Confessions of a real estate agent

One Sheep Please

img_one-sheepImagine you’re planning to cook a lamb on the spit.  A Greek delicacy.  You visit your local butcher and ask him for a lamb and he replies: “Sorry, I’m all out of lambs but give me $500 and I’ll go to the market tomorrow and get you one”.

 

You hand over $500 and you revisit the butcher a day later to pick up your lamb.

The butcher says:

“Bad news about the lamb, they didn’t have any.  So I spent your $500 on advertising for one and that didn’t work either.  I guess you’re out of luck”.

No doubt you wouldn’t accept this and you’d ask for your $500 back.  The thought of paying money for no result is nothing short of madness.  Yet having to pay a real estate agent thousands of dollars upfront to advertise your home (without the guarantee of a result) seems to be standard practice in the real estate industry.

Ask yourself:

Why do agents ask sellers to pay thousands of $$$ upfront for advertising?

Is it to promote the house or themselves?  I wonder.

If an agent recommends an advertising campaign for your home (and most homes do require a professional marketing campaign) the agent should pay for this campaign.

Professional marketing should be complimentary for the seller.  Isn’t this the agents job anyway?

The message is simple:

Only pay when you get the result that you want.  Why should you pay for no result?

No lamb = No money.  End of Story.