You’re paid too much!
Imagine this: you’re sitting with a potential client, discussing the sale of their home. They lean in and, with a touch of hesitation, say, “But… why are your commissions so high?”
It’s a moment many of us dread. It can feel personal, almost as if your value is being questioned. But here’s the thing: it’s not about you—it’s about understanding before you explain.
Good morning, and happy Monday. Most clients don’t realize the true costs of running a real estate business. They see the commission percentage but rarely see the expenses that chip away at it.
Let’s peel back the curtain for a moment: Brokerage fees, splits, marketing expenses, professional development, insurance, board fees, income tax, HST, and more…
When all is said and done, the “big” commission gets whittled down—quickly.
When faced with questions like, “Why do you charge so much?” it can be tempting to jump into defence mode. Resist the urge. Instead, adopt a mindset of curiosity.
- “What do you understand about how real estate commissions work?”
- “What do you feel is a fair investment for selling your home?”
These questions aren’t about persuasion; they’re about creating an open, neutral space for dialogue. Be curious, not combative.
Understanding Their Perspective
It’s human nature to question costs, especially for something as significant as selling a home. And while your instinct may be to explain your worth, remember: clients don’t care how much you know until they feel heard.
If a client says, “I just don’t get why it’s so expensive,” take a breath and ask, “What do you understand about what’s really happening during a real estate transaction?”
Their answers might surprise you. Sometimes, their concerns aren’t even about the money but about feeling in control or understanding the process.
It’s About Value, Not Numbers
The real estate industry isn’t just about transactions; it’s about relationships. The value you bring extends far beyond the dollars and cents on a spreadsheet. You’re a guide, a counselor, and sometimes even a shoulder to lean on during one of the most significant financial decisions of a person’s life.
Understanding their beliefs and being willing to explore the foundation of those beliefs will set you apart. After all, a belief is just a thought someone agrees with. By staying curious and neutral, you can uncover what truly matters to your clients.
The next time you hear, “You’re paid too much,” pause. Step back. Listen. Understand before you explain.
Not only will you create a better experience for your clients, but you’ll also remind yourself why you chose this profession in the first place: to serve, to guide, and to add value.
Wishing you a productive week ahead.