I have been talking a lot this week about how to increase our commissions with my peeps. It’s always about increasing our average selling price and/or negotiating higher commission rates, right?
And one way to fatten up your bank account is to double-end your commissions by doing something that most listing agents don’t do.
Find houses for their buyers.
If you are working with buyers, even though our focus is to work on becoming better listing agents, it doesn’t hurt for you to double-end your commissions by finding your buyers houses that aren’t on the market yet.
I have done this on more than one occasion, especially when your buyers are very specific about what they want in terms of a certain type of property or a certain location.
Once we had a buyer that my buyer’s agent was working with and they were pretty dead-set on getting a condo in this one San Franciscan building in the Lower Pacific Heights area of the City.
So we sent a postcard to the building, started calling owners and reached out to the property manager and the security guard to see if anyone was thinking of selling.
It took us a few weeks, but in the end, we found a seller that was considering selling, made an offer with a long escrow to make him comfortable about taking his time moving and our buyer was very happy. BAAM, doubled the commission!
So give this some effort when working with your buyers or have your buyer’s agent do this, it can be quite lucrative.