“Why would anyone open a new real estate brokerage in this market?”
That’s a question I’ve heard several times since opening Thompson’s Realty.
There are a plethora of reasons”¦. (that was just for you Kris)
Not paying a commission split to my former broker, not paying Century 21 a “franchise fee”, not worrying about my broker telling me what I can and can’t post on this blog. All are valid reasons for opening a brokerage in any market.
But the primary reason we struck out on our own was so we can run our business the way we want to, not subject to the whims and demands of others. So if you’re planning to become a broker and one day start your own brokerage firm, you can start with a real estate broker pre license online training.
And today we were able to implement one aspect of control in our business that was never possible before.
It probably doesn’t sound like much, but I can’t begin to explain how thrilled I was to write this statement into a listing agreement that was signed today:
Seller has the right to cancel this listing agreement with 24 hours notice.
That’s correct. The right to cancel. It will be in all our listing agreements.
I don’t believe in holding a client hostage. If we aren’t performing to their expectations, then (to quote the great Russell Shaw), “Fire me”.
Please fire me.
Personally I don’t believe this clause will ever need to be “exercised ” for poor performance on our part. But it’s there, and we will of course honor it. Poor performance isn’t the only reason a client might need to cancel. It’s certainly possible that a client’s situation could change, and it’s ludicrous to hold them to a listing agreement if they are no longer in a viable position to sell their home. (And yet there are countless brokers out there that will do just that.)
Today’s listing agreement was with a great couple in Las Vegas that have had some bad prior experiences with real estate agents (I know.. shocking).
This little clause gives them comfort and control.
What could possibly be wrong with offering that?
(Update: Unbeknown to me (because I’m days behind on my feed reader), Trevor Smith, Redfin Agent, posted about Redfin’s “Firing Clause” just a couple of days ago. A good read as Trevor responds to some things that are typically brought up in these discussions.)
[tags]real estate brokerage, cancelling listing agreements, freedom![/tags]