Your Guide in the Battle for Value

Imagine you're sitting across from a seasoned mentor in a cozy office. The room is filled with mementos of successful deals—smiling faces of satisfied clients—and you're here to learn the secrets of preserving your commission. As the mentor begins to speak, you feel the wisdom in their words, recognizing the challenges that lay ahead in the competitive world of real estate.

Understanding What Doesn't Work ?

In the complex dance of real estate commissions, some missteps can cost you the entire performance. For instance, using the wrong facial expression when a seller asks if you'll cut your commission can immediately undercut your perceived confidence. The mentor, Floyd Wickman, emphasizes this in a recent discussion, noting that a weak appearance can hinder your negotiation strength.

Equally important, Wickman points out that jumping straight into a combative stance or falling back on rigid company policy statements, like \Well, it's our policy, I can't cut it, also fails miserably. Sellers are always tuned into the WIIFM (What's in It For Me) frequency, and speaking benefits is imperative.

Mastering Your Mindset ??

The real challenge, then, is shaping your mindset to align with confidence and customer-centric dialogue. Wickman teaches that a poised response not only keeps you in control but also reassures the client of your value. As agents, your ability to exude professionalism, particularly when pressured, determines your longevity and success in the field.

The Art of Negotiation ??

Effective negotiation isn't just about standing firm; it's about engaging the seller's interests. Wickman’s strategy is compelling: instead of mere policy recitation, delve into what benefits the client stands to gain. Sellers are looking for reasons to justify your full commission, and by addressing their interests directly, you make your case stronger.

Think of negotiation as painting—a technique where each brushstroke (conversation) matters. You wouldn't slap paint on a canvas and call it art. Similarly, you shouldn't rush into a commission discussion without thoughtful preparation and a customer-focused approach.

Building Long-Term Relationships ??

Finally, the real gem in Wickman’s advice revolves around relationship-building. By showing clients that their success is your priority, you foster trust and loyalty. This long-term view not only protects your commission in the current deal but paves the way for future opportunities through referrals and repeat business.

In real estate, your words and actions are the seeds you plant. Nurtured with care, they grow into lasting professional relationships, ensuring that your career flourishes no matter the market conditions.

Step out with confidence, articulate the benefits, and always remember—your value goes beyond a mere percentage. It’s in the relationships you build and the success you help your clients achieve.