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Real Estate Commission We Should Talk About It
Oh yeah, the “C” word… So commonly misunderstood and misrepresented by Agents and by Clients.
I overheard a conversation recently where a Realtor said something like “well X, Y and Z are happening and I’m worried I’m gonna lose my commission.” This is something that we have all heard many times and is the entire foundation of this article.
I am a Realtor, which means the IRS defines me as person who works for commission. I However, DO NOT!
I work for my Clients (this might seem simple and obvious but there is a significant difference) A Broker/Agent that works for commission is in turn creating a monetary scale as to the Value of Each Individual Client.
This practice is irrespective to the entire purpose of our profession.
Understandably this is just a figure of speech... Right?... - OR, is it a Faulted Mindset?
A Broker/Agent that is Truly Valuable and Completely Committed to their actual Duties and Obligations should know that it is IMPOSSIBLE to “lose your commission” .. yes Impossible.!. Why? Because you cannot lose something you didn’t already have.
Brokers and Agents should never work for commission they should work for their Clients!
They should view Commission simply as a byproduct of completing their Duties Owed to their Clients from start to finish without compromise.
The only way a Broker/Agent could lose their commission is if they were robbed on the way to the bank, in which case it would not be lost but rather stolen and the incident would have no connection to the transaction that yielded said commission.
In conclusion: I want to ask all Brokers, Agents and Clients to think about this…
How do you view the above principles?
How do you want your Real Estate Professional to view them?
I believe every person seeking Professional Real-Estate assistance would prefer a Broker/Agent that works for them not for the commission.
For the Brokers/Agents reading this:
If you know that you have a commission check coming for a specific amount of money in 10 days... you are focusing on the wrong item. You should, in this scenario, be thinking about how you have 10 days left to do everything in your power to make sure you take care of your Clients through the Close of Escrow.
Frankly you should be spending so much time and energy worrying about your Clients needs that you shouldn’t even have had the time to calculate the commission that could come from this Agency Relationship.
Take some time to think about this… Are we all providing the full and true service we have committed to? Or are some of us distracted by the “C” word and in-turn Not actually practicing what we claim to be.
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Sean is a very attentive and educated REALTOR. With a background in finance and experience as a senior loan officer. His clients would describe him as extremely committed to serving their best i....