233: Seller Commission Explained

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We covered buyer brokerage and now we are arming you with how to explain seller commission.

It’s time for agents to stand up, speak to their value and not be afraid to ask to be paid. As a listing agent, you are providing a service to your clients that helps them sell their home, likely their largest financial instrument. Your expertise means saving your sellers time, money and stress. Explaining to sellers exactly what you do and what and how you will be paid is a non-negotiable. We are taking you through a quick rundown of our listing process and looking at seller conversations through the lens of recent news in the market. If you have had a seller ask you about recent headlines or why they would pay a buyer’s agent, then this is the episode for you.!

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The following is a rough transcript provided by Otter.ai

Hi, Alissa.

Hey Katy, welcome back. Yeah, it’s

episode 233. We were on such a roll talking about buyer brokerage agreements that we’re going to talk today about I guess listing agreements.

Yeah. Presenting listing compensation talking. We have not yet come up with the title for this episode. Very loose working title talking to sellers about money. How you

get paid the seller edition. Yeah. Like,

how do I get paid buyers? How do I get paid sellers? Right. It should be that simple. Yes. There’s no that fun, creative fluffy name. It just is what?

Realtors get paid. Like what will Google like the most how Realtors get paid? Seller edition? Yes. Sorry, y’all. We’re working right through this. Yeah.

Thanks for listening to us.

Do Realtors get paid seller edition? I love it. Okay. I don’t. Okay, if you haven’t listened to last week. Okay. Yeah, I feel like that may be a must. Here.

It is. You need to listen to last week before you listen to this week. Right?

That’s episode 232. It is all about buyer brokerage. We give you updates on the legal environment in real estate. And we talk you through our buyer. Agreement. Cover Letter. Yes. And we talked to you about why you need to be thinking about this now not later. And I think it’s an important episode extremely. But it came up in the episode that will we kind of need to talk about how does this affect the seller side of things?

How does your listing appointment need to look differently?

What are you going to say to your sellers? What do you need to say to them? How is your listing appointment gonna look differently? Okay, let’s uh, how are you ready to tell them I

do have a little small opening I would like to say please go in Episode 214. We did a recap of the lawsuits over compensation that impacted realtors and NAR in the last year, yep. It’s been an interesting year. Okay, I’ll say we don’t want to over talk the topic. What’s interesting is in thinking about this episode, you and I, Katie, and probably the majority of the listeners that actually listened to hustle humbly, because that just shows that they care about their industry, they’re working on bettering themselves. So it’s sort of like the people were talking to. Probably aren’t even the ones that need to hear maybe artless. Okay. Yeah. Why needed? Yes. Well, there’s that that’s the problem. But even when I was thinking about this episode, part of me as a realtor that knows how we conduct business is still very surprised that we made it to this level of magnitude of lawsuits. Because when you look at the listing agreement ours anyway, it is very clear, very clear.

I am the seller I am paying X some portion of x is going to the buyer

brokerage you don’t have to sign this document. You don’t have to you would like pretty right you don’t have you could do it yourself and you’re so angry. Okay. About realtors. So that’s why like I still there still this little piece of me. That’s having trouble understanding why this was such a problem. But on the same note, it was such a problem. So I want to make sure that on our listing appointments, we are being extra clear. We are not afraid to talk about money. I feel like that needs to be a realtor affirmation for 22 Ready for

I am not afraid to ask to be paid.

I am Do not press Yeah.

I am not afraid to ask to be paid.

