How to Effectively Handle the Question: "What's Your Fee?"

Let's dive into a topic that I'm sure makes any real estate agent sweat: discussing fees with clients. Here’s an easy yet super effective strategy to keep the fee conversation flowing effortlessly. ??

Avoid This Common Mistake: Pausing After Stating Your Fee

A client asks, "What's your fee?" and you respond with, "2.5%." Then you pause, waiting for their reaction. This pause can create an awkward moment and make the fee seem like a point of objection. Instead, let's explore a strategy that sails right through this question and shifts the focus to the value you bring to the table.

Step 1: Address the Fee and Keep Going ??

When a client asks about your fee, address it confidently and immediately transition into a conversation about the value you offer. Here’s an example:

Client: "What's your fee?"

You: "Our fee is 2.5%. One of the great things about working with us is that we often introduce hot buyers early in the campaign. These are buyers who are already excited about properties like yours. For instance, we’ve sold four properties in the last six weeks within two weeks of listing. If we sell your property within two weeks, would you be okay with that?"

By doing this, you acknowledge the fee but quickly move the conversation to the value you provide, leaving less room for fee-related objections.

Step 2: Anticipate and Handle Fee Objections Smoothly ??

Sometimes, clients might still want to revisit the fee. Here’s a script you can use:

Client: "Can we come back to the fee? Is it negotiable?"

You: "We do offer a different fee structure for clients with multiple properties per year. Just to clarify, are we discussing just one property or multiple properties in terms of our relationship?"

Client: "Just the one."

You: "Okay, great. Let’s agree on the fee and move forward. Are you ready to put me to work?"

By clarifying and addressing their concerns, you show flexibility while driving the conversation toward closing the deal.

Step 3: Seal the Deal with Enthusiasm and Confidence ??

End the conversation with enthusiasm and a clear call to action. Show your eagerness to start working for them right away.

You: "I’m so enthusiastic about taking this property to market. Here’s my hot buyers list. As soon as you give me the green light, we’ll sign the agency agreement and get started immediately."

This approach reassures the client of your dedication and also motivates them to take the next step.

Key Takeaways: Make It About Value, Not Just Fees

1. Address the Fee Confidently: State your fee and immediately transition to discussing the value you offer.
2. Keep the Conversation Flowing: Avoid pausing after stating your fee. Instead, steer the discussion towards how you can benefit the client.
3. Handle Objections Gracefully: Be prepared to revisit the fee discussion if needed, and show flexibility while focusing on the overall relationship.
4. End with Enthusiasm: Close the conversation with a positive, action-oriented statement to encourage the client to move forward.

By following these steps, you can transform the fee conversation from a point of tension to an opportunity to add value and build your client’s trust and confidence.

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