More Realtor BS: That’s The Standard Commission…I Can’t Change It | Ep 33
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In this episode of ‘Talking Realty,’ Glen Whitten from the Ohio Property Group debunks the common real estate myth that the standard commission rate is fixed and non-negotiable.
Drawing from personal experiences and recent legal precedents, Glen explains why this belief persists and how it is used to avoid uncomfortable negotiations. He provides practical advice on how home sellers can challenge inflated commissions and negotiate better deals.
The episode also highlights the benefits of working with flat-fee realtors and offers listeners insights on navigating complex real estate transactions while saving significant amounts in commission fees.
Key Moments:
- 00:00 Introduction and Disclaimer
- 00:13 Exposing Real Estate Myths
- 02:05 Negotiation Challenges in Real Estate
- 08:06 The Standard Commission Myth
- 12:02 Legal Clarifications on Commissions
- 15:32 Practical Scenarios and Negotiation Tactics
- 22:17 The Untouchable Commission Myth
- 22:27 The Persuasion Game: Lowering Commissions
- 23:24 The Buyer-Seller Dynamics
- 24:23 The Realtor’s Pitch and Hidden Costs
- 25:41 The Flat Fee Alternative
- 30:40 The Negotiation Tactics
- 32:14 Practical Advice for Challenging Commissions
- 35:55 The Power of Silence in Negotiations
- 40:07 The Final Takeaway: Commissions Are Negotiable
- 41:58 Conclusion and Final Thoughts
Resources Mentioned:
- Burnette vs NAR Lawsuit
- NAR Lawsuit Content Page
- Episode 18: Negotiating Buyer Agent Commissions
- Episode 25: Changes For Sellers Post-NAR Lawsuit
- How It Works Video Library
- Video: Traditional Realtor Flaw: “One Size Fits All Service”
- “You Can Sell It” by Glen Whitten
- Talking Realty YouTube Page
- Living To Listing: Home Prep Course
- Episode 8: Emotions Are Expensive
- “Linchpin” by Seth Godin
- Chat GPT