I am not afraid to talk about money, right? It

is a business for heaven’s sakes, how many times can I say it is a business and it

all goes back to transparency. We are here to just be completely honest. Explain the process. The goal isn’t to hope they sign without asking any questions. The goal is to ask their questions for them, and then answer them. You know, it’s

funny, my goal with every listing presentation is to get to the end and say, Do you have any questions and for them to say? No, like you’re covered at all, they are in disbelief that I have answered all I have had clients show up with a spiral notebook of questions. And I’m like, let me go through my spiel. And then at the end, I’m like, Do you have any questions and they look down? And they’re just like, beside themselves? They’re like, No, like, should I? And I’m like, no, because I did my job. Yeah. I answered the questions before you even had them. If you have

our email templates, we’re not selling anything new today. Do you like if you want them? Yeah, yeah, we do have the email. If you have our email templates, in the some of the listing email templates to your sellers, it also includes a net sheet of sorts, I will state for

the record, the net sheet is not complicated. And at the bare minimum, if you’re not doing this for your seller, I almost feel like you’re what is that negligent? Yes, it is a it is not a they need to understand optional activity, it is quite simple. I’m showing you to man out of my listing folder, it just goes through what are their numbers?

How do they figure out what their numbers will be? And you know, it’s funny, since all this, like people have been so fired up this year, every single time, we get an offer every single time we say well, should we drop the price, every single time we’re talking about money, I go to that email template, and I copy and paste just the net sheet portion. And I put it at the bottom of the email to say, this is what it would look like if we did this. If you accept this offer, this is what your net would be. If you counter this offer, this is what your net would be like, I am putting it in writing more times as many times as I can, right?

Because there’s nothing worse than a seller saying Wait, I didn’t know that I had closing cost. Or wait, I’m paying the commission, y’all that should not happen. Never, should never should never never happen. But at the very least they need to know what their net is before they decide if they want to sell their house. It may make a difference. They may say I can’t afford to sell this house, because I won’t be able to buy another one or because I don’t have the money to literally pay it off. At the price you’re telling me it’s going to sell for the numbers matter. They matter so much. Okay. What do you do in your process that you will change? Do you think?

Anything? Ah, I feel like I have always felt comfortable about how I go over it. And you know, this will be a little bit of a podcast therapy episode because at the time of this airing, nothing is really set in stone, we are still in sort of a preparation of the conversation could very well change. If the DOJ says you can no longer let the seller pay anything to a buyer’s agent. Right. If they say that the conversation will look very different. Yeah, you know, what I found was interesting. I just recently had a seller who had an investment property here in Baton Rouge that he’s selling. Okay, he is from a north. Okay. When we went to do the listing appointment, we were talking about I was doing my spiel, this is the listing agreement. This is the fee This is how the fee is broken down. This is how you will get this is how I get paid. And this is what your check will look like at closing. Okay. And he said, I’ve been hearing so much about how seller’s like aren’t really paying buyer’s agents anymore. And like what can you tell me about that? He wasn’t sure he didn’t know what he just heard headlines, right? Correct. Correct. Okay. And the conversation the answer to that question, I think will be updated as time goes on. But for the most part, it’s like Mr. Seller, you are absolutely right. You have no obligation to pay a buyer’s agent. Let me share with you why it would be in your advantage to do so. At this time, as I’m speaking today in our market, sellers who list with a realtor are typically offering some sort of compensation to a buyer’s agent, which is no good Trouble, which is negotiable, and always has been. Yes. Always has been, nothing has really changed in that department right there. It is just being talked about more. And I’m glad it is agree. When a buyer is looking at homes, they will know what if their agent is being compensated. And if that means they will have to bring additional money to the table to finish to finish paying their agent, it would put you at a disadvantage at this present time where the majority of sellers are still willing to offer that. So instead of you know, some people like to offer bonuses, $1,000 bonus, if under contract bothers me. I don’t I’ve never offered a bonus. I had a seller make me Yeah, how’d it go?

The agent got a bonus. But I don’t think they you don’t think it’s just because of the

bonus? Yeah.

