Menu Programs and Brokerages

Times in the realty market have changed, and we think that's for the better. Today's market is all about offering clients more options, instead of conducting real estate business in the traditional way.

Many agents and brokers who have been in real estate for a long time take a fatalistic approach when embracing these changes. They see the writing on the wall; sellers are no longer going to be satisfied with the standard 6% commission, and adapt in order to survive.

While facing the inevitable is one way to look at the use of innovative new approaches in real estate such as flat fee services and menu programs, most people feel better about change if they truly embrace it. There are some definite benefits to brokers and to agents in utilizing menu programs to attract customers and sell houses.

In order to truly understand those benefits, think back on your last half dozen transactions. Odds are good that there were some aspects you truly enjoyed, in fact took on with little or no thought to the actual cost, while other aspects felt like pulling teeth. You may have loved installing a door on a house to give it the perfect look for a buyer, but hated multiple showings a day. Explaining the concept of a mortgage may have felt like it took half a day, while closing a deal out flew by.

With a menu program, you have some flexibility in the jobs you do for a client. Instead of a one size fits all package, you can design a program which charges separate fees for different parts of the transaction process. Menu programs set up a specific list for agents and brokers to follow; you may decide to charge for a ten showing package, for example. No more showing a hard to sell house 20 times a month until the buyer finally lowers the price!

Menu programs also offer agents and brokers the chance to highlight their specific areas of expertise, and charge accordingly. If there's a job in the transaction you do particularly well, charge for it and explain the price in the terms.

Menu programs are a good sell for potential clients, but they have significant benefits for the realtor as well. It's nice to know that in today's market, we all have options.