Imagine you’re planning to cook a lamb on the spit. A Greek delicacy. You visit your local butcher and ask him for a lamb and he replies,
Butcher: “Sorry mate, I’m all out of lambs but give me $200 and I’ll go to the market tomorrow and try to get you one”.
A day passes and you revisit the butcher to pick up the lamb.
Butcher says: “Bad news about the lamb, I couldn’t find one and spent your $200 on advertising.
No doubt you wouldn’t accept this and you’d ask for your $200 back. The thought of paying money for no result is nothing short of madness. Yet it seems to be standard practice in the Real Estate industry.
Q: Why does a home buyer contact a real estate agent?
A: Because the buyer assumes the agent has homes to sell.
Q: Why does a home seller contact a real estate agent?
A. Because the home seller assumes the agent has buyers.
So why then do the agents ask for money to advertise to find buyers? Is it to promote the house or themselves? I wonder!
The message is simple, only pay when you get a result that is fair. Why should you pay for not result? No sheep, No money. End of Story.