04/25/2024
Hereâs something for your customers
Folks, before you go and ask for a discount on your commission from a Realtor, please understand what you're truly asking for them to do... and ask yourself this question: If your boss came to you and asked you to work overtime, but wasn't going to compensate you for doing so, would you do it?
Another day, another person who says realtors are overpaid and an unnecessary part of a transaction. Iâm assuming that those who think this have either been watching too much Million Dollar Listing or think they know how to do it on their own. A few things to consider:
We donât get to keep all the money we make on deals. You see 3% on a $200k home as $6k. We donât. That commission is paid to us:
- Before taxes
- Before broker splits
- Before marketing
- Before board dues
- Before office bills
- Before all the other costs of doing business
Out of whatâs left of our checks after all this, we can then begin paying for everything else. But wait, thatâs not all!
We donât get afforded a lot of the things you enjoy at a 9-5 job. We donât receive:
- Employer healthcare
- Employee matched retirement accounts
- Paid vacations
- Weekends off
- Nights off
- Maternity leave
- Bereavement pay/leave
- Company car
We pay for all of this out of our own pockets.
Yeah, there are some realtors married to people working company jobs who receive some of these benefits. But the vast majority of this support our families on whatâs left after our benefits are spoken for.
Yes, we did choose to sell real estate. Itâs a career which allows virtually uncapped growth and income potential. But we also have to be available at any time of the day when needed. Whether itâs showing homes at 7pm, writing offers at 11 pm or doing final walkthroughs at 6am. Weâre there when weâre needed.
So before you tell another one of us we make too much money and arenât really needed anymore, I encourage you to do this. Get your real estate license, start lead generating, find clients who trust you. Make sure you know not only what goes in the blanks of the contracts, but also what the promulgated parts of them say. Learn what happens once you write a contract, and what vendor partners are a good fit and whoâs a scam. Try and keep deals together when theyâre about to go south with critical thinking skills while staying within legal parameters. Educate the clients about whatâs gonna happen after they close and what to expect in the couple years to come. Then listen as others tell you the money youâve been paid is too much and they could do what youâve done.
Exhausting, isnât it?"
