All That Work, and No Pay!

Are you a real estate agent who is tired of working long hours and longer weeks in order to make a sale that often will not happen? Here is a quick round up of some of the common things realtors will do in order to market a home:

Property evaluation. More and more realtors are offering free evaluations of property to entice potential clients into the fold. The return on the investment of time these evaluations often take can be miniscule. Although they are officially a part of marketing your business, they should still be factored into the costs of your practice. Preparing a CMA. Comparative market analyses take a lot of time to set up and get accurate, there are a lot of details involved! Pricing assistance. Depending on the client, this can be a real time eater. Some people insist their properties are worth much more than is reasonable, and it takes a lot of gentle reasoning to help them see the light, if they ever do. Taking pictures and video. We all know that visuals are the most valuable tool in today's digital age, and taking those images is another time eater. Posting. And then, of course, you have to get all that information into the MLS and up for everyone to see.

Now, you are finally ready to start showing the home. You do so faithfully, but it's a hard market, and one day that listing finally expires. No sale. And for the traditional realtor, that means no money.

That's a lot of wasted time and effort, and we're not even considering houses you could take on which would have sold in the mean time.

Well, offering work a la carte, flat fee, or as a consulting service can ensure you receive compensation for your efforts, whether the house sells or not. The first fee in consulting is almost always the non-refundable fee paid to the brokerage to place the property on the MLS. That money is pocketed right away, and that means you don't have to worry about a sale in order to make your money.

After the upfront fee is paid, it's up to the seller to decide what other services she needs from the consultant. It's a win-win scenario, with the agent making money and the seller saving it.