I am re-running this post because I am in a sour mood today…
I had a buyer (not my client, I am representing the seller) demand a portion of commission yesterday because HE made a mistake in reading the MLS listing. It’s a long story that I won’t go into, but suffice it to say, I had done nothing wrong and had not misrepresented the house in any manner. The only thing that happened was that HE hadn’t accounted for something in his calculations because HE didn’t read the listing properly. So, why he thinks I should have to “kick in” a portion of my SALARY to “share HIS pain”, is beyond me.
In any event, here is a post I wrote sometime ago, but I think bears repeating…
Realtors Don’t Make as Much as You Think!
(originally posted September 6, 2014)
It’s funny, I’ve been trying to write this post for months and I just couldn’t get it right without sounding angry. It still may sound a bit angry, but this version is waaayyy tamer than some of my prior attempts.
In the few years that I’ve been selling real estate, I have had several clients ask for, hint at and even outright demand a piece of my commission.
I think people feel that a Realtor’s money is “found money” and, as such, the amount we agree upon at the start of a deal can be lowered (at that time or later on in the process) and we, as Realtors, will still have plenty left over. Since it’s “found” money, the amount doesn’t matter…right?!?
For those of you out there nodding your heads in agreement that it is “found money”, how would you like it if your boss told you he/she is going to take $10,000 out of your annual pay because the company feels like using the money for something else? Wouldn’t go over so well, would it?
My commission = My salary
I rest my case.
So, yes, I do bristle when I hear things like…
“My house will sell fast and you won’t have to do much because the house will sell itself, so how about a flat fee instead of a percentage.”
“I can’t really afford that much of a house, but if you chipped in part of your commission, then I can buy it.”
“I need to make a PROFIT on my house, since you have both sides of the transaction, then you will have to chip in from your commission. You’ll still make more than if you only got half.”
Yes, I have had all of the above said to me. Clients telling me why they deserve a piece of my salary.
Also, just to prove why Realtors are worth the money…the client that offered me the flat fee agreed to pay me a commission because I said I wouldn’t be able take the listing if they didn’t. At the end of their transaction, they told me that they now understood why I was worth every penny. They couldn’t believe how much effort went into selling a house.
Hopefully I did not sound as angry as the whole topic makes me feel