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Tuesday, April 9, 2013

Using tech to increase your commission rate

What’s your commission rate?

If you’re a listing agent, it’s a question you’re probably used to being asked.

And that means you’re probably used to answering it.

So you’ve probably memorized an answer, and you’ve probably prepared a list of reasons to justify your rate is what it is, because you’re probably used to being asked why it’s that high and if you could or would consider lowering it.

It’s not your fault. The age of the Internet and a poor economy has created bargain shoppers. They know real estate isn’t worth what it used to be, and they’re looking for the best value in a home, and to get the most out of their current house considering the high probability that it has decreased in value in recent years.

You explain that the market is coming back. You assure them of your qualifications. You tell your potential customer about your history, how many homes you’ve sold, how well you know—and love—the area, the average percentage of listing price your listings sell for, and a plethora more information that helps ease their worries.

They might be reluctant to pay your commission rate, because they know agents offered bargain rates during rough times just to get listings. They know some agents can’t expect full commissions when you owe as much on your house as what you’re listing it for. And they know there are discount brokerages out there that will offer value rates and lesser services, but they may seem like a viable option as well.

You have spent the past few years combating those obstacles. You’ve made an art of it. It’s all part of your sales pitch, and you’ve used it to gain a lot of listings.

But you’ve also lost a lot of listings. And you’ve gained some listings you later lost because the contract expired before you could sell the home.

And you’ve racked your brain trying to find ways to differentiate yourself from the competition, and show how you can better represent a seller than another agent with the same certification who might be willing to accept a smaller percentage for the same hopeful transaction.

You know the old means of doing business no longer provide the selling points they used to, because you haven’t seen the return on the billboard, newspaper and magazine ads.

The way to separate yourself is through your Digital dominance. You point out to your potential customer that you have the premier real estate website available. You, like most real estate agents, submit the listing to the MLS, which puts it through the IDX feed and on all subscribing real estate websites in the area.

But you also provide instant lead capture and response capabilities with the DeltaNet lead management system. You set up Seller Reports that email your client detailed updates on the Web performance their listing has had over the week and throughout its history.

Your listing is part of a detailed Market Watch report that your other clients interested in the area receive. And when shown on your website the listing displays much better, since you can add extra photos, photo details, additional content and YouTube videos of the listing.

Your mobile presence is another selling point, as you offer the best mobile real estate website in the market, with the best geo-targeted search capabilities by map, so anyone on the go can find your listing. And anyone that does find it can easily spread the word about it, since you have Social share options tied directly to the listing on your website.

You realize there are actually quit a few features that separate you from the competition, and most live online. But that’s how consumers shop for homes, and that’s where sellers need to be the strongest in order to get buyers.

And that’s where your advantage wins you the listing contract, and the higher commission rate that goes with it.

Contact Delta Media Group to learn more.
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