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Thursday, August 6, 2009

Don't Compete on Price!

Michael Soon Lee by GRI Instructor Michael Soon Lee, MBA, CSP, CRS, GRI

Author: "111 Ways to Justify Your Commission" and "Black Belt Negotiating"

If a client wants you to lower your fee for listing a house or finding him or her a home just because another agent is cheaper - think twice! If you do you are now competing on price and the lowest bidder wins the client but loses in the long run. Instead of lowering your fee explain why you charge a higher price. How can companies like Nordstrom, Lexus and Waterford charge premium prices even in this economy? Simple. People appreciate and are willing to pay for value. Sell value – not price.

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