You get what you pay for…

Rona, maybe it’s not a question of what qualities sellers are looking for, but a question about how they are compensating their listing agent.

How motivated would the average person be to work on their own jobs if they had not been paid in 203 days, 251 days, or 716 days — the listing periods mentioned for three of the four condos described above?

Maybe the deteriorating customer service you describe will begin a discussion about how to compensation agents — whether buyer agent, seller agent, or  non-agents — to best serve their respective clients. 

More than a decade ago, the former chief economist of the National Association of Realtors predicted that:

"The next major revolution in real estate will be fee-based services replacing the blanket commission pricing that has dominated the industry for so long."

Do you think consumers would get better service if they compensated their agent by the hour, instead of commissions paid at the closing table?  (Before you answer  that question, consider this fact:  there were nearly 30,00 expired and canceled listing in the last three months of 2008 alone, which means that a lot of listing agents effectively volunteered to work on overprice listings.)

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