I am telling the public that……

……. I am confident in my abilities that they do not have to place their money at risk to retain me.

This came about from an interesting Q and A on Linkedin in  the question was   What are the inherent advantages and disadvantages to a real estate professional providing all services up front without compensation until closing?

and the response from Greg Holman was

“That is an interesting question. Unlike any other profession, we do not get paid unless the deal closes.

- Lawyers get paid even if they loose the case,

- If the patient dies, doctors still get paid.

- The IRS can audit you and charge you with back taxes, but your CPA has been paid.

The key factor is that the other licensed professionals are paid on a ‘fee for service’ basis, usually at the time services are rendered.

FFS is an option that has been around in the real estate world for some time, and appropriate for some cases.

On the other hand, by accepting payment only upon a successful close, I am in effect offering a satisfaction guarantee to my clients, much like an attorney working on a contingency basis (most of them won’t unless it is a ‘slam-dunk’ case). I am telling the public that I am confident in my abilities that they do not have to place their money at risk to retain me.

In a FFS realty model, the broker does not really care if the property is priced right or even if it sells – they get paid up front.”

I thought this was interesting because Yes I am offering a satisfaction guarantee for every client I work with.  I do all the work upfront, spend my time, energy and money upfront and only get compensated if my client is satisfied.  and as Greg says I am telling the public that I am confident in my abilities that they do not have to place their money at risk to retain me.

I am happy to do it.  This is a fantastic business and I am  good at it.

Questions or comments feel free to contact me anytime.   Norm@callnorm.com   or 703-587-0945