This past Sunday, the cover article of Parade Magazine was entitled "Do You Have a Better Idea?" The article talked about how solving problems can be accomplished by simply looking at the issue at hand and "thinking out of the box". From the "Forever Postage Stamp" to increasing the supply of organ donors, the article offered many examples of how we can devise simple solutions to big problems by simply borrowing an idea from another country, industry, or context and applying it to a problem.
A similar point was made by my colleague and friend, Ken Deshaies, in the foreword of my new book "Ripping the Roof off Real Estate". Ken noted that the authors of the book "Blue Ocean Strategy" described how major business successes over time have come from innovative business leaders re-imagining the business at hand.
I could think of no better way to introduce this new blog than to point out that the concept of real estate consulting is simply taking a tried and true model that works in other industries and applying it to real estate. We, the authors of this blog, think that the consulting model is the perfect medicine for what ails the real estate industry.
And make no mistake; the real estate industry is ailing. Conceptually, the business of real estate has morphed over the years from a sales profession where practitioners would simply sell a product (a house) for a sales commission to one where practitioners are not only being asked to move product but simultaneously, are expected to provide objective, fiduciary counsel and guidance to consumers looking to purchase or sell their largest asset. Yet, the method of compensation has not changed. This inherent conflict of interest is what I call in my book "the elephant in the room". Everyone knows the conflict is there but no one acknowledges it and certainly, no one wants to talk about it. But how does a real estate professional provide objective counsel when the amount of their compensation (or whether they get paid at all) is dependent on the decision the consumer makes that the agent is advising them on?
It's time for choices that make sense for the consumer and the real estate professional. Because without choices, consumers are stuck with either paying a full commission for services they might not want or need or going it totally on their own or with a discount service that doesn't provide the vital counsel and hands on care that will keep money in their pocket when they buy or sell a home.
We believe the time is now to provide consumers what they have wanted for years - responsible options that give them real value for their money yet provide the real estate professional the compensation that is worthy of the skills, experience, and expertise that we agents bring to the table. If you agree, we are looking forward to a lively discussion!
Mollie Wasserman
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With regard to a real estate transaction, and in addition to commission compensation, We also offer flat fees and capped billable hours @ $150.00 per hour together with authorized disbursements for a 90 day term with the number of hours determined by the complexity and/or difficulties as may be encountered. We further require they execute a retainer agreement together with the advance of a $300.00 non-refundable retainer.
All funds received from third parties are placed in trust and credited to the client, and upon closing the file, the surplus funds are rebated to the client.