A Deal A Week
Protecting your commission-Homework from commission boot camp
S - What is your comm fee?
A – My fee is 3%. I suggest you pay the selling agent between 2.5-3%
S- I thought I’d pay you the same as what everyone else is charging-5%
A – Before we discuss the comm any further, have you decided that we will be working together?
S- I think so, the marketing plan is comparable, the price we already established. I like you and I feel I can work better with you
A-Are you saying that aside from the comm you would list with me today?
S-Yes, I think so
A-Is comm your sole criteria for selecting an agent?
S- of course not, but the less I can pay the better for my pocket book
A-let me ask you a question, what is more important to you? Saving the 1% comm or netting more money for the sale of your home?
S- of course both!
A-Lets go over what determines your net. There are 3 factors that affect the net: 1) closing cost- apprx 1% 2) comm-approx 6% 3) sales price-approx 93%. Would you agree that the final sales price will net you more?
S-yes but I want the 93% plus the extra 1% from the comm. That is SusieQ’s standard rate-5% and she is the biggest agent in town.
A-May I ask why you did not hire her?
S-I feel she’s too busy and my house will not get the attention
A-I understand what you mean. The top agents charge 5% because they deal in volume listings. They don’t necessarily focus on getting you the most on your bottom line and also not pay enough attention to detail. However, I do.
S-That’s great. That’s why you’re here. But I just can’t see the agents making more than me.
A-So what you’re saying is you want to save $5000 to net more.
S- yes
A-let me ask you another question, do you believe that an agent’s ability to negotiate is going to affect what you will eventually put in your pocket?
S-what do you mean? How so?
A-You had mentioned that one agent offered you 5 % commission upfront. They might be thinking 6% but they don’t even bring it up. Why? Because they are playing it safe and don’t want to negotiate the issue with you; the other agent said to you their commission is 6% and you asked- how about 5%? and she did not put up a fight. You, Mrs. Seller, just out negotiated your potential agent!
S-What do you mean by that?
If an agent is willing to give up and concede their own money, how strong could they be in negotiating for you and the equity on your home? Are these the type of agents you want negotiating for you when an offer comes to the table?
S- No, but all the offers will come to me and I will make the decision
A-of course, you will. However, when the agents start calling on your home-I am the first line of defense. I will be fielding the calls. This is where my job truly starts. A skilled negotiator can strongly influence the offers before they start coming in. And that’s where they can affect your bottom line.
S-How do you do that?
A- Let me give you an example of the responses I hear from other listing agent when I call for my buyers: –yes the seller is very motivated; just send me your best offer; no we don’t have any offers pls send me one; yes the price is negotiable. So the $5000 you just saved in commission ($500,000 asking price) will probably cost you another $30,000-40,000 in your final price. Because these are the type of offers you will be getting based on this agent’s response.
On the other hand, my conversation with the agents is about getting you the highest possible offer. So when they ask-what will the seller take? I will say-they will take more. Or if they ask-is the price negotiable, I say, we are priced to sell and we are holding firm on the price. Do you see the difference in the dialogue of a skilled negotiator and someone who just wants to sell your home?
So, Mr. Seller, do you want me negotiating on your behalf?
S- if you put it that way, looks like you will net me more
A-Absolutely, All we need to do now is simply sign this contract so I can help you get what you want in the time you want. Won’t that be great?
A – My fee is 3%. I suggest you pay the selling agent between 2.5-3%
S- I thought I’d pay you the same as what everyone else is charging-5%
A – Before we discuss the comm any further, have you decided that we will be working together?
S- I think so, the marketing plan is comparable, the price we already established. I like you and I feel I can work better with you
A-Are you saying that aside from the comm you would list with me today?
S-Yes, I think so
A-Is comm your sole criteria for selecting an agent?
S- of course not, but the less I can pay the better for my pocket book
A-let me ask you a question, what is more important to you? Saving the 1% comm or netting more money for the sale of your home?
