Is the question really about money? I say no. When 60 minutes aired a segment on RedFin.com, an online discount brokerage, the endless debate of full-service vs “no-service” was refueled.
More than marketing
Truthfully, I think the founders of RedFin.com and other innovative business plans should be commended… for their innovation. It brings about good ol’ competition. Beyond that, I have no desire to enter the debate of whether they’re good or not. However, as a non-real estate agent, I’d like to point out the real issue at hand is not money, it’s representation.
The big issue that people tend to point out is broker/agent fees, a.k.a. commission. But as with any business, all have the unregulated right to set their own fees. Consumers should be made aware of their options and choose intelligently. Discussions of marketing and other value-added services happen at this level.
To serve and protect
The bigger issue for discussion is representation. Most consumers don’t understand the power of representation that an experienced agent can provide. Representation takes a person beyond property marketing and into the deeper realm of protection.
I think good agents recognize the power of protection that they can provide for their clients. Unfortunately, I rarely see it leveraged. If someone considers themselves a full-service agent, they must discuss protection with their clients.
Good agents
I took the classes. I took the tests. And I’ve been in the real estate industry long enough to know that good agents stand as a shield of defense for their clients. Good agents negotiate powerfully. Good agents protect confidential information. Good agents do things in the best interest of their clients.
Whether a consumer pays 8%, 6%, $2995, or $500, it’s their prerogative. It’s the responsibility of the consumer to know their options. It is ALSO the duty of agents to let them know what they’re getting.
What say you?
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