When it comes to asking for a reduction in fees, real estate agents and lenders can sometimes feel like they are between a rock and a hard place. On the one hand, you don’t want to come across as unprofessional or entitled; on the other hand, you don’t want to miss out on potential business. So what’s the right way to respond to the commission cut conversation? This blog post will explore some tips for how to respond when someone asks you this question. Stay tuned!
“Will you cut your commission or reduce your fees?”
Here are two quick ways to reframe that question…
1. That is a good question and before I could make that big of a decision, I would have to ask you a few thought-provoking questions and listen intently to your answers and only after I clearly know what is important about buying, selling, or borrowing to you, could I then better suggest how you can compensate me for my consulting, negotiating and organizing of the details.
2. The question you’re asking me reveals a lot about what you may or may not know about this current marketplace. What you really should be asking is. “What bonus can we be offering to get the local agents more interested in showing their best clients your home so we can make darn certain your dreams come true?”
Never Cut Your Commission or Reduce Fees EVER Again…
The Magic Words Dojo is a place that By Referral Only All-Access members have access to any time they need the right words for any given situation. It is the place that allows you to MASTER the language you need to:
1) To Master Resistance
2) To Get Referrals
3) To Negotiate agreements
4) To Get and Stay Motivated
Here’s a video that shows another way to handle the situation when a client asks for you to reduce your commission.
It can be difficult to know how to react when you’re asked to cut commission, but with a little preparation, it doesn’t have to be a stressful experience. Scripts like the ones we shared can help you stay calm and professional while still getting your point across. And if you need more support, our team is always happy to help.
At By Referral Only we not only want to help you automate your marketing so that you can experience more consistency and GROWTH in your business but we also help you build up your skills so that you always know the right words to say to help, close, negotiate, and feel comfortable asking for what you want.