I mean, it was a pretty significant bonus. And it was on my big, big, big, big listing. Sure. And I do think that it might have gotten a few additional agents to show it, which I guess is truly a marketing tactic. Yeah. But again, it feels weird to me, because I’ve never shown a house or not shown a house based on the commission offered me neither. A lot of times I didn’t even check it before I went Correct. Same. But in this environment, I feel like you’d have to check it just so your buyer would know what they owe you. Yeah, if you have a buyer agreement in place, my

goal with that seller was to explain what is going on in his market. I even opened MLS and showed him the other ones that were actively for sale and that had recently sold in his complex. Yeah. And I said, Look, this is my agent view, I can see that this is what they offered, you know. So I just don’t I want you to have all the knowledge you need to make the right decision. If that changes. And I say well, Mister seller, actually in your complex, I’m not really seeing sellers offer by right. My point in this is saying that, to an extent do not overthink the answer to this question. Your job is to tell them the truth, right? What is the truth of what is going on in your market, that gives them the best chance of getting their home sold. What’s really funny is yesterday, I was in a builders appointment with one of my buyers. So we are under contract, he is building a house. So we are in the color the design room, okay, he’s picking out cabinets, he’s picking out subway tile, like he’s picking out all this stuff. Okay. And it was interesting, because you know, they have different tiers of what you can put in there. And you if you do any upgrades, it is paid out of pocket, the buyer writes a check cash that day. But the agent, the sales agent that was helping him helping us at the design appointment that represents the builder, she would say, you know, this level to granite would actually be really good for resale. And I want you to know, I don’t get paid for any of these upgrades. I’m not saying this to as an incentive for me. I’m saying it because it just actually is really a good resale addition if it’s in your budget, okay. And I thought you hear that sometimes like, Hey, listen, this is my preferred lender, I don’t get paid by sending them anything. We’re so quick to say, I don’t get paid, right? I’m free, right. But when it comes time to say, I do get paid. These are mindset issues. It is 100% a mindset issue. And the whole time I was in this appointment yesterday, I realized there was so many correlations in that appointment for the buyer, and like how sellers and like even talking to a seller. Well, Mr. Seller, you’re hiring me. On the listing side. This is my fee. This is what I will do for you. On the buyer side. This is what’s going on in the market right now. What do you have in your budget? What is your budget look like? Where is your comfort point? Are you able, right?

I would love to know your thoughts because Katie and I did see my wheels starting to spin just them.

I did because I do think that Katie and I which is good. We have some like different points of view on all my thing is

I don’t romanticize the past of what the industry or the market was, yes, I am aware of what is happening currently, and where some of the things and changes that may happen are for the good of the consumer. And transparency. Yeah, and I’m okay with that. And I’m okay if that means I’ll A lot of things that maybe we’re not going to like and some things that I think we’re going to love. Okay, so there’s going to be good, and there’s going to be bad with it. When you say to the seller, you know, here are the things I’m going to do. What bothers me about the fact that I, let’s say, I’m the listing agent, I go to the listing appointment, and I’m telling the seller, okay, Mr. Seller, here’s what I’m going to do, here are my commitments to you. And in my listing agreement, this is what I do for all of my sellers. This is how much that cost. Now, you’re gonna get to pick how much you want to pay Joe Smith to represent a buyer. But I can’t guarantee they’re going to be good at their job, correct, I can’t guarantee that they’re going to make reasonable offers, that they’re going to submit good repair requests, that they’re going to be able to navigate a low appraisal. I don’t know Joe Smith from Adam. I don’t know who is going to show up here. And I’m asking you, Mr. Seller to blanketly pay any agent, whether it’s the best agent in our market, or they the first day on the job, the same amount of money. And that, my friends, is where all of this stemmed from? Yes. Because the seller is ours now saying, Well, wait a minute, why didn’t the buyer get to negotiate their commission, and I’m blanketly paying Joe Smith, brand new agent, or Sally, whatever the there’s been doing this for 30 years, and we’ll get this thing closed. And we’ll make me a great offer with her buyer, because she knows what’s up in the market. And it is a valid argument, it is a valid argument. Why would the seller be on the hook to pay? They don’t even know what the service is going to be? Yes. Like, I don’t know, I don’t know if you’re going to show up and blow the whole deal. Because you said that your FHA buyer could buy this house that really can only go conventional, you say yes. And that cost the seller, time and money. And they’re just being like, here’s your X percent, because you brought some like, it is for sure. A flawed system.

