I'm sure everyone may have heard it before,
but how do you best handle the objection/
quirk from a prospect seller...

"Could you cut or reduce your commission
if I list with you..." etc. etc.

I just learned this dialog from my broker, who got it from David Knox.

If they bring it up first, then say "First let me show you all that I provide for my customers."

Then after you show them everything in your marketing plan, if they still ask, then ask them which of your services would they like you like to remove?

i offer 3 different plans with 3 different services attached.

i offer 4%,5%,6%...not one person has taken me up on the 4% listing! BUT, if they want it they can have it. it is basically waht Perky is speaking of, but i offer it before they ask me to cut my commission so that they already see what is cut out. the last sale of mine was a 5% (<--my investor who i met through his expired listing) and the one before that was a 6%---both were expireds---

I think there are two dialogs that every agent should know cold:

* Mr. and Mrs. Seller, there are others that will cut their commissions. You may have talked to some. The reason they do is because they don't have the tools I use to help get your home sold. In today's market, that approach will minimize rather than maximize the chance of getting your home sold.

* Mr. and Mrs. Seller, some agents will try to buy your listing by suggesting a price that will sound very appealing. I just ask you to remember one thing: Neither agents nor sellers set the sales price of your home in this market. It will be based on a willing buyer who compares your home to other homes on the market and homes that have recently sold. The price I've given is based on what they will see. I know you might want more. But, I've told you the truth. Someone else may tell you what you want to hear -- enticing you to list -- and count on working you down on price down in the future. I want you to remember that I've been straight with you and that's how I'll work on your behalf.

spot on approach!

one agent I know counter offers a low commission with a really high one!

Example: say she starts out with 7%. Seller says "How a 5%?" so she said "How about 10?" LOL

(numbers cited are naturally just for example purposes and are in no way shape or form meant to indicate price fixing or other sherman issues....)

Tell them that you'll be happy to reduce your commission if they are willing to list below market. That way, you both give something.

What people want is VALUE not the CHEAPEST. Example a bigger takes like crap for 2,pretty good for 3,or awesome for 4.

Most want the 3 dollar burger great taste at a great price. If they are asking you to reduce your commision tolist with you you haven't shown them in there mind you are different and more valuable then the next agent/broker. You need to show them the systems and strategies you use to get results. Tell them listing the home and getting it sold are 2 very different things.

In the end do not take listings that don't fit your business model.You will be glad to turn some listings down and stay focused on how YOU do business.

Sorry meant to say "Example a burger tastes like crap for 2.00,good for 3.00, or awesome for 4"

lol.. I was wondering what the heck : " a bigger takes like crap" meant..

Yes LOL it's been a long week and it's just Friday!

I had this come up last week with a listing. Not only did the seller want to list home @ $40,000 above market, in an area that doesn't get all that much sales, but she wanted me to take a lower commission even though I do more than my competitors do.

I did not have the backbone to stand up to her then - I wish I had. I did call her the next day though and tell her I couldn't take her listing at that price and for that commission.

She didn't seem to care about all the work I'd do to sell her property - I had gone over the entire presentation, and I had presented her with an analysis of sales the day before and she still wanted to list it above market.

Walking away from that deal was difficult - as you always want listings!!! but I'm glad I did and I think the next time I'll be better prepared to stand up to a seller when it happens again (my broker refreshed my memory about the David Knox quote AFTER this listing presentation...lol.)

If someone tries the "Another agents said that he/she will do it for 4% (whatever lower number)"

You reply with, "Well, if you can trust someone who can not even negotiate their own paycheck in charge of negotiating to get you the best price, then go ahead, it is your choice."

Or something to that effect.

^^They may be lying, too. LOL

Had a guy call the office stating that last office he called gave him a quote of x% (which is lower than our minimum). The agent that answered the phone was stunned when he said he wanted an even lower price. She said "If that other office said they'd do it for x%, your best bet then is to go with them, then. Our office minimum is y%, and that is as low as we can go for the services we provide."

All of this comes to my ears AFTER I met with someone wanting to negotiate me down below our minimum. lol

The answer I like best is "no."