LET'S NOT HAVE TOO MUCH FUN...

Surviving the Slump
by Ralph Roberts

Realtors across the country are hurting. Housing markets are in a downward spiral. Homeowners are flocking to FSBO websites to list their own homes. Internet lead generation services are heating up the competition. And many agents are offering cut-rate commissions to survive the cutthroat market...

Realtors have to remember, however, what most retailers already know -- competing on price alone is for suckers. Start offering sellers lower commissions and you are setting yourself up for a world of hurt, both in the short-term and well into the future. Once you establish a reputation as the "cheapest agent on the block," turning that around later can be nearly impossible.

Instead of competing by offering lower commissions, find something else to compete on -- quality service, experience, and know-how. Adjust your marketing materials to highlight current market conditions and your unique ability to sell homes in a down market...

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