I think the only thing that gives me I agree 100%. The only thing that gives me a little bit of hope, if you will, or insight into that is that the seller? While yes, they’re picking a number to blanketly pay this person, that person does not get the money if it does not get closed fair. Secondly, the seller will does not have to take a low offer that is presented to him for sure. The seller does not have to agree to remedy all items on a horrendous repair request, right. So that agent that is no good could sabotage themselves and never get paid, because they could not work properly enough to keep a contract together. And the seller was like I’m not coming off my price anymore. What the seller is saying, hey, if your buyer pays that price, I am and we make it to the closing table. I’m happy to pay you.

Yeah. And when I’m saying is at what cost during the transaction, correct, because just closing might be the ultimate end goal. But how did we get there? How miserable was it? Yeah. How How much did the seller have to give? Maybe they did have to do some repairs? Just to get it there? Yeah, what I mean like so if it’s just black and white, did it close it and not close? Well, you get this money like I get it. But was it pleasant? Was it professional,

pleasant. And you know, going to the dentist isn’t always pleasant. But sometimes it just right.

I think ultimately what I would like is for your seller to trust you and more importantly, trust the industry and y’all can kid yourself all you want buyers and sellers do not to blanketly trust the industry, which has been made very clear the last year yeah, this is just bringing to light what already existed, which was the and we’ve had episodes about this, the way that the public and many consumers feel about real estate agents isn’t positive. It’s not. They believe that you’re just in it for the money that you know, you’re not being honest that you’re just used car salesman. I mean, like, now they’re like, You know what, I think we’re also just going to sue you. Yeah, because we’ve decided just saying it isn’t enough. We hate you that much. We’ve found some lawyers who agree with us not funny. It’s not It’s we’re laughing because you don’t want to cry. But yeah, but my point is, I don’t like I know our listeners are the best ones right? are getting better every day writing better. I love that getting better every day. We are trying, you’re gonna make we’re going to but we are a tiny little pool. And a giant group of people who I am sometimes embarrassed to associate with I am

to write especially just coming out of all the Christmas parties and you’re like meeting spouses and all these new people and they’re like, What do you do? And you’re like, I’m a realtor and I just want to like but I feel like a real realtor. Yeah, you buy I work I work hard and chill time.

Just claim podcaster. Now, yeah, I’m a podcaster that Well, that won’t work with your sphere building, though. No, it won’t. So the I mean, like,

I know. So, back to the whole thing like, right now my narrative is what is what’s going on in the market? And, Mr. Seller? You’re absolutely right, you have no obligation to pay a buyer’s agent. Let me share with you why I think it would be in your advantage to do so. And let me show you what I’m seeing being offered in the market to get to the act of sale. It may change to Mr. Seller, there have been some major legal changes in the real estate industry. And now we are no longer allowed to offer any compensation.

I think what’s going to happen, though, is that I don’t think legally speaking and again, not a lawyer, I don’t think that is what would happen. What’s what could happen, though, is that sellers, whether they want to offer it or not, will still be that will be up to them, they won’t be required or are allowed to post it on the MLS. So you were you just did the data and you were like, look, here’s the complex and they all offer, you know, XYZ, it won’t be there anymore. I think that is the more likely outcome.

I think that they’re saying it will be even more out there that they said they are going to start publishing the fees for the not just the realtors to see. But for the buyers to see, well, that might be the case, but they can say so the buyer can say, well, I love these two houses, but this seller is offering X percent towards my agent. And this seller is offering $0 towards my agent. So with this house, I have to pay

more. That’s the interim solution. Yeah, the ultimate DOJ situation might be MLS no longer allowed to show it. You’re in by me not not not allowed to show it. No longer allowed to require it. Right. Because right now they have to show it well. Sure. Right. Now what we’re getting is now people are putting in basically zero, okay, right. Yeah. Just to make sure that they get into because the MLS is saying, Well, you have to put something in this blank. Yeah.

Even if it’s $1. Right. It’s a requirement to have something in that blank.

That is the thing, I think that will change. That’s what they don’t like.