S- of course both!
A-Lets go over what determines your net. There are 3 factors that affect the net: 1) closing cost- apprx 1% 2) comm-approx 6% 3) sales price-approx 93%. Would you agree that the final sales price will net you more?
S-yes but I want the 93% plus the extra 1% from the comm. That is SusieQ’s standard rate-5% and she is the biggest agent in town.
A-May I ask why you did not hire her?
S-I feel she’s too busy and my house will not get the attention
A-I understand what you mean. The top agents charge 5% because they deal in volume listings. They don’t necessarily focus on getting you the most on your bottom line and also not pay enough attention to detail. However, I do.
S-That’s great. That’s why you’re here. But I just can’t see the agents making more than me.
A-So what you’re saying is you want to save $5000 to net more.
S- yes
A-let me ask you another question, do you believe that an agent’s ability to negotiate is going to affect what you will eventually put in your pocket?
S-what do you mean? How so?
A-You had mentioned that one agent offered you 5 % commission upfront. They might be thinking 6% but they don’t even bring it up. Why? Because they are playing it safe and don’t want to negotiate the issue with you; the other agent said to you their commission is 6% and you asked- how about 5%? and she did not put up a fight. You, Mrs. Seller, just out negotiated your potential agent!
S-What do you mean by that?
If an agent is willing to give up and concede their own money, how strong could they be in negotiating for you and the equity on your home? Are these the type of agents you want negotiating for you when an offer comes to the table?
S- No, but all the offers will come to me and I will make the decision
A-of course, you will. However, when the agents start calling on your home-I am the first line of defense. I will be fielding the calls. This is where my job truly starts. A skilled negotiator can strongly influence the offers before they start coming in. And that’s where they can affect your bottom line.
S-How do you do that?
A- Let me give you an example of the responses I hear from other listing agent when I call for my buyers: –yes the seller is very motivated; just send me your best offer; no we don’t have any offers pls send me one; yes the price is negotiable. So the $5000 you just saved in commission ($500,000 asking price) will probably cost you another $30,000-40,000 in your final price. Because these are the type of offers you will be getting based on this agent’s response.
On the other hand, my conversation with the agents is about getting you the highest possible offer. So when they ask-what will the seller take? I will say-they will take more. Or if they ask-is the price negotiable, I say, we are priced to sell and we are holding firm on the price. Do you see the difference in the dialogue of a skilled negotiator and someone who just wants to sell your home?
So, Mr. Seller, do you want me negotiating on your behalf?
S- if you put it that way, looks like you will net me more
A-Absolutely, All we need to do now is simply sign this contract so I can help you get what you want in the time you want. Won’t that be great?
Replies to This Discussion
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Permalink Reply by Steve Shull on -
I love how conversational your dialogue is. Well done.
I would be a little careful with the line below. You are making some assumptions that a seller might not agree with. You asked the perfect question in, "Why didn't you list with her?" They responded with, "I feel she’s too busy and my house will not get the attention." Please give me a different response than the one below.
I understand what you mean. The top agents charge 5% because they deal in volume listings. They don’t necessarily focus on getting you the most on your bottom line and also not pay enough attention to detail. However, I do.
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Permalink Reply by Grace Michelman on -
I understand what you mean. They are like shopping at Target while I'm more service oriented like Nordstroms.
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Permalink Reply by Steve Shull on
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Too mean. Try again.
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Permalink Reply by Grace Michelman on
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Yes, I understand. The top agents deal in "volume" listings which make them top producers, however, something is likely to fall through the cracks and usually it's their service and the need to pay more attention to detail. And that is where I specialize and put my emphasis in customer service. Kind of like shopping at Penneys vs. Nordstroms.
About
FREDIAN THEORY....
Commitment is measured by action.
Who will do what.... when?
Are you talking to people in terms of benefit (opportunity)?
Enlightenment is being free of self-limitation.
"I like to find out what people think."
