As a Real Estate Agent, Does Your Seller Think You’re Worth Your Commission Fee?
Mike Walsh, Executive Account Manager at Just Snooping.com, Inc. an innovative leader in the real estate virtual tour industry, sits down for a question and answer time and speaks of the value of services provided by agents to the buyer or seller. Consumers are demanding more from their Realtor and Mike Walsh addresses this touchy subject and helps us better understand the seller and what it takes to be successful in this tougher economy.
This was an interesting interview. It had some information that I found useful, however, the assumption that Realtors are making more money for less work in this day and age, I find incorrect. I understand that the idea here is marketing properties via video and tours. That is something I believe in and support, however, I believe that you don’t ncessarily have all of the facts correct. I have been utilizing the internet and virtual tours for years. Realtors have additional fees, usually internet based, and these fees come from so many different aspects, it’s daunting. This is all part of our overhead, and to stay successful, it is necessary to participate in the media, internet, technology and in many cases still utilize print media in certain environments. Maybe our incomes per home have increased since values have gone up, but so have our expenses. Now, with many values going down, we make a lower percentage, but we still have to invest our dollars in the internet, technology etc. Incidentally, I do agree that the virtual tours are essential in marketing a property.
Hi Pam,
Thanks for your reply. I do understand your point of view and it sounds like you know how to market a home properly. My perspective comes from many of my clients all over the country who are mostly Broker/Owners. They have told me that 10, 15 or even 20 years ago when they were agents they easily spent 3 to 4 thousand dollars a month on just marketing materials, which pretty much was all print media. It did not include things like splits with their brokers or desk fees. So looking back then when just print marketing was used, and it could only be used on a limited basis like weekend ads or fliers the cost factor was very high for limited return. I have also talked to many thousand agents over the years and I have not found one who would come close to spending 3 to 4 thousand a month on their marketing for their clients homes. I am not saying that there are not agents that might spend that but I have not found any, not even top producers. So because the internet can give 24/7 marketing to a homeowner, and cost to do things on the internet is so much cheaper than print, the cost benefit to market on the internet is by far cheaper than the good old days. Also most, and I would say 85 to 90% of the agents just don’t care to learn technology that sells a home today. From what I see those agents do earn a lot of money for doing very little. Again you sound like your someone who watches trends and is successful at your chosen profession. Your the kind of agent home owners should look for.