Simply stated, take your average sales price and multiply that by your average brokerage fee per side – are buyers and maybe sellers willing to pay you that amount?
Again, no time for hand wringing – solve the problem.
I can’t believe I am saying this , but know your market. Use local data and be able to explain it as it relates to buyer’s ability to buy and seller’s ability to sell. Pretty basic stuff.
Now for some strategy:
First, train on how to respond to client questions on the lawsuits and the resulting fee issues.
Second, develop your strategies that showcase real value to your clients. Guarantee those values. In writing, signed and dated by both agent and client. In short, if you don’t deliver, they can fire you on the spot. It’s called do what you say you are going to do – and then some.
Put your presentations on slides – keeps you on track (Higher chance of success) , provides a strong visual and you’ll stand out from your competition.
Train, train and train again. We handle the largest single transaction most people make in their lifetime – it’s time we treat it that way.
Lastly, remember it’s about the results you get for your clients – not you. No room for narcissism.