Does Commission Really Play an Important Role on How you Choose a Lakeland Realtor®?
Are you a subscriber to Consumer Reports? I always like reading the reports and the various tests on auto, appliances, computers and such. The September's issue I received a couple of days ago released a survey, it's based on the Consumer Reports National Research Center's recent Annual Questionnaire of 3,753 readers who sold or tried to sell a home, 4,029 readers who bought one, and 7,368 readers who did both during the past few years. According to September's issue "Paying a real estate agent a lower commission had no overall effect on the selling price." This survey compared consumers that negotiated a commission vs. consumers who did not attempt to negotiate the commission. But what was surprising to me in reading this article was that overall independently owned brokerage firms who likely provided the fewest services, but sellers who used them were just as satisfied.
How should you choose your Realtor®?
- Experience
- Marketing Plan
- Listing Agreement
Granted the three attributes I pointed out do play an important role in choosing a Lakeland Realtor®. Nevertheless, I would want to make sure that my real estate agent has great communication skills, listening skills and is trustworthy.
Communication skills are necessities for a Realtor® - communication between a seller and his or her Realtor® is the foundation of a successful relationship. Talking with sellers on a regular basis while the home is listed, giving them feedback on showings and activity, being accessible when Sellers have questions and just being there would be very helpful.
Listening skills is just as essential as communication skills. There are some real estate agents that tell buyers and sellers what they think they want to hear. Genuine honesty will go a long way and will build a relationship between a Realtor® and his or her seller. Understanding what a seller is saying is hearing what the seller is really saying.
Trust is earned. Trust can be build over time by talking with a potential listing agent and checking out their references before signing a listing agreement. Trust can also be given as a test by giving an assigned task and it must be continuously proven over time.
There are Real Estate Agent shoppers out there, who only look at the commission as their only argument for hiring. Are you one of them? Did you know that there are also Real Estate Agents out there who only 
show homes with a certain commission split?
Negotiating a commission is part of the listing agreement. An agent should provide you with a marketing plan that fits your neighborhood and your needs, which should be clearly discussed before you sign the listing agreement. There are agents that will negotiate the commission and there are agents that simply don't. I will not argue the negotiating here in this post and that is not the point I want to make. Also, it should not really play an important role on how you choose a Lakeland Realtor®. As long as the attributes are there and you are satisfied during the course of the listing period, why does commission play such an important role in choosing a real estate agent? You always can fire your real estate agent if you're not satisfied.
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Does Commission Really Play an Important Role on How you Choose a Lakeland Realtor®?
Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker - P.O. Box 92050 - Lakeland, FL 33804-2050 - Telephone (863) 618-6919
Managing Broker - CDV TransAtlantic, Inc.
(863) 619-6918
You have made excellent points on how one should select a realtor. However, there are those who based most of their decisions strictly on price, or cost. Despite the fact that we both know that is not a rational basis for making a decision. Nevertheless, it is the mindset of many. We all know the bottom line is you get what you pay for. Overall a seller should look at the services he is getting for his money, one may pay less commission but are they getting value.
Paul - I appreciate your comment on this issue. In the end value is determined by the seller, whether or not he is satisfied with the service he received.
Petra - I think in this market many sellers have had their homes listed with more than one agent. For them, they just want the job done! Everyone likes to save money, but not necessarily at the expense of quality service. So what if a lower commission is negotiated, but you don't get your phone calls returned promptly (or not at all), you don't receive market reports, you don't know what your agent is doing, there's no communication. You end up feeling the person you contracted with doesn't care and that's a lose/lose situation. The Consumers Report won't help this sagging market, but I'll stand behind my commitment to be accountable to my sellers. I can't fix the market but I can be there to help make some sense out of it. Oft times, just being there and showing that you genuinely care is enough.
Gail - you are absolutely right about being there and show that we as Realtor care as well as responding to phone calls immediately can make a big difference in this market. I always follow up with my clients continuously and keep them up-to-date about the current market.