The Six Degrees Of Separation From Your Real Estate Commission....

By
Real Estate Agent with Hometowne Realty Clayton East

The Six Degrees Of Separation From Your Real Estate Commission....

There are a myriad of ways you can be kept from your commission and a multitude of vultures all hovering over it. Here are the six degrees of separation that can all have a diminishing effect on your commission.

The Listing“Wahoo I have a listing, I’m getting a commission check!”WRONG! you have a listing. This is when you start to spend money. Signs, flyers, brochures, blogging, pictures, measuring time, caravans, open houses, cookies ( which you will eat yourself, and then  you will need to buy a gym membership....more $$$)

The Showing“ We have a showing! A showing, son of a gun we are getting a commission check!”
WRONG! A showing is the first opportunity  for your sellers to come face to face with the harsh reality that their house is not everyone's dream house and you have to tell them. This is a shoot the messenger type of situation. “nice house it would work but it’s too far my client” “Why’d you show it then, you dink?”

The Offer“ I’m sending over an offer when I get back to the office”  “Yeah ha! Mr and Mrs Seller we’re getting an offer, I’ll send it over as soon as I get it, start packing!”
WRONG! Insert the sound of crickets here. Check your email again, check your fax machine, check  your voicemail, is my internet not working? I can get on The Daily Mail Site...let me call her one more time. Now call your seller and tell them there is no offer.

The Contract“ I knew it was going to be a good month, damn I’m good!”
WRONG! What you don’t want to close for sixty days? Sixty days, why? Why?...I gotta eat! Yep 30-45-60 days to close and a LOT can happen in  30-45-60 days, a LOT!

The Inspection This is a really well taken care of house, they won’t find anything. WRONG! “there is a what now in the crawl space?”   So, Mr and Mrs Seller you’ve been doing all the repairs to this house yourselves.....for the last twenty years, and badly it turns out.
What should we do, repair everything, repair the dangerous stuff, not repair any of it and risk it, or should we reduce the price ( this is when the magic commission reducing calculator should appear right in front of your eyes), buy them a warranty???

The Closing, “Holla!” I smell a commission check TODAY!  
WRONG! The appraisal came in low, there is a lien on the property, there is a right of way, there is a sinkhole, (all your fault by the way). Remember all Real Estate Closings have to happen on Friday, that way the buyers and their four kids, two cats a German Shepard and a terrapin can experience sleeping in a UHaul  for the weekend while the attorney goes to the beach. “At this point all I want is my commission check, please Mrs Attorney can I have my  check?” It’s Friday, you race to your admin person to try and get it into processing. SLAM too late they left, it’s Friday remember so you go back on Monday, then wait for the call or text which might come on Wednesday, if you’re lucky  I have your check ( minus the brokerage, printing, office, BS fees)  …........now that wasn’t so bad was it?

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Rainmaker
600,430
Nancy Conner
Managing Broker - City Realty Inc - Olympia, WA
Olympia/Thurston County WA
Oh so hilariously true!! In real estate, it's definitely not over until you get the call that the deal is recorded - and then, like you said, that commission check is STILL not in your hand!
Jul 28, 2012 08:47 AM #1
Rainmaker
1,262,306
John Pusa
Sellstate Pacific Realty - Glendale, CA
Your All Time Realtor With Exceptional Service

David - I am not convinced until the money deposited in my bank account. Thanks for detailed list about the six degrees of separation from real estate commission.

Jul 28, 2012 10:47 AM #2
Rainmaker
720,697
Gene Mundt, Chicago-area Mortgage Lender - www.genemundt.com
NMLS #216987 - New Lenox, IL
708.921.6331 - 37 yrs experience

David:  Excellently written and conceived post!  Definitely a good read for agents ... or anyone in our industry.  It rings all too familiarly ...

Featured in BananaTude!

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Congratulations!!

Gene

Jul 28, 2012 11:36 AM #3
Rainer
111,038
Caprice Couselle Realtor Morristown Homes For Sale
Keller Williams Realty - Morristown, NJ
First Time Home Buyers,Relocation,Horse Farms

David,Very entertaining and very true.Anything can happen after you turn in your listing paperwork and plant your sign. That moment of competency and success must be savored.No matter how fleeting . Before the bloom is off the rose. Caprice

Jul 29, 2012 03:43 AM #4
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Rainmaker
309,139

David O'Doherty

Clayton NC Homes, Raleigh, NC
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