Yeah,

that’s what’s going to happen. Okay, so let’s talk a little bit about your in your listing. I’ve never had a problem. Explain to the sellers have always known I’m hiring a service provider, I’m paying the service provider. Yes. This is not a hard part. It’s actually very simple. Whether that you get to decide what that number is. They get to negotiate it, it’s always been that way. I don’t I would be very careful about the wording you use from now until forever. One the other, like what the seller has is going to pay deciding to pay maybe does maybe doesn’t on the buyer side, this is where you’re going to get yourself into potential trouble at some point.

And I also think keeping everything as much in right. I mean, yes, you have to have these discussions at the table. But maybe it’s worth a follow up email, like, Hey, Mr. And Mrs. Seller, per our discussion, you know, these are the things we decided we wanted to do to your house to get it ready for the market paint this do that. Here are the documents that you signed. And here’s what we discussed. just recapping everything in writing, I think having it in writing is going to be so important,

for sure. Now, we have quite a few episodes that talk you through how to work with sellers. If you’re a fear of buyer’s agent listening and you’re getting a little nervous thinking, Oh, maybe I do need to add sellers into my mix. What is that quote? Is it listings? Or knife?

If you’re not listing, you’re losing?

I mean, Never Was it more appropriate? We don’t know what’s going to happen. Yeah. But if you go to hustle humbly, podcast.com/sellers sellers. Yes, this is where you go. You can see all the episodes that are about

listing. It’s not just slash categories, and then click on seller so you can do slash sellers. Cool. And it’ll take you to the category you don’t say So Ryan, it was very exciting.

So episode 62 Is the episode about transitioning from buyers to sellers. So if you’re a buyer’s agent wanting to add in listings, that’s the episode you want to start with. 148 is the whole listing process listing to closing okay. 45 is the listing interview. So if it scares you to think about going into that listing appointment and asking a seller to pay you’re like heck no, I don’t want to do that. You need to listen to 45 154 is speaking to your value, which is really an episode about for sale by owner a bit, but it is probably one that you want to revisit and listen to, again, that helps you say, what is my value your if you can’t go to the dinner party and explain to your new friend, what you do and why that’s valuable, you need to start figuring that out. I just have no problem saying, I know what I have, because I have a long career. Yeah, so I know what I have done for my buyers and for my sellers. And I know that the that they appreciate that and felt it was justified to pay me. I’m not worried about that. But if you’re out there feeling a little we’re gonna listen to that when speaking to your value. And then number 183 is the consumer how to sell your home. So like, how to hire an agent, what do you do? What is the process from the consumer? And that one is important if you’re wanting to share that with, you know, an incoming lead or whatever? Sure. Those are that’s I think it’s important to go back and like, if you’re not listing, you’re losing losing? Well, that’s

why I think even with the whole, you know, buyer representation agreement. At first, it’s like, oh, my gosh, it’s a it is a total mindset shift. Yeah, but every class, we take everything we listen to every article we read, it only starts becoming more comfortable. Yeah, in the same way, you just have to dedicate your effort to becoming better in that area, for sure, you know, exercise that weak muscle,

you got to get there, it’s got to get there. You know, things have changed over the years of the I remember when they passed Dodd Frank, and TRID. And like the three days, y’all it was the actual literal, wild west worst, most horrible thing you could be walking into closing and be like, Oh, this isn’t gonna happen. Not just not today. Never. Right? This is never going to close. That was totally go that long without trade. I don’t know. And every look agents are so Oh, this is the worst, how are we going to get a settlement statement three days in advance, this is never going to work? Well laughs beautifully. Right. And you know what it is it’s protecting consumers. And at the end of the day, my job is still to protect consumers. That’s how I see it. Yeah, I’m helping you make a sound financial decision to purchase something. And look it you do provide value, because other than your health, where you live is sort of a big deal. Like, like being in a safe environment, to like, put your head down at night and go to sleep, this is a huge thing that you’re helping people do huge. Whether they’re first time buyers, or you know, on their third house, it doesn’t matter the type of house, it’s still important. And it you have such value. And it shouldn’t be hard for you to say, I know what I’m doing is valuable. Right. And if it is hard, you’re at the right place.

