310: Tommy Sowers: The Collapse of the Real Estate Agent Commission
Real Estate Rockstars Podcast
Aaron Amuchastegui
4.6 • 864 Ratings
🗓️ 24 February 2016
⏱️ 40 minutes
🔗️ Recording | iTunes | RSS
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| 0:00.0 | Across the world real estate agents are underachieving. They're missing out all millions of dollars in commissions. |
| 0:09.0 | My name is Pat Hyven and in the past 27 years I've sold over 6,000 homes selling over a billion dollars in real estate volume. |
| 0:18.0 | My plan is to interview agents from across the world and help all agents create their destiny. Hello Rock Star Nation happy Wednesday I am excited |
| 0:38.1 | sighted as you can hear my strained voice I thought I was losing my voice because I had some sort of |
| 0:45.8 | throat cold after I jumped in the frozen lake for Special Olympics over the |
| 0:50.0 | weekend. Then I looked at my asthma medicine, I take a daily asthma inhaler and it was at |
| 0:56.2 | zero and I don't know how long it's been at zero, it's probably been a week, and I'm like, that's why. |
| 1:02.1 | So anyways, I'm like that's why. So anyways I'm excited to introduce this episode Tommy Sowers and |
| 1:07.3 | Solo Pro there has been a lot of hype about this and I think there is a lot of misunderstanding about this and there's going to be a lot |
| 1:18.3 | of discussion about this. I'm writing a blog right now that I'm going to post it is all about not only what does this mean for the listing side of the commission |
| 1:30.3 | Right, which has always been a silent side you know you could take as a |
| 1:35.1 | listening company X percent and co-op Y percent but I'm writing an article about |
| 1:40.7 | the co-op Commission, right? Because as the agent, right, as the listing |
| 1:47.1 | agent, we've always kind of recommended and pushed a certain co-op commission. |
| 1:54.0 | Co-op commission that was competitive with the marketplace's other co-op commissions. |
| 1:59.0 | But you've got to think about what would happen if a seller had no guidance on where to put the |
| 2:07.3 | co-op commission and suddenly they just started to decide, well let me put it at this dollar |
| 2:12.1 | amount today and then tomorrow I'll raise it by this dollar amount and on Thursday I'll raise it by this dollar mount and Friday this dollar mount. |
| 2:18.0 | I don't care because I have control of it. |
| 2:21.0 | And if I'm not getting any showings, I'll just raise it a little. |
| 2:24.4 | If I'm getting too many showings, I'll drop it a little. Oh, a seller will never |
| 2:30.1 | have control of the Co-op Commission like that? Well, it's not true. |
... |
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