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#454240 - 08/31/16 04:38 PM How Much to Charge For Showings?
D_Champ Offline
Junior Member

Registered: 05/15/16
Posts: 2
Loc: Washington
I am a fairly new agent, and I still do open houses and showings for other agents at times.

This weekend I am showing 7 homes, all in the 500-600k range, for another agent and I don't know how much I should be charging for this. I want to ask for a fair price, but I don't want to ask for too much and risk my relationship with this agent.

Any thoughts?

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#454244 - 09/01/16 12:53 AM Re: How Much to Charge For Showings? [Re: D_Champ]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
The Listing Agents are probably expecting you to be doing Open Houses for "FREE", thinking that you'll get to keep any leads that get captured by you (for yourself). Do a good thorough job at this, and provide good counsel to these visitors . . . . it will reap dividends later.

Doing showings for others (around here) is also done on a contingency basis and could be expected to produce the equivalent of a small Referral Fee for you (maybe 10-20% of the selling side) "IF" one of the showings results directly in an Offer that you write up; or at least begin to write up.

I'd suspect that the Listing Agents who are allowing you to perform these functions have very low expectations that anything tangible will result . . . . otherwise, if they smelled money, they'd be doing them themselves.

That's my thought; I wouldn't expect anyone to be handing you a check up-front in either case . . . . unless your market is substantially different from mine, and people there are much more charitable than they are here. Nobody gives anything away around here.

They are giving you the opportunity to acquaint yourself with the Real Estate Offerings currently in your market while you're doing something meaningful for them; but I wouldn't expect to be paid in money.

Ask some other newer "local" Agents how they were compensated when they offered to perform these functions in your area, and what made it worthwhile to do so when they were starting out . . . . and how they knew when the activity had run its course for them.

Good luck !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#454247 - 09/01/16 10:33 AM Re: How Much to Charge For Showings? [Re: Vermont]
D_Champ Offline
Junior Member

Registered: 05/15/16
Posts: 2
Loc: Washington
I definitely do open houses for free almost always, there's no way around that, but house showings I do get paid for.

I should have specified, I am actually showing homes for a buyer's agent's client this weekend - 1 client, 7 homes. I will get paid for this, because there is really no way for me to earn anything from it on my own.

I'm thinking about asking for 10% if the buyers decide to go with one of those 7 houses - since she is out of town and I might end up with more work. Otherwise, just a flat $400 for my time.

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#454252 - 09/01/16 02:32 PM Re: How Much to Charge For Showings? [Re: D_Champ]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
Originally Posted By: D_Champ
". . . just a flat $400 for my time . . ."

So how's that calculated . . . . $100 for the 1st showing plus $50 for each of the additional 6 homes ?

That would be pretty generous; has it been agreed to ?

And you'll get that $400 NOW, regardless of whether an Offer/Sale results ?

Charging wouldn't work here; but if it works for you in your market . . . . go for it !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#454718 - 09/27/16 02:25 AM Re: How Much to Charge For Showings? [Re: D_Champ]
VAagent Offline
Member

Registered: 05/20/16
Posts: 11
Loc: Virginia
A large team in my area is offering $20 an hour for showing agents. They also pay a flat $100 to agents to work their Open Houses, which I've also seen elsewhere. We are in northern VA / DC market area.

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#454719 - 09/27/16 03:14 AM Re: How Much to Charge For Showings? [Re: VAagent]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
Originally Posted By: VAagent
". . . They also pay a flat $100 to agents to work their Open Houses . . ."

Do the Agents also get to keep the Leads generated from the Open House, or do those go to the Team ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#454729 - 09/27/16 09:03 AM Re: How Much to Charge For Showings? [Re: Vermont]
VAagent Offline
Member

Registered: 05/20/16
Posts: 11
Loc: Virginia
[quote=Vermont][quote=VAagent]". . . They also pay a flat $100 to agents to work their Open Houses . . ."[/quote]
Do the Agents also get to keep the Leads generated from the Open House, or do those go to the Team ? [/quote]

So far I've always been offered to keep leads from an Open.

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#454733 - 09/27/16 01:18 PM Re: How Much to Charge For Showings? [Re: D_Champ]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
And by opting to accept this Fee for conducting an Open House, are these Agents making themselves ineligible for earning a Commission if an Offer were to result from their efforts in the Open House ?

Around here, upstart Agents would probably prefer to "think positive" and not accept that token Fee in lieu of the chance at a bigger Piece of the Pie !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#454748 - 09/28/16 04:54 AM Re: How Much to Charge For Showings? [Re: VAagent]
VABroker Offline
Veteran Member

Registered: 11/02/10
Posts: 1042
Loc: Virginia
And the key words are, "So far...." I will always remember Fox Mulder..."Trust no one."

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#457095 - 03/28/17 01:56 PM Re: How Much to Charge For Showings? [Re: D_Champ]
Chrispy Offline
Junior Member

Registered: 03/28/17
Posts: 8
Loc: Florida USA
I don't have too many listings of my own so I do lots (every weekend)of open houses for other agents in my office. They are always grateful and usually are begging me to do theirs. I don't charge them but because they are desperate some offer cash ($25) or a gift card etc. Our rules are the buyers are mine to keep, and the listing agent places an ad (about $40),with my picture and contact information in it.

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#457097 - 03/28/17 02:41 PM Re: How Much to Charge For Showings? [Re: D_Champ]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
What do the Listing Agents get out of it . . . . just warm fuzzies from the Sellers ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#457608 - 05/02/17 08:38 PM Re: How Much to Charge For Showings? [Re: D_Champ]
Barbara Herbert Offline
Member

Registered: 04/18/17
Posts: 31
Loc: Grove City, Ohio, United State...
If you are just new to this, it is always better to make it free.
_________________________
http://barbaraherbert.com

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#457641 - 05/03/17 02:45 AM Re: How Much to Charge For Showings? [Re: D_Champ]
WolfHouse Offline
Member

Registered: 04/03/17
Posts: 37
Loc: Winter Park, Florida (United S...
Ok, I'm in REI, but isn't this all you guys as agents are really doing? Listing/showing
_________________________
Wolf Wants Houses in Florida

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