Did I Really Hear This From NAR? - Good Service at Reduced Commission? Posted on August 6th
Just when I’m thinking that the National Association of Realtors is adhering to the party line to the detriment of the members, a nugget appears in my gold pan! In a very short article, NAR states that sellers want lower commissions. Well maybe they don’t say it just like that, but it’s there! Surveying more than 9000 sellers, here are some points:
- “those who paid discount real estate commissions and those who paid commissions of 6 percent were equally satisfied”
- “…sellers who paid the full commission were more likely to express regrets about he transaction process, with…”
- “33 percent believing they should have aggressively negotiated the fee.”
- “Of the 46 percent of sellers who engaged in commission negotiations, the survey shows that 71 percent succeeded in lowering their rate.”
So, we can just continue to force those willing to “barter at the flea market” to do so, while charging the timid sellers full commission rates. OR…might we offer alternatives, such as tiered commissions for graduated service levels? Will you be on the leading edge of a new real estate representation service delivery method? Or, will you be wondering what happened to your listing business in a couple of years?
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