Not sure what to say when asked to cut your commission? Learn to have those sticky conversations with ease by following these veterans’ tips.
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“Cost is a concern when there’s a lack of value,” said Smita Singh of REAL Collective powered by eXp Realty, as she opened a panel discussion titled “An Agent’s Guide for Navigating Tough Conversations and Maintaining Your Commission,” moderated by Kendall Bonner.
“I’m not a tour guide. I’m an expert at what I do and if that’s who you want, you’re going to get it.”
Each of the panel members roleplayed with Bonner to show how they would discuss commission with a seller looking to negotiate compensation. In each case, they provided their rationale for keeping their commission intact, ranging from the impact on marketing budget to the data to support their value proposition.
Next, they roleplayed buyer conversations around interest rates, inflation and economic concerns, including the idea of putting off buying due to higher prices. Alternatives they offered to buyers included new construction incentives, rate buydowns and other problem-solving solutions.
Watch the panel’s entire session via the video at the top of this post.
Christy Murdock is a Realtor, freelance writer, coach and consultant and the owner of Writing Real Estate. She is also the creator of the online course Crafting the Property Description: The Step-by-Step Formula for Reluctant Real Estate Writers. Follow Writing Real Estate on Twitter, Instagram and YouTube.