The cost of doing smart business (but not in an ugly sweater).
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The personal stories of one Realtor’s battles and triumphs in the highly-competitive Bay Area Real Estate Market, seeking to illuminate and humanize the very real ups-and-downs of homeownership.
“Julie, are you free tomorrow night to join me for an ugly sweater party?” the email inquired.
“Sure,” I quickly replied, before realizing that now I’d need an ugly sweater. (I’ve spent my adult life fighting “ugly.”)
Not to worry, I did one better and found a truly ugly onesie at a local charity store for $20. (And yes, I actually wore it to the party.)
And while Sarah, Jill, Kate, and I have essentially built our careers on eliminating “ugly” – ugly paint, ugly wallpaper, ugly carpets, ugly lighting, ugly bathrooms, and ugly yards (just to name a few), there are some elements of Real Estate that remain “ugly” just the same . . . .With the change in the NAR (National Association of Realtors) rules earlier this year regarding the bifurcations of commissions, there are more than a few desperate Agents that have no problem undercutting their more successful colleagues while creating a race to the bottom.
Disrupters to be sure, it’s easy for the Sellers to believe that paying less for the same service makes sense (and cents) . . . And I wouldn’t fault that reasoning if you were, in fact, receiving the same service. (Let me cut to the chase, you’re not.)
As with all service industries, you get what you pay for, and when it comes to transacting what’s likely to be your most valuable asset, why gamble on a discount broker? When it comes to Realtors®, there’s a wide range of experience that each of us bring to the table, and if the goal is to achieve top-dollar, our respective abilities (or lack thereof) are likely to make a SIGNIFICANT difference throughout the entire process.
From signing a listing agreement, to preparing and marketing the property, to transferring the deed, there is a long list of carefully orchestrated steps in between, AND each of them is critical to the ultimate success or failure of your sale. Wouldn’t you agree, that this ISN’T the time for inexperience?
However, if you believe your house has a finite value, then by all means, hire the greenest, youngest, cheapest hack you can find. Heck, hire the guy who will work for a flat rate to write the contract, but certainly will NOT read the disclosures, red-flag any concerns, meet the inspectors, negotiate on your behalf, work as a fiduciary, walk you through escrow, or do any of the other 101 things licensed and conscientious Realtors® do on behalf of their clients. (Nor will they be there to assist should things go awry.)
Frankly, I can’t think of another more crucial industry where consumers believe that paying less is a wise idea . . . When it comes to BIG-life decisions, I’m not looking for the cheapest lawyer, financial planner, or surgeon to achieve my goals. I’m looking for the best in the business, and if that means I’m paying more for their respective skill sets, so be it.
With 35+ years of combined experience, Sarah and I shouldn’t charge the same fee as the Agent who got their license last week, yet that’s often the expectation. Simply put, we’re worth MORE, because we know MORE, and we bring MORE to the process.
So if you’re bristling because you believe Agents charge “too much,” feel free to negotiate the commission (commissions are negotiable by law – and always have been), but don’t be surprised if we hold steady to our value. We’ve worked long and hard to earn our stripes and we believe we also legitimately earn our fees (and then some). While you may certainly find someone else to work for less, I challenge you to find another team that will offer you more.
And that’s the ugly truth . . . .
How can we help you?
Julie Gardner & Sarah Abel | Compass Realty
Not just Realtors, but consultants in all things house and home, we’re here to educate, explore, examine and refer . . . In short, you may count on us to take care of your home as if it were our own and anyone who knows us, knows we take pretty darn good care of our homes.
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