You don't vend a propportunity™ to sell that specific property, although that is a possibility. You vend opportunity to find out what people will do.
Every day you need to watch from falling into the trap of thinking, "Tomorrow things will work out."
Measure your success by what you do today.
One definition of success is... taking appropriate action.
The goal is to find out what you don't know vs. judging what you think you know. This is what it means to be "open".
Things don't get done because they don't get done today.
Great is being great today.
Your career, your year, won't come together until you break it down into the unit of today.
What are you pushing away, distraction or deals?
The practice of being in the hunt leads to production on a regular basis.
Begin each day "on purpose". Clear, connected, open, and READI.
Your decisions define who you are.
Fred Wilson
Who will do what.... when?
Are you talking to people in terms of benefit (opportunity)?
Enlightenment is being free of self-limitation.
"I like to find out what people think."
You don't vend a propportunity™ to sell that specific property, although that is a possibility. You vend opportunity to find out what people will do.
Every day you need to watch from falling into the trap of thinking, "Tomorrow things will work out."
Measure your success by what you do today.
One definition of success is... taking appropriate action.
The goal is to find out what you don't know vs. judging what you think you know. This is what it means to be "open".
Things don't get done because they don't get done today.
Great is being great today.
Your career, your year, won't come together until you break it down into the unit of today.
What are you pushing away, distraction or deals?
The practice of being in the hunt leads to production on a regular basis.
Begin each day "on purpose". Clear, connected, open, and READI.
Your decisions define who you are.
Fred Wilson
OUR MISSION...
The mission of Performance Coaching is..
Helping people go from Good to GREAT!!
I believe the information we are sharing with you on this website and at the 100 Day Events is truly life changing.
LIFE CHANGING!!
When I listen to Fred speak I know I am listening to the greatest real estate seminar ever. I don't think you will find this material anywhere else in the same concise and articulate framework.
Through the power of social networking we have the opportunity to have an unlimited number of Realtors across the country become part of this network. However we cannot do this alone.
My goal by year end is to have at least 2000 agents enrolled on this website. The business possibilities that can be generated out of this type of group are infinite. I want to inspire and challenge you in every way I can to be part of expanding our network. I would love to see each of you committed to adding one new member each and every week of this year.
I FIRMLY BELIEVE AS THE NETWORK GROWS....
SO WILL YOU!!
I want to thank you in advance for any help and support you can provide in making this the greatest resource center for Realtors worldwide!!
Make it an OUTSTANDING DAY!!
Steve Shull
Helping people go from Good to GREAT!!
I believe the information we are sharing with you on this website and at the 100 Day Events is truly life changing.
LIFE CHANGING!!
When I listen to Fred speak I know I am listening to the greatest real estate seminar ever. I don't think you will find this material anywhere else in the same concise and articulate framework.
Through the power of social networking we have the opportunity to have an unlimited number of Realtors across the country become part of this network. However we cannot do this alone.
My goal by year end is to have at least 2000 agents enrolled on this website. The business possibilities that can be generated out of this type of group are infinite. I want to inspire and challenge you in every way I can to be part of expanding our network. I would love to see each of you committed to adding one new member each and every week of this year.
I FIRMLY BELIEVE AS THE NETWORK GROWS....
SO WILL YOU!!
I want to thank you in advance for any help and support you can provide in making this the greatest resource center for Realtors worldwide!!
Make it an OUTSTANDING DAY!!
Steve Shull
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Email:
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performancecoaching.com
CLICK ON MY PROFILE BELOW!!
To Contact the Performance Coaching Offices:
8950 W. Olympic Blvd. #148, Beverly Hills, CA 90211
office phone 424.704.5030
fax 424.204.0801
Email:
steve@
performancecoaching.com
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Nora Wendel, Sales Associate, Coldwell Banker Brentwood
“Steve helped me take my business to the next level! He helped boost my confidence and continues to help me with ongoing business situations. I highly recommend him.”
