Re: Earnest Money - Posted by Brent_IL
Posted by Brent_IL on July 29, 2003 at 15:12:15:
1 - FSBO’s don’t need earnest money, RE brokers do.
2 - The simplest counter to a RE broker is another RE broker.
Prior to working with my broker, I met her on a deal that went nowhere, but she had showed the courage to submit my offer as I explained it. I came to her office on a Friday when I knew she wouldn’t be there and left a cashier?s check marked “Advance on earned commissions” with her secretary, and made an appointment for the following Thursday. My note only included my first name, so she didn’t know what was going on, or how to contact me. At our appointment I explained that the commissions were paid in advance of the fees she would earn by getting me the information I needed, spending some time roll-playing so she could learn her part in our dog-and-pony show, and going with me to an offer presentation when other agencies were involved. She is smart, and she wanted to believe what I was telling her. She sells 60 houses a year without me so she wasn?t inexperienced. From that point onward, when I told her that the lawyer had the earnest money, she didn’t worry about it because she recalled the commission advance. She didn’t allow the other agent to make a big deal about it either.
As CPO implied, perception is important.