Transaction Fee – Revisited

Posted: January 7, 2008 in General

When I first started doing Transaction Coordination here at Keller Williams, I blogged about how to charge a transaction fee to the client (see HERE). I had quite a few agents come to my office and say two things –

1. I use to charge a transaction fee, but I quit. I am now going to start charging one again.

2. I’ve never heard of that before. That’s a great idea and I totally see the value in it.

And since that time those same agents (the one who said #2) have come to my office with transactions for me to do and stated that the transaction fee was a no brainer to the client.

What is so ironic to me is that there are still agents within the office who think that my services will cost them (the agent) money. I still see agents and say, “Don’t forget to give me a try. I’m saving a lot of agents time and energy.” Their response to me is, “I’ve heard a lot of great things. I just have to wait until I have a little bit more money so that I can afford you before I can use you.”

Um, huh? This is almost the look that immediately is slapped onto my face in astonishment. I don’t fault the agent for their statement. I fault myself for not educating them properly. After all, ignorance is nothing more than a lack of knowledge. This can’t be dealt with.

When an agent makes a statement like that to me, I will typically respond in this way – “You don’t have to pay me though!” This is when they stop doing whatever it is that they are doing and they say, “How is that?” I say to them, “If you charge your client a small transaction fee, then the transaction fee pays for my services. So the money that pays for my service is paid at closing and does NOT come out of your pocket.” At this point the agent usually stands looking at me with a dual look – excitement and disbelief!

If you are the agent who thinks that you have to make a little more money before you can have my team as your personal transaction coordinators – stop it! You can employ us right now. And if you are the agent who has just not yet taken my services for a “test run,” give me a try. I promise you there will be an exceeding of your expectations.

Dustin Curlee…

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