Invasion Of The Commission Snatchers!
We’re often asked to direct people to this popular blog posting from last year…so here it it…re-posted…for your enjoyment and edification…
It never ceases to amaze me how a small but very vocal minority of realtors feels an absolute sense of entitlement to their 2.5% selling commission. And, as a result, how they stare down their noses, point fingers and let out a shrill of discontent as if they had just landed a starring role in a remake of Invasion of the Body Snatchers. All scowls and comments, of course, aimed directly at fellow realtors who happen to offer the same services as they do, but charge significantly less.
If you belong to this collective of modern day space cadets, here’s a news flash just for you: The needs of the few (insert your name here) do not outweigh the needs, wants or desires of the many (insert most realtors and home sellers here). I know, I know, call me an ignoramus or an ultra maroon, but that’s how it works, Sparky. Really.
Who Knows Where They’ll Turn Up
I recently attended a conference for real estate professionals that dealt with the effective use of social media in real estate; much like what this blog is doing right now (grin). When I happened to mention the raison d’être for OneForAll.ca; connecting home sellers with top brand realtors who charge only 1% selling commission, the reaction was as swift in its attack as it was merciless in its intensity. It was as if I had just kicked someone’s prize Chihuahua dog, though why anyone would ever prize a Chihuahua, or even classify one as a dog for that matter, is beyond me (case in point – Paris Hilton’s rat). But alas, I digress…
Back on track…
There’s No Stopping Them
If I may be so out there as to make a suggestion to any realtor who wants to charge their full 2.5% selling commission: Please go right ahead. There’s no one stopping you. You are completely within your rights to charge whatever you wish. RECO (Real Estate Council of Ontario) basically states it right in the Real Estate and Business Brokers Act (Section 36-1). In fact, why limit yourself to a measly 2.5%? I say go for the whole enchilada (for the uninitiated, that’s Chihuahua talk) and charge 7% or even 10% selling commission! After all, the world is your exclusive oyster, right?
An Alien Concept
But here’s the thing, though. On this little green planet in general, and in the real world specifically, charging whatever you wish means you have the choice to charge either up or down. That’s kinda the concept there, Astro. So for all of the hard-working, top brand and industrious realtors out there (aka, the many) who offer the same quality service, expertise and marketing resources as you, but do so at a cost that’s somewhat less…errr…significantly less…uhm….ok, many thousands of dollars less than you, I say bully for them. And I repeat: Them, as in Not You. While this may not fit in your unique space-time continuum, their reasons are just as valid, though maybe not as noble (grin, again), as yours.
It’s the old “what’s good for the goose is good for the gander” argument – except that their gooses are producing golden eggs (read: nest eggs) for home sellers everywhere, while you’re just taking a gander. So stop already. Before blubbering on about how others are running their businesses, might I ask that you simply mind your own? After all, if someone wants to sell their home and give you buckets of cash more for the exact same services as what they could get from your competitors, I’d be the first to tell you to usher those peas into your pod just as fast as humanly possible.
I believe it was the great P.T. Barnum who once said “There’s a sucker born every minute”. So, there you go, Alf. You’re obviously in very good company. Good for you!
Take Me To Your Leader
I know we’re going to get lots of star-crossed, and mostly just plain crossed, comments on this one. But for all of the home sellers who are tired of watching commissions fly into the stratosphere, and for all of the low commission realtors who are only too happy to offer their services at a less than astronomical price, we welcome the feedback, and will respond accordingly. Thanks for reading this latest installment of The Top 1% at OneForAll.ca.
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