PAYCHECK AT RISK!… People are always trying to save money. There's nothing wrong with that… the only time it is a problem is when their "saving" comes out of your pocket! It all boils down to Perceived Value. If the customer perceives that they are getting value for their money… there is no problem. We need to be very strong about how we present ourselves and the services we provide.
Here is your ACTION STEP… anytime someone wants you to "cut the commission" you need to be clear on your position before you answer ("my commission is not negotiable"). Here is one of my favourite responses to "I Want You to Sell My Home for Less Than 5%":
"I'm sorry Mr. Seller… I just don't do business that way… and frankly anybody that does is not looking after your best interests. May I explain?" (Fair enough)
"This is a very competitive market! You need an agent who is prepared to do ALL the things necessary to get you the best price possible. By trying to cut corners on the commission you are short-changing yourself. You're going to end up losing on the big prize… which is your selling price!" (Yes but…)
"By paying the right money up front you are going to end up with the result that you are looking for… and that is the best price. Let's sign the contract at 5% and put me to work. Let's get started, fair enough?" (Okay)
It is all starts with your attitude. Handling Commission Cutting objections is something you need to get really good at. All great Salespeople have at least three answers to every objection. Add this one to your list and practice it over and over. Remember your pay check is at stake here… you deserve to be paid at the highest level. NO Excuses.