Top qualities: Great Results, Expert, Creative
Carol Wolfe
Coldwell Banker
Encino
“Steve knows how to help you set goals and actually achieve them. He can be tough while being very supportive at the same time, which is a great combination. He has helped me stay on track and achieve goals beyond my expectation.”
Top qualities: Good Value, High Integrity, Creative
Chaya van Essen
Teles Properties Beverly Hills
“One word sums it all up for me: BRILLIANT! That is what I think when I think of Steve Shull! Not only is he BRILLIANT but he is also a genuinely caring individual. In our difficult business of Real Estate some of the essential factors to achieving great success are; being surrounded by leaders who are innovative and think outside the box, who lead by example of hard work, consistency and perseverance, who are supportive in their tactfully guiding way, and who are exceptional human beings! Without a doubt, I think of Steve Shull and his team when it comes to the success that I am achieving and will continue to improve. I would highly recommend Steve Shull and Performance Coaching.”
Top qualities: Great Results, Expert, Creative
SiBelle Isreal
Coldwell Banker
Santa Barbara
“I have found Steve's input valuable in many ways. Steve has been able to keep me focused on the "Big" picture while I sometimes become to involved with "details". One of Steve's strengths is to recognize mine and point me in directions that take advantage of those strengths. I would recommend Steve without reservation knowing that he will put his client's needs first. I welcome any calls or inquires from anyone considering working with Steve.” April 29, 2008
Top qualities: Great Results, Good Value, Creative
Bob Widing
Coldwell Banker
Santa Barbara
“Every business person should work with Steve Shull! Coaching with Steve has been life changing with huge personal and professional rewards. Steve is phenomenal at 1:1 coaching and in a large team environment.” April 29, 2008
Top qualities: Great Results, Expert, Creative
Lori A. Torres
The Irvine Co.
“Steve has been my coach for my real estate business for about 4-5 years now. He is fantastic! Always motivating and pushing me to be the best I can be. He is able to see things in myself that I am sometime blind to. He reminds me of my value and abilities and encourages me to always move forward and be in action towards the things I want in life.” April 29, 2008
Top qualities: Great Results, Personable, Creative
Christophe Choo
Coldwell Banker
Beverly Hills
“Steve was my coach for a number of years and very helpful and effective for me. He has a very strong work ethic, and I loved his whole body/mind philosophy..I was able to increase my business as a result of my relationship with him. I would highly recommend him as a coach. Thank you.. Steve”
Top qualities: Great Results, Expert, High Integrity
Carole Schiffer
Coldwell Banker
Brentwood
“Steve has really helped me from the start of my career to advance my business, he cares a great deal about your progress and does everything in his power to help you succeed”
Top qualities: Great Results, Expert, High Integrity
Michelle Nissani
Coldwell Banker
Beverly Hills
“Steve is an incredible coach and motivator. He clearly sees what is important in situations and has an uncanny ability to put aside what is irrelevant. He has had a profound effect on my profesional life.”
Peter Kinnaird, Agent, Teles Properties
“Steve gets straight to the point. One of the sharpest arrows I have ever known. If you want your career to go to the next level, take advantage of all he knows. I first met him as a Keller Williams agent, but now have transitioned into the Investment Advisory World and have taken everything I learned from him into my new endeavors.”
Top qualities: Expert, High Integrity, Creative
Al Knobloch
Financial Consultant
“Steve is an expert in the field of coaching. His ideas are inventive and out-of-the box. He encourages his clients to be the best that they can be in their lives and in their business. Our business is at a totally different level since coaching with Steve because he has pushed us out of our comfort level into an exciting heights that seemed out of our reach. We highly recommend Steve Shull as a coach. You will be delighted with the results.”
Top qualities: Great Results, Expert, Creative
Betty Comegys
Surterre Properties
Newport Beach
Nora Wendel, Sales Associate, Coldwell Banker Brentwood
“Steve helped me take my business to the next level! He helped boost my confidence and continues to help me with ongoing business situations. I highly recommend him.”
