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Many of you know I like to compare my real estate business with my flying hobby. And all of this talk about whether REALTORS are really necessary, are they paid too much, whose money is the commission remind me of pilots.
And by that I mean this. Pilots earn their way up the pay scale ladder like anyone. And when they get to the top area they are making $150,000 or more in some cases. And people love to say “are they worth it?”
After all, the computers practically fly the thing. And I want my tickets cheaper. Can we cut his salary a little and save money? Well, I guess you could. And then the really experienced guys might find other options.
How much would you have paid that pilot that landed that Jet Blue plane? Would you have been negotiating his salary as you flew around LA for 3 hours burning off fuel so he could put that bird on the ground? Did you see how straight he kept that thing going down the runway? Did you notice no one was killed? How much should that pilot make for his services? After all, most of the time there is no emergency, right?
Seldom, and I mean seldom, am I involved in three real estate transactions in a row and not have to get into some sort of troubled waters and get things cleared up. It could be;
- title problems.
- loan problems.
- appraisal problems.
- inspection problems.
- other agent problems.
- flood plain problems.
- insurance problems.
Do I need to list all of the possibilities. When you pay a competent real estate agent you are paying for their education, their licensing fees, their overhead, their insurance. You are also paying for their experience, their knowledge, the professionalism.
Think about that plane the next time you are wanting to discount your agent’s commission. If you want me to cut my rates by 40% I may only be inclined to solve 60% of your problems. It’s just human nature, right?