Jennifer Parrish, Closing Business (Ocean Realty )

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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Everyone has a different business model.  I have not encountered that in my market, but my business model changed a bit this year.  I added an early termination fee, which I was told would never be accepted.  No one has given me any grief about it.  That's what covers my up front marketing fees if they fire me before I sell the home because an agent with a lower commission winked at them at the grocery store.

Nov 05, 2019 01:22 PM
Rainmaker
903,717
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Nope, I will handle all that as part of my fee which if you don't want to pay it, you don't have to. But you won't get me!

If you can't be the best, be the cheapest and let them nickel dime you to death.

I will never be the cheapest and they just got an 'a-hole surcharge' tacked on.

Nov 05, 2019 12:56 PM
Ambassador
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Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Here we go again....seller doesn't want to pay a professional for marketing and selling their home because it costs to much. It costs too much if they don't use a professional agent but it will take awhile before they figure it out. As for marketing costs up front, typically not. It's a bit odd that all 3 agents wanted costs upfront.

Nov 05, 2019 12:37 PM
Rainmaker
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Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

Eons ago, there was such a thing as a cancellation fee which some agents asked for upfront. I had never done that & there are no upfront costs for hiring me as their agent.

Nov 05, 2019 02:41 PM
Rainer
322,391
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Sounds like discount a-la-cart brokerage with coupon shopper seller

Nov 05, 2019 01:58 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

"you can pay for professional services, or you can pay with a much lower sale price, which would you prefer?"

 

Nov 05, 2019 01:19 PM
Rainmaker
4,140,740
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

There are many different business models and lots of different clients.  Each appointment doesn't lead to a meeting of the minds. What works for some doesn't necessarily work for all.  Finding that right connection may not be magical but it can be quite nice. 

Nov 05, 2019 01:18 PM
Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I haven't personally but, do know that others do.

Per the Sherman Antitrust Act, to each his own, I suppose!

Nov 05, 2019 03:13 PM
Rainmaker
5,649,562
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jennifer,

The only time I have seen someone wanting costs up front was for a gigantic ultra luxurious horse ranch. It had its own lake, its own riding rink for English style, and on and on. The horse's stall were showpieces of matched woods and brass plates for their names.  The property was listed at close to 200 million.  The seller wanted a batch of marketing done, and was willing to advance the cost and be refunded at the close of escrow...

Nov 05, 2019 12:57 PM
Rainmaker
4,178,161
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I've heard of that, but I've not done it. 

Nov 05, 2019 12:33 PM
Rainmaker
689,575
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

No I have not. There are a lot of schlock houses operating as Real Estate Agencies & trying to reinvent the wheel. They promise to list you for less til they get in front of you & whip out the ala carte menu.

There's a certain kind of seller that seeks out these scab companies. In the end they lose & we win when we get their expired listing. 

Nov 05, 2019 02:48 PM
Rainmaker
2,029,730
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Usually with an unrealistic Seller ! If we’re gonna go on a Wild Goose Chase , it’ll have to be on their dime !

Nov 05, 2019 01:58 PM
Rainmaker
2,648,603
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Silly is as silly does....

Nov 05, 2019 01:51 PM
Rainmaker
853,235
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I don't ask for marketing money up front. I figure that's covered in commission. If they offer it for specialty marketing, I prefer to just have them pay for it. I did have one seller that wanted ad on front page of Loudoun Times Mirror, and ads in several real estate magazines. Those ads are expensive, and really aren't needed for most listings.

Nov 05, 2019 01:23 PM
Rainmaker
898,195
Peter Mohylsky. Broker -BRIX REALTY
Miramar Beach, Florida - Santa Rosa Beach, FL
BRIX REALTY -DESTIN

It is a trend that you need to get into your conversations with clients.  fight for your fee's, negotiate your worth with these extras.  Work with me upfront client and I will fight for you on the backside.  

Nov 05, 2019 01:10 PM
Rainmaker
5,572,175
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

no, I have never asked for upfront money for marketing.... I have never heard of that happening to anyone in my area.... word would spread on that one1!!! 

Nov 05, 2019 01:05 PM
Rainmaker
4,267,050
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Your state statutes could be involved with an upfront fee. Some require setting up a special account with onerous reporting requirements. Unless the marketing plan is very expensive and the return yo you is large, forget it! 

Nov 06, 2019 04:24 AM
Rainmaker
1,385,824
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

That's bizarre and wouldn't fly in our market. We absorb all marketing expenses whether the home sells or not.

Nov 06, 2019 03:28 AM
Rainmaker
1,394,319
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No.  How do they expect to get paid if they do sell the home?

Nov 05, 2019 03:33 PM
Rainmaker
468,799
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

I haven't but from your post with this seller - it sounds like it may be a good idea - just kidding......kind of.

This seller needs an education on where commission dollars go and how hiring an agent is the best thing for her to do to protect her equity and make sure she ends up with the best net in the end with the least risk.

Nov 06, 2019 07:45 AM
Rainmaker
1,597,830
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Upfront? 

I guess, they are not sure, the property will be sold soon.

Nov 06, 2019 06:38 AM
Rainmaker
893,647
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Buyers and sellers, I believe, are smart enough to select the services they need.

It is apparent many real estate agents believe buyers and sellers are not so smart.

And we wonder why...........

Nov 06, 2019 04:53 AM
Ambassador
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

No, that is not part of my conversation. I cover the marketing costs, but seller does cover staging if done.

Nov 05, 2019 08:15 PM
Rainmaker
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Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

No I have not.  Hope you got the listing

Nov 05, 2019 07:59 PM
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Have not asked up front for fees but if someone wants an early out of the listing contract, my marketing and advertising fees will be paid or we just wait until it sells or expires. Tit for tat!

Nov 05, 2019 06:01 PM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Nope.

Nov 05, 2019 05:13 PM
Rainmaker
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John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

No!

We present a value proposition that includes that we only get paid for results. Most sellers - and members of the general public - do not understand the financial risk that we take when we agree to represent seller. We do not receive a retainer like an attorney nor do we get paid by the hour. We spend money on staging, professional photography, flyers, promotion, etc. and only get paid if the house sells.

Nov 05, 2019 04:53 PM
Rainmaker
1,157,862
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Free staging, 4-8 hours of free fixes. Free marketing and have potential buyers lined up often is a tie breaker. 

Nov 05, 2019 01:25 PM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I have not.  There are risks we take in this business. We can mitigate that risk by working with the right people. - meaning those that get what we do, appreciate the work, and are happy to pay us.  

Nov 06, 2019 08:03 AM
Rainmaker
767,194
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

I'm in this situation right now and as I climbed a ladder in his basement stopped and said "Not for nothing but THIS is the value of hiring me...".   

Nov 06, 2019 06:41 AM
Rainmaker
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James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Won't happen as long as I'm in charge.  

Nov 06, 2019 03:39 AM
Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Never, but do add a clause in the listing agreement - if the Seller terminates listing prior to end of listing, Seller will pay $500 to (me) for marketing and Seller will be released from contract immediately.

Nov 13, 2019 07:31 AM
Rainmaker
2,065,408
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

I ask to pay for professional pictures and virtual tour. 

Learned that lesson long time ago. And no exceptions. 

Nov 06, 2019 01:35 PM