We can help you we are here to help you get there. Because we believe it right. And

I think it’s okay for you to ask their you know, your sellers, like what do you feel like, look? And again, you gotta go straight up to the top, what is your broker? Say? Like? What is the what is the common practice in your office? Like your because ultimately listings are with the broker? Not with you. Right? Unless you are the broker listening, then you know, but even, I mean, it’s the broker whose name is on there, if something happens to you, the broker still has that listing. So what are they requiring? So I hope that everyone’s office and their broker is taking this seriously and giving you some of these ideas for what to say that we have all these old

episodes, so many episodes for working with sellers. Yeah. And that material is evergreen pretty much I think so have

you had personally other than the one fella seller mentioned anything?

I have had two situations in my 12 years, where my seller called me and said, I didn’t realize you weren’t getting all the commission, I didn’t realize that half of it was going to the buyer’s agent look, and

never are sellers more mad than when the transaction has gone poorly. And they’re like, I’m so upset I because it’s under their column that I am paying that other agent.

And I will say in both such because I’m like how did that how did this happen? Some people just I kind of fall in this category sometimes of not always paying the best attention. You know, like I did go over it, but we signed that lease. How long did it take to sell the house right? How long has it been since we did all that when you negotiate or offer right and they weren’t so surprised by the amount, just how it worked just how it worked. And it was like a reminder. And neither of them were super upset. You know, it wasn’t a nothing bad happened. But it was a reminder to me that I distinctly remember sitting at that table, especially with this one particular lady and really going over it because it was at the beginning of all this, so I was extra diligent, you know. And she still all those months later was like, I just didn’t realize like it. She was like, Well, I wanted you to have it all. Exactly. And I was like, I know, thank you. Me too, but so kind, so kind, so kind. But you know, this is just that’s

really a great example of the fact that the seller is hiring you. Yeah, they want to bet he felt you there. Like I don’t the number ism didn’t bother her. But it bothered her that she was like, I don’t know, Joe Smith. Right. Why do I have to give him half of what you earn? Because see, she saw what you did. She doesn’t know what Joe Smith did. Yeah,

and that too. So I was also reading a very interesting article that like if you work with builders, okay. You’re supposed to disclose trips. If it’s like, if you sell five houses this month, you went a cruise, so you have to disclose it to the consumer. Yeah. Like, you’re my fifth house. If you buy this house, I get a cruise.

So really, isn’t that weird?

I know. But builders do that. I believe that I believe it. And it’s like, or if it’s like a cash bonus, or whatever it is. What if there is any incentive? Uh huh. Any form of payment for you to buy this house?

I’m supposed to tell you about it. Yeah, it’s very interesting. I’ll tell you most buyers don’t even know what you’re paying until they get too close. what’s your what’s your what’s your pay? Yeah. Until they get to closing some never realize it? No. Like, doesn’t that feel weird? Yeah, the system is weird. It is weird. It’s I don’t know who set it up. But it is weird. And

it’s hard because it’s been operating that way for so long.

I do believe that it came from a good place of trying to protect consumers.

I do too. I mean, sellers usually have equity. No, no, I don’t think that’s the reason. But I’m thinking like the the sip. I’m saying from my point of view, right. You know, like, I have been fortunate that I have never had to have a seller. Write it write me a check.

You should have joined me in 2000 789 When

people sometimes and sellers were just and I know it happens, I

give up almost a full commission just so it could close period. The seller is like I don’t have $5,000 Yeah, like that’s not an option for me. So my do I want a little or do what nothing because either

what’s best? Yeah, I know. It’s it’s a hard thing because it is your career. For sure. It is your we’re not we’re not doing this for free. I

know. As much as I love it. Yeah, I’m gonna have to be paid. Yes or no.

My children eat like the this this.

This listing is pro bono. Yeah.