Top qualities: Great Results, Expert, Creative
Carol Wolfe
Coldwell Banker
Encino
“Steve knows how to help you set goals and actually achieve them. He can be tough while being very supportive at the same time, which is a great combination. He has helped me stay on track and achieve goals beyond my expectation.”
Top qualities: Good Value, High Integrity, Creative
Chaya van Essen
Teles Properties Beverly Hills
“One word sums it all up for me: BRILLIANT! That is what I think when I think of Steve Shull! Not only is he BRILLIANT but he is also a genuinely caring individual. In our difficult business of Real Estate some of the essential factors to achieving great success are; being surrounded by leaders who are innovative and think outside the box, who lead by example of hard work, consistency and perseverance, who are supportive in their tactfully guiding way, and who are exceptional human beings! Without a doubt, I think of Steve Shull and his team when it comes to the success that I am achieving and will continue to improve. I would highly recommend Steve Shull and Performance Coaching.”
Top qualities: Great Results, Expert, Creative
SiBelle Isreal
Coldwell Banker
Santa Barbara
“I have found Steve's input valuable in many ways. Steve has been able to keep me focused on the "Big" picture while I sometimes become to involved with "details". One of Steve's strengths is to recognize mine and point me in directions that take advantage of those strengths. I would recommend Steve without reservation knowing that he will put his client's needs first. I welcome any calls or inquires from anyone considering working with Steve.” April 29, 2008
Top qualities: Great Results, Good Value, Creative
Bob Widing
Coldwell Banker
Santa Barbara
“Every business person should work with Steve Shull! Coaching with Steve has been life changing with huge personal and professional rewards. Steve is phenomenal at 1:1 coaching and in a large team environment.” April 29, 2008
Top qualities: Great Results, Expert, Creative
Lori A. Torres
The Irvine Co.
“Steve has been my coach for my real estate business for about 4-5 years now. He is fantastic! Always motivating and pushing me to be the best I can be. He is able to see things in myself that I am sometime blind to. He reminds me of my value and abilities and encourages me to always move forward and be in action towards the things I want in life.” April 29, 2008
Top qualities: Great Results, Personable, Creative
Christophe Choo
Coldwell Banker
Beverly Hills
“Steve was my coach for a number of years and very helpful and effective for me. He has a very strong work ethic, and I loved his whole body/mind philosophy..I was able to increase my business as a result of my relationship with him. I would highly recommend him as a coach. Thank you.. Steve”
Top qualities: Great Results, Expert, High Integrity
Carole Schiffer
Coldwell Banker
Brentwood
“Steve has really helped me from the start of my career to advance my business, he cares a great deal about your progress and does everything in his power to help you succeed”
Top qualities: Great Results, Expert, High Integrity
Michelle Nissani
Coldwell Banker
Beverly Hills
“Steve is an incredible coach and motivator. He clearly sees what is important in situations and has an uncanny ability to put aside what is irrelevant. He has had a profound effect on my profesional life.”
Peter Kinnaird, Agent, Teles Properties
“Steve gets straight to the point. One of the sharpest arrows I have ever known. If you want your career to go to the next level, take advantage of all he knows. I first met him as a Keller Williams agent, but now have transitioned into the Investment Advisory World and have taken everything I learned from him into my new endeavors.”
Top qualities: Expert, High Integrity, Creative
Al Knobloch
Financial Consultant
“Steve is an expert in the field of coaching. His ideas are inventive and out-of-the box. He encourages his clients to be the best that they can be in their lives and in their business. Our business is at a totally different level since coaching with Steve because he has pushed us out of our comfort level into an exciting heights that seemed out of our reach. We highly recommend Steve Shull as a coach. You will be delighted with the results.”
Top qualities: Great Results, Expert, Creative
Betty Comegys
Surterre Properties
Newport Beach
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