No Broke Months For Salespeople - What Do I Do When A Client Asks To Lower My Commission?

Episode Date: July 22, 2023

What Do I Do When A Client Asks To Lower My Commission?Real Estate Coach Dan Rochon of No Broke Months for Real Estate Agents talks about how to appropriately reply when a client asks for you to lower your commission.In this scripts and roleplay episode, Dan gives three options to give as a reply to this question.Learn more this script in this new No Broke Months for Real Estate Agents episode--To find out more about Dan Rochon and the CPI Community, you can check this link:www.NoBrokeMonths.com --Stop 🛑 wasting your time ⏳ or spending too much money 💸not getting the results you want in sales; I would love you to join me for the upcoming 5-Day Listing Challenge.You will learn how to find YOUR Way to having closings every month.www.get3morelistings.com--Get your free copy of the Real Estate Evolution here:bit.ly/RealEstateEvolution_GetYourBookThis book shows you the step by step on how to:Step 1: Believe in your unknown potentialStep 2: Deconstruct persuasion techniquesStep 3: Find a business and get hired consistentlyStep 4: Be proactive in the relationship with your clients.Step 5: Learn and implement the exact steps to hire, train, lead, and train virtual assistants so that they can build, support, and guide a winning team to scale.And if you’d like to have a consistent and predictable income, like this page, and don’t forget to join the Facebook group to network with the top agents:https://www.facebook.com/groups/thecpicommunity/ To find out more about Dan Rochon and the CPI Community, you can check these links:Website: No Broke MonthsPodcast: No Broke Months for Salespeople PodcastInstagram: @donrochonxFacebook: Dan RochonLinkedIn: Dan Rochon

and teaching yourself those patterns of how to be able to approach a conversation, in my opinion, are even more important than the words that we're learning, right? Because once you learn the patterns, you can sort of figure it out as you need to. Welcome to the No Broke Months for Real Estate Agents podcast. Working as a real estate agent can be incredibly rewarding and fulfilling, but it can also be frustrating if you aren't making the money you deserve. So if you're ready to end the stressful cycle of working hard for no results, then get started with a proven step-by-step system so that every month is No Broke Months.

My name is Dan Roshan. I'm the host of the No Broke Months podcast, which is a show for real estate agents to help you have no broke months. Thanks for joining me. Enjoy the show. What do I do when a client asks to lower my commission? Real estate coach Dan Rochon of No Broke Months for Real Estate Agents talks about how to appropriately reply when a client asks for you to lower your commission. In this scripts and role play episode, Dan gives three options to give as a reply to this question. Learn more about this script in this new no broke months for real estate agents episode. Will you lower your commission? I actually had that yesterday on a contract that's supposed to close today. Okay. We're extending it to the 31st, but I had that last night and we're supposed to be closing

today. You know what my answer was? I just said, simply no. I said to the seller, I said, the buyers are expecting to go to closing tomorrow. And they said to me, well, the lender who loaned the money was a private lender to the seller. They said to him, well, we have to reduce the commissions for us to approve the sale. And I said to them, no, I've got a contract with you and you've got a contract with the buyer. I appreciate your position and the buyers are expecting to close tomorrow. Very calm, very matter of the fact, and very, very straightforward. Okay, so option one, no. Option two, I'm curious.

Why do you ask? If I were you, I would ask the same question. When you think about it, I'm not sure you realize that the commission is really a powerful marketing tool. And what I mean by this is that when you offer a reasonable rate of commission, it gives an incentive to my team to work overtime to market your home and get it sold. And that's exactly what we're going to do. OK, it gives us an incentive for my team and I to work overtime to get you the highest price for the sale of your home. And that's exactly what we're going to do. Now, let's go back to strategy here.

So so that's the script we're going to do. Now let's go back to strategy here. So that's the script. My favorite script is no. And I'll share with you when I use which script. So there's really three options. There's also the option that you could say yes. Okay. So I don't want to pass by that because you may again make a business decision, which is if I say no, will I get the listing? Okay. So that's sort of the strategy of it. If I say no, will I get the listing? Then do you want the listing? Okay. Cause you may not want the listing. So I'm not like other coaches who will say, don't do that. Right. I, I, I believe that you should make business decisions. I want to give you the tools that you can make the best business decisions, but remember it is a business decision. So you got to then ask yourself the questions.

I remember a time, oh, this was a few years ago where I had somebody from my BNI group beat me up over commission. And I got pissed off at the guy because he was in my BNI group. And I didn't, I didn't take the listing. He sold it. And even I lowered commission, I lost about $10,000 of opportunity. So looking backwards, I'm like, huh, would I rather have had the $10,000 or would I rather have been right? Okay. That's just a business decision. Now I'm not suggesting to lower your commissions, right? I'm just suggesting that you know how, you know, that you're making business decisions. All right. Option one, no. Option two, when you think about it, I'm sure that you'll realize that the commission is really a powerful marketing tool. And what I mean by this is that when you offer a reasonable rate of

compensation, it gives us an incentive for my team and for the other agents to place your home at the top of their list so that we get you the most money. And you do want the most money, right? Rosalie. Why do you say that, Dan? Well, because I'm looking to get the most money. I can understand that. When you think about it, it's really a powerful marketing tool. And what I mean by that is when you offer a reasonable commission rate, it gives us an incentive, meaning my team and other agents, to work hard to get your house sold and get you top dollar. You do want to make top dollar, don't you?

I do. I do. Cindy. Why do you ask that, Dan? Oh, I'm looking to get the most amount of money. I can appreciate that. You know, when you think about it, the commission is actually a very powerful marketing tool. What I mean by that is if you offer reasonable compensation, both myself, my team, and the other side bringing the buyer will be that much more motivated to get you top dollar for your house.

You do want top dollar, don't you? Yes. I don't know. I want to pay you extra commission now, Cindy. Please do. I'll accept that. Now, what you need to do is you need to practice, practice, practice. So I've got 16 years or so of practice, practice, practice, right? So there's not a something you could throw at me that I'm not going to have more than one way to address it, but that's from years of practice, right? And so that's where you want to get yourself where it's just like in my fire. And now it comes off very naturally, right? But remember the patterns of once you handle it, switch it. So how do you switch it? You ask them a question. So you do want to make the most amount

of money, right? So I'm curious, what's your frame? What's your timetable of getting it on the market? See, I just did that. So I did the tie down to say, yeah, I want to make the most amount of money. Then I took control of the conversation again by asking a question that's sideways, that's different. OK, so teaching yourself those patterns of how to be able to approach a conversation, in my opinion, are even more important than the words that we're learning, right? Because once you learn the patterns, then whether you got the words or not you know the patterns and you can sort of

figure it out as you need to you know as you develop the uh as you develop the uh the words until next time have the best day of your life be grateful make good choices help somebody and go find a listing. I'll see you guys. The episode you just heard is an excerpt from the Friday scripts of roleplay that we do within the CPI community to be able to have agents to create no broke months. If you want to improve your conversational skills through roleplaying, I invite for you to try it yourself.