When it comes to commission, real estate agents in the Baltimore Area often need to justify their fee to the potential seller during the listing appointment. Peter Lorimer, a real estate agent, has some great advice for agents when it comes to why they are worth every penny of their commission.
According to Peter -
"If you are an agent who really goes above and beyond, and you know who I'm talking to here, I mean agents who don't do this - "Yes, Mrs. Brown, we'll just take a few snaps (with my cellphone), and we'll put you on the market next Friday." I'm talking about people that hire professional photographers, professional videographers, that do beautiful graphics, that do beautiful websites, and drone shoots. You guys, you're worth every penny."
In other words, a professional realtor knows the value of working with other professionals. Those are the agents who are worth every bit of their commission. However, a seller who chooses a real estate agent based on the amount of the commission is not the kind of client that a professional realtor wants or needs to be working with:
"If a seller's focus is purely how cheap they can get their agent, and you are an agent who prides themselves on going way above and beyond, and giving 200 percent or more, maybe you should walk away from that listing. I have - many, many, many times."
I think that's a difficult, but necessary, thing to do. I know that within my own business not every potential client is an ideal fit for me and what I do, because some of them want a low-cost service rather than a high-value service.
So how can an agent who is using professional photography and outstanding marketing techniques use that to get more listings?
"Those of us who go above and beyond...when you're sitting with your sellers trying to get that listing, show them the videos, show them the 3D tours, show them anything and everything. And above all else, show them evidence of houses you've sold."
This is really smart, because the photography and videography will elicit an emotional response while the number of properties which have been sold will elicit a numbers response, especially if any of those listings sold after an agent who used low-quality photos failed to sell the property. So real estate agents who know that investing in professional photography works need to point out that difference with their potential sellers.
Are you the type of agent who hires professional photographers, videographers and other professionals to assist you with your marketing campaigns?
Or are you the type who prefers to try to do it yourself in order to save money? And, if that's the case, are you prepared to tell a potential seller that the reason you didn't hire a professional photographer or videographer for their home was because you wanted to put a few more dollars into your own pocket?
That would be an awkward conversation - wouldn't it?