Right. It’s like, why, what do you do that reminds me of this conference I went to, and we were in this big auditorium. And this speaker is like, you know, why did you get into real estate? And this lady’s like, I love people. And this other lady’s like, I love houses, and someone’s like, I just wanted to make my own schedule. And someone was like, the money, the money, and I kind of was like, Yeah, I mean, I, it’s my job.

initial reason to become a realtor was I want to work hard and be compensated accordingly. Yes, if I work harder, I could make more. And there, it’s very few jobs, I was in a salaried retail management position, I was working very hard and being compensated very poorly, right. And it didn’t matter if I worked harder than the other manager, they made the same amount of money. In fact, most of them made more than me because I was newer,

very similar to a seller paying a buyer. It’s the same

thing. I don’t want to pay you for something that I don’t know how you’re going to do it. I know. It’s totally make sense.

And then I do work with buyers. And I understand that asking them to bring 1000s of more dollars after their 1000s of dollars of closing costs. And like I understand, here’s the thing I’ve, I’ve always been like, real I should have been I wish we had a debate team at school. You’re like, Oh, I see both sides. I see both sides. All like all in almost all situation. That’s great. And so it’s like I understand this is just a sticky situation that we are still navigating. Right. We’re still monitoring and seeing what the best thing to do. And while we are in this interim, transparency and honesty is the foremost goal. I agree, you just need to tell them what is going on in the market and advise them accordingly. Yeah, my last note on this would be

the house is worth $200,000 today and tomorrow the rules change and sellers aren’t paying whatever to the buyer side is the house now let worth X percent less right it’s not so y’all Stop telling me that the buyer can’t roll it and like lenders need lenders are like this is not our problem. The rules the rules, the rules, say you’re your lender, you know, the you can’t even have the seller pay more than x percent on certain loans. I’m like, Y’all need to figure it out. We need help because the house is worth 200 Today it’s worth 200 tomorrow and that’s why I would wish this this switch is a light switch and not a slow burn same because if it’s a slow burn, buyers are gonna get screwed Yeah, it’s more painful and if it’s a light switch we have to all we have to all make adjustment but the problem is you don’t change a law in a day. Oh no. So it is a law right like these. This is the Fannie Mae rule this is the like I see we’re in a bit of a pickle Yeah, we are because

but we’re here to help just be honest, just be good people write transparency transparency is your key here’s

the great news on this episode. Your sellers are already willing to pay you they’re going to continue to pay you just be clear with them what all the money is and where it’s going. For the love of God do a net cheat OH MY GOD PLEASE surely surely I will tell you early on like my one of my first rounds of agent systems. I had an agent from a very big very high producing team come and say I just love this net sheet. We’ve never done this before.

I’m not surprised at that at all. So many people don’t do net sheets. So many and to

be fair, my broker bless them all no one ever said you have to do a net sheet right but y’all you have to you have an edge. We are here to say you have to do a net sheet you this is not a secret money is not a secret. You’re so good with this. Okay. I think that I am not afraid to talk about money. I am not afraid to ask to be paid. Yes. This is your new player. He builds the player I am not afraid to ask to be paid. Yeah, I am not running a free service. No, this is a business. And you should be able to say that to your seller and your buyer.

As James loves when I say if you hired you to run your business would you fire you hates when you say that? I know. He’s like I would I’m under staffed. I’m understaffed.

Okay, here comes a toast. Yes from our sweet listener. Can’t wait to hear it. Bye guys came by

Jordan Maxwell from Amarillo, Texas. Today I’m going to toast Annie Miller from Amarillo as well. Thank you for turning me on to the hustle humbly Podcast. I’m so thankful for your friendship and everything that we’ve gotten to accomplish over the years. Congrats on your new endeavor. I can’t wait to see you succeed.

Thank you so much for tuning in to the hustle humbly podcast. If

you enjoyed this episode, please go to rate this podcast.com/hustle humbly and leave us a review or drop a comment if you’re listening on Spotify. If you

have an episode topic or someone you’d like to toast on the show, please email us at team at hustle humbly podcast.com

Find us on social media at hustle humbly podcast. Don’t forget to find all the free resources at hustle humbly podcast.com/resources See you next week.

This is the good life

Two Realtors fostering community over competition through light-hearted conversations.

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