Love it! When starting in real estate I didn’t have a hug contact base, so I offered 75% of my commission to cooperating brokers. I basically paid for other brokers contacts. Result: portfolio doubled with in a year. The more money I gave away, the more I made. ~AJS
Kudos to your approach on the industry. Just wish there were more brokers who are willing share.
I think it makes sense when especially as a seller; why wouldn’t you want everyone in the market to know you are interested in selling? That’s the only way to get the highest and best price for your property.
“We’re the good guys! We do it the right way!! Even though our brokers do the same bullshit we decry with this shitty video we paid $2,500 for!!”
It is a just a commercial…… how many times is this stated to get business by brokerage firms and their sales agents. The question is – is there complete truth in this advertisement? How do they network nationwide with every commercial brokerage? There is truth that some brokers run through all of their contacts first to double end a deal and will not agree to split commission – this does not serve the client well. On the other hand, is the client willing to pay fairly and what is fair? Savvy sellers will ask their agent what they are doing and demand regular reports. Every diligent agent knows the magnitude of work and time it takes to successfully bring the deal over the finish line. I find this ad denigrates commercial brokerage practices, not positive since there are many diligent, experienced, honest and service oriented agents.
There are many facets and stages to market and close a transaction, part of the processes – information sharing, exposure and splitting commissions are essential, is this advert true.
How do you get a database of all the commercial brokers?
Nice in theory but somewhat hypocritical. I have personal knowledge of a scenario in my town. There is a former golf course here that is one of the last large parcels available for development within the city limits. The owner of my firm and the property owner know each other from way back. We contacted him about the land and he referred us to his Broker. I gave him a call since I knew him from when he tried to recruit me it his SPV office here. After we chatted I emailed him a follow up regarding cooperating broker commissions and he responded that his agreement did not call for it but that any developer would be happy to pay me a fee if I brought them the deal. This guy owns an SPV office. Needless to say, the land is languishing and is not currently advertised anywhere that I know of . It’s currently used for cattle grazing despite being surrounded by developed neighborhoods. Not exactly HABU.
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