The following article lays out the various “expectations” regarding our professional relationship with real estate agents (both buyer and seller agents). It is our goal, that this article will help to clarify what we expect from the agents we work with, and what agents can expect from us.
This is the #1 rule: do not ever waste, trivialize, or disrespect our time. This is the oldest rule (often called the golden rule) in dealing with people:
treat others how you want to be treated
We will never waste your time. If we say we will do something, we will do it. If we agree to pay something, we will pay it. If at any point we feel that you do not appreciate/respect our time and energy, you will be gone: your employment will be immediately terminated.
The average US housing price according to Zillow (technically the median) in Q2 2024 is $\textdollar361,282$. The “range” of commissions (for both buyer and seller agents combined) is around $5\%$ to $6\%$ (see Ownerly) which for the average US house nets you:
$18,064 to $21,677
This of course (as you know) is typically split between both agents:
$9,032 to $10,838
We have no problem paying you a generous commission, but make no mistake: you will earn it. And by earn it we mean you will provide a reasonable quality of service for the agreed upon commission. We do not expect a ridiculous quality level, just a reasonable one. We are willing to work with you to make sure that you are fairly compensated for your hard work, time, and commitment. But you must demonstrate that you are committed to reciprocating that same respect. Needless to say, if this is not reciprocated, or we sense some lack of commitment, you will be terminated.
Before working together, we need to be on the same page on this topic: you work for us. You are being hired by us to offer a service. You are being paid a non-trivial amount of money by us, and hence we are your employer. While we always aim to work with you towards our mutual goal of buying/selling a property, do not forget that you are still our employee. If at any time you forget your place, or over step the reasonable boundaries that you as a professional should be very aware of you, your employ will be terminated.
Needless to say, we will reserve all our rights to sell whatever property in our possession to whomever and however we want. We will only accept open listing agreements. We will not even entertain any other option. Any attempt to persuade, cajole, or manipulate us to change our position in any way will lead to immediate cessation of all communication, and if employed will result in immediate termination from our employ.