise their “fee.”
This month, we’ll cover five ideas and next month, we’ll share five more. Here we go –
- Raise it.
Before the listing appointment, fill out all paperwork with the new rate and make it business as usual. Scared? Well, make a great listing presentation. Don’t leave until you get the objection. Learn how to overcome the objection. If you have to, drop it back down to your old retail rate but only after much hesitation.
- Email new listings.
Send new listings to your database immediately, hours before it hits the MLS. This is a two-fer: #1 – Keep your database informed with secret, pre-listing information that they are reluctant to spam and in the email tell them to forward this hot info to their sphere. #2 – You make more double ends with new people.
- Institute a cancellation fee.
Many agents allow sellers to cancel listings with a guarantee stating they can cancel if they are not happy with the process. If you offer this guarantee, you will always be worried about offending sellers who are serial cement heads with a bent toward overpricing. You won’t try hard enough to get the price reduction, thinking they are going to cancel the listing.
On the other hand, sometimes sellers have a legitimate reason for needing to cancel, and, as upsetting as that is, you can’t sell a property that the seller does not want sold. Offer them an out and you get paid for your time, while working with a chance to get the listing back. “I offer an ‘any reason to cancel’ clause. It is $1000 in the first month and goes up an additional $500 a month after that. (Adjust for your price range.) It is fully refundable should you ever re-list the property with me and I am successful in contributing to its close.”
- Gain limited partnership as commission.
I carried many of my commissions due from builders as a limited partnership interest in their next project, rather than giving them discounts.
- Skip the discounts.
Instead of discounts, carry your commission as part of any seller carry back. It is better than taking a beating on the amount.
I coach top agents on a limited basis. If you are interested in coaching or a speaking engagement, please call our office at 800.792.5837. Be sure to ask about the half-off sale on our already discounted internet prices for training systems.
Don’t re-invent the wheel. Use 30 years of real estate wisdom and experience to your benefit!
Walter Sanford has been designing and implementing real estate systems for 30 years. One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry. Do what works, do what is proven. Hire Walter Sanford. Call our office at 800.792.5837, email firstname.lastname@example.org, or chat with us online at www.waltersanford.com.