How Much are Realtors Worth?
March 31, 2008
Many people don’t want to pay the traditional 6% commission (3% to listing broker and 3% to selling broker) and since all real estate commissions are negotiable they turn to discount brokerages in order to save a quick buck regardless of the service quality or competence of the agent they hire. But aren’t some agents worth more than others?
If Ebby Halliday, widely accepted as real estate’s First Lady, wanted to list your home, would you tell her she isn’t worth 3% and ask her to reduce her commission? Would you tell Virginia Cook, 16-Year Director with the National Association of Realtors and NAR Distinguished Service Award Recipient, to take a hike because you would rather list your $1.5 million dollar home with a no-name, start up, discount real estate brokerage? Of course not.
If you list with a discount brokerage then you should expect discounted service, right? Not anymore. People are now expecting full service at a discount. If I recall correctly, the average paid commission in 2007 was around 5.1% and might be falling. So I ask you, with all of the criticism surrounding Realtor commissions, how has no one come up with a commission structure that consumers can find acceptable after 106 years? I’m sad to say I don’t think anyone ever will. Realtors will always have a poor reputation and the consumer will continue to remain clueless as to how real estate agents do business and get compensated.
Jeff Duffey is a Realtor with Coldwell Banker Residential Brokerage in Dallas, TX where he was born and raised. He provides an unparalleled level of customer service to all of his clients regardless of price range. With over 5 years of expertise he has consistently ranked among the Top 10% of all Realtors nationwide each year he has been in the business. Jeff feels that educating his clients about the nuances of the home buying/selling process is one of his most important responsibilities as a Realtor and finds this helps his clients enjoy the smoothest transactions. This focus on education coupled with his superior market knowledge, strong negotiation skills and marketing strategies sets him far apart from his competition. His clients seem to agree considering over 95% of his business comes in the form of referrals.
Jeff's interests include playing competitive USTA league tennis, volleyball, traveling and he loves to talk about real estate. Full of advice and opinions, he enjoys being engaged in "spirited" dialogue.
Contact him at 214-507-2878.
You can reach Jeff on the web at http://www.duffeyhomes.com/
You can also email Jeff at jeff@duffeyhomes.com
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