Bill, You are one smooth operator! I've found that whenever I take a stand on my personal ethics, it usually works out to my benefit in the end.

[Bill's brilliant buyers said: we have already done MOST of the leg work for you]

LOLOLOL! Cuh-LUE-less!

Good job Bill. We establish our value and stick to it. Then we prove our value by our service. Excellent.

Good for you Bill.  If they wanted that sort of deal, they should have found the company that provides it.  Looks like they really wanted what you have to offer.

I've been making a stand with sellers lately, too.  Don't want to list it for the price I suggest?  NEXT!

Thank you!  It is nice to see that professionals are standing by their skills and ethics!  In the age of information the general public has this inflated belief that they now know as much about our business as we do.  It is great to see that there are many of us who will not reduce our worth in a desperate attempt at landing a deal.  Thanks Bill!  

Good job drawing them out...  California.  Ha!

I used to say something like:

You know, I don't blame you for asking, and you can probably find an agent who doesn't have much business who will do that for you.  I guess they know what their services are worth or not worth.  On the other hand, I can promise you that my experience and expertise will actually put more money in your pocket, today and at resale time, than what you are asking me to do.  So - What's more important to you?  Getting half the commission back, or getting the best price on the right house?    

Nice job, Bill. You did not budge and it appears they respect that in the end. Perhaps you also called their bluff in a way: they thought they could lure you into half commission but really they knew it was a long shot so when they saw you stand firm they realized you meant business. Again, good job!

Brian Wilson, Zolve.com

Bill, that reminds me of the time that I worked with a buyer who wanted to procure the property next to the one they purchased. It was not listed, and the owner needed to be located.

Mr. Buyer told me, "Oh, and I expect you to do this for me for x (teeny tiny x) percent SINCE YOU WON'T HAVE TO DO MUCH THIS TIME!"

I told him, "Sweetie, I don't have time now but when I do we're gonna have a conversation about why that's not gonna happen."

I later found out he attempted, unsuccessfully to locate the owner so he could buy it solo.

He didn't know how to find out what I did . . . that the property had a tax lien on it, the owner was institutionalized and an agent in my office owned the lien.

You don't know what you don't know . . . I heard that on the radio last weekend and that is so true!

Way to stand your ground, Bill!  Most of the leg work?  That's just the beginning.  Tell me how many partners in law firms would really appreciate making the hourly rate that a new associates.  

Looking up properties on the internet nowadays is so simple people think that's all there is to buying a home.  Finding the property is just the tip of the iceberg.  Way to stand up for your principles and yourself Bill!

Ok, pushed button too fast there.  

Again, do you think that a managing partner in a major law firm is willing to make the hourly rate that a new associate in a small law firm makes?  The consumer may or may not recognize the knowledge and years of education that a good Realtor brings to the table yet some factor in "I can get a deal with another Realtor - maybe one that is starving."  No offense to the Realtor that doesn't apply or bring the skills, knowledge and expertise to the table but I do want to get paid and not discount.

In my oppinion it appears that if you use Mr. Dugans script you may end up installing cable TV's, since you have to walk the walk as well as talk the talk.

Bill, Great job.  It amazes me how many buyers or sellers think that they can find a Realtor that would negotiate hard for them, when that Realtor can't even negotiate for his or her own paycheck!

Tony

Good point Tony!

Nice Job, Bill.  I like Tony's take, too.

Exactly Tony, know your worth.  Bill congrats on getting two clients.

Bill, excellent job, thanks for standing up for our profession. We are professionals and deserve to be paid for our time and efforts.

"Some patients are very knowledgable about various treatment otpions and new medications as a result of their own research.  Do you only charge them half your normal fees?" I love that question and her response.

Your Tax dollars at work !

Rebate Calculator

Use this calculator to find out how much you can save when the buyer’s broker offers a rebate.

http://www.usdoj.gov/atr/public/real_estate/rebate_calculator.htm

Save Hundreds of Dollars on Discount Attorneys Fees for Consultation or Work in Your Personal Injury Insurance Claim

http://www.settlementcentral.com/page0038.htm

Thank you Bill!! I think that sums it up, yup, it does.

Another option to consider is to have your buyer clients sign an Exclusive Buyer-Broker Agreement with a set fee.  You could offer to rebate any amount over that fee received from the seller.  On the other hand, they would have to make up the difference if seller offers less.

I've never had a customer ask me to do that.  I guess I've been lucky so far, but now I know what to say, lol.  

Hello. The Mississippi Real Estate Commission handles rebates for us :-) The DOJ doesn't seem to appreciate that much as cited in:

http://www.ftc.gov/reports/realestate http://www

Mississippi Agents have to be VERY careful about closing gifts even--we could be in serious trouble if a gift were considered an "Inducement"

as in: The Fall issue of the Leader (Our MAR magazine)

http://www.msrealtors.org/PDF/RELeader/Fall07.pdf

If the buyer is dependent on agent rebates, can they truly afford the home?

Bill, I am completely lost on this subject of rebates. I would rather give a rebate to a home buyer than a referral fee to some agent or company that sold me a lead that should have been mine to begin with. Vance explained in part the way he runs his rebate program. It is not a business model I can implement any time soon. First, because my state looks upon rebates as kickbacks but they really need to think of referral business that way. Second, his wide area of sales seems to work just like a referral system. Didn't I just get done saying how I don't like the referral programs? In his defense, I see that in "new" construction a program like his for rebates is really a pretty smooth operation. Is that another angel getting his wings, or, a cash register?

I guess I just wanted to hear your thoughts on the business and where we are heading. Residential sales has always been different from commerical and with Vance it seems like some third dimension from the twilight zone. Some like time share sales and commerical real estate tied to residential sales. Can we seperate, or, combined the models? So, if you get a chance to give it some thought, I'd like to know where you think this business is going.

Thanks and put something on under that kilt.

Well, I won't pay for watered down whiskey, Bill.

The new president of NAR in the year 2019 will be a kilt wearing Texan and the installation banquet will be followed by a dance. The lead singer for the rock group at the dance will be a Realtor named Candice. The group's name is "Candice and the Closers". Be there!

http://youtube.com/watch?v=8kOs3J0a2aI

Yippee, another paid gig! LOL

LOL! So Bill, as the incoming NAR Prez, what special perks will the band get?

We have a 'needs list' and I'll have our manager send it over!  :)

are you guys making fun of me? I'm telling!!!!

Bill, kudos to you.  I am in the middle of a similar situation with a seller with regard to repair issues.  After I get over the shock of him asking me to give up my commission to make his deal work, and we actually have a dollar amount to negotiate, we are going to have a conversation that greatly mirrors yours.  I don't believe that any of us should be asked to work for free.  I will post again when I get through the negotiations.  It should make for a great read.      

Amy, I learned a really great and very effective negotiation tack from a really sharp broker a while back:

If the seller tries to get you to kick in commission, tell them if they can't afford to do the deal then perhaps they should walk away.

It sounds harsh at first but it works.

Your fee was already agreed to when you listed. A deal's a deal. :)

Candice, you are right.  I agree with you completely.  I'm beginning to think that the seller is getting close to the edge of not being able to afford this.  Thanks for the advice.