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Answer Upon - Real Estate Commission - A Corrupting Influence
In trading the stock market, no-one has a crystal ball. The price of stocks can go down, as well as up. What is needed is an exit strategy that will enable you to survive the bad stocks, and make a good profit on the good stocks. The method that I have found to work the best is a trailing stop loss. For those who don’t know what a stop loss is, I shall explain briefly. A stop loss is an order for your stock broker to sell yo
At the listing stage the real estate agent may use improper means to win the listing contract. These include over-quoting on valuation, and offering dodgy sales figures.
During the sale process the real estate agent may be tempted to tell potential purchasers things that are untrue. I have seen many sale contracts with clauses designed to protect r
You only have three seconds…Connect in under a minute…People decide if they like you within the first ninety seconds…Make the sale in the first five seconds…You get the job within four minutes…Always make a friend in less than 30 seconds…Ahhhhhhhhhh!! Which one is right!?I’ve read almost every book on first impressions, and the primary issue addressed tends to be time. (Or lack thereof.) Unfortunately, past rese
Another way of looking at it is to say that the real estate agent, through the wording of the listing contract, effectively has his name added to the title deed of the vendor’s property, so that the real estate agent becomes a part-owner of the property. When the property sells, the real estate agent receives a payment that represents his share in the vendor’s property.
Most readers will be aware of the arguments in favour of real estate sale commissions, so I won’t discuss those here. My focus is on the ways in which the sale process can be skewed against all parties involved, when the motivation to win a commission takes precedence over more important considerations.
Commission is a “winner-takes-all, loser gets nothing” situation. This increases the pressure on the real estate agent to secure a sale. Time is also a problem. If the real estate agent cannot secure a sale within a time acceptable to the vendor, the vendor may take the property off the market, or away from the real estate agent’s agency. This will result in a total loss for the real estate agent.
Finally, the vendor becomes an obstacle between the real estate agent and his commission goal. In order to receive payment for his share of the vendor’s property, the real estate agent must receive an offer to purchase within the available time, but the offer must be accepted by the vendor. If the vendor decides that the offer is not acceptable, then the real estate agent loses.
In order to win the gambling game that is real estate sales, the real estate agent may decide to tip the odds in his favour – and there are numerous ways in which this can be done.
At the listing stage the real estate agent may use improper means to win the listing contract. These include over-quoting on valuation, and offering dodgy sales figures.
During the sale process the real estate agent may be tempted to tell potential purchasers things that are untrue. I have seen many sale contracts with clauses designed to protect re
While many companies establish new business promotions, few devote an equal amount of energy teaching employees techniques to do a better job of retaining customers.Try this: Go back to your customer rank report from 1996, just ten years ago, and take a look at your top ten customers. How much does this top ten list differ from your top ten list in 2006? Odds are, few of these high volume customers are still on your to
Most readers will be aware of the arguments in favour of real estate sale commissions, so I won’t discuss those here. My focus is on the ways in which the sale process can be skewed against all parties involved, when the motivation to win a commission takes precedence over more important considerations.
Commission is a “winner-takes-all, loser gets nothing” situation. This increases the pressure on the real estate agent to secure a sale. Time is also a problem. If the real estate agent cannot secure a sale within a time acceptable to the vendor, the vendor may take the property off the market, or away from the real estate agent’s agency. This will result in a total loss for the real estate agent.
Finally, the vendor becomes an obstacle between the real estate agent and his commission goal. In order to receive payment for his share of the vendor’s property, the real estate agent must receive an offer to purchase within the available time, but the offer must be accepted by the vendor. If the vendor decides that the offer is not acceptable, then the real estate agent loses.
In order to win the gambling game that is real estate sales, the real estate agent may decide to tip the odds in his favour – and there are numerous ways in which this can be done.
At the listing stage the real estate agent may use improper means to win the listing contract. These include over-quoting on valuation, and offering dodgy sales figures.
During the sale process the real estate agent may be tempted to tell potential purchasers things that are untrue. I have seen many sale contracts with clauses designed to protect r
With all the shuffling that’s been seen in the search engine world within the last year, the issue of obvious optimizing has become a hot button. The current line of thinking is that most engines (especially Google) are on the lookout for sites that purposely make an effort to optimize their pages in order to get high rankings. While this theory has not been proven, I agree that obvious optimization is not a good thing. Not ex
Commission is a “winner-takes-all, loser gets nothing” situation. This increases the pressure on the real estate agent to secure a sale. Time is also a problem. If the real estate agent cannot secure a sale within a time acceptable to the vendor, the vendor may take the property off the market, or away from the real estate agent’s agency. This will result in a total loss for the real estate agent.
Finally, the vendor becomes an obstacle between the real estate agent and his commission goal. In order to receive payment for his share of the vendor’s property, the real estate agent must receive an offer to purchase within the available time, but the offer must be accepted by the vendor. If the vendor decides that the offer is not acceptable, then the real estate agent loses.
In order to win the gambling game that is real estate sales, the real estate agent may decide to tip the odds in his favour – and there are numerous ways in which this can be done.
At the listing stage the real estate agent may use improper means to win the listing contract. These include over-quoting on valuation, and offering dodgy sales figures.
During the sale process the real estate agent may be tempted to tell potential purchasers things that are untrue. I have seen many sale contracts with clauses designed to protect r
Whether you’re looking to grow your business, or reduce current overhead, it’s important to find a business consulting solution that works for you. Every year, thousands of businesses start up while thousands of others fail—often because business owners try to brave the path of business growth and overhead reduction alone, without even considering the potential effects of inviting professional business consulting companies to lo
Finally, the vendor becomes an obstacle between the real estate agent and his commission goal. In order to receive payment for his share of the vendor’s property, the real estate agent must receive an offer to purchase within the available time, but the offer must be accepted by the vendor. If the vendor decides that the offer is not acceptable, then the real estate agent loses.
In order to win the gambling game that is real estate sales, the real estate agent may decide to tip the odds in his favour – and there are numerous ways in which this can be done.
At the listing stage the real estate agent may use improper means to win the listing contract. These include over-quoting on valuation, and offering dodgy sales figures.
During the sale process the real estate agent may be tempted to tell potential purchasers things that are untrue. I have seen many sale contracts with clauses designed to protect r
When team members clash, disaster strikes. Project deadlines are missed, HR referees team members, the boss is angry for a week, and the raises everyone expects vanishes in the face of discord.These clashes typically occur because the team’s personalities get in the way. Each team member has their own unique personality mix which contributes to their ability to communicate, work under stress and make decisions.
At the listing stage the real estate agent may use improper means to win the listing contract. These include over-quoting on valuation, and offering dodgy sales figures.
During the sale process the real estate agent may be tempted to tell potential purchasers things that are untrue. I have seen many sale contracts with clauses designed to protect real estate agents against the consequences of false statements. Known as “porkies clauses”, they invariably state that the purchaser acknowledges that any information provided to the purchaser by the real estate agent is provided on the understanding that the purchaser will not be relying on it for any purpose.
When a purchaser has submitted an offer, and the purchaser cannot be convinced to increase her offer, the real estate agent may be tempted to pressure the vendor into accepting what would otherwise be unacceptable. Observations, such as “the market has softened” or “the market has spoken to us” are used by real estate agents to convince vendors that the real estate agent’s high estimation of value can no longer be relied upon, and that the vendor should now accept what the vendor believes is an unacceptably low offer.
For some years now, I have been arguing that real estate services should be provided on a fee-for-service basis.
I will explore the replacement of real estate sale commissions with a fee-for-service structure further in future articles.
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