Why I Said No to $20,000 in Commissions

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Nico Hohman

Nico Hohman

By Nico Hohman

It is easier to turn someone down, than to let them down.

This is the phrase I used to happily say no to $20,000 in real estate commissions.

One of the advantages of working as a real estate agent is that you can control which projects you choose to work on. If you want to focus on waterfront properties, or investment properties, or rental properties you have the ability to do just that. Said another way, you have the same ability to choose which type of projects you do not want to work on.

@Alvimann; 2010. MorgueFile.

@Alvimann; 2010. MorgueFile.

As you begin your real estate career – or even if you have been in the industry for several years – you should establish a set of business standards that guide how you conduct your business. It is through my own business standards that I was able to happily say no to a project worth $20,000 in gross commissions.

As sales professionals, our first instinct is to say yes to our clients and potential clients. We are in the business of helping our clients get what they want, and the easiest way to do that is to say yes.

But the truly great real estate sales professionals know that saying no is important and necessary.

Do you have trouble saying no? Look at it this way: It’s easier to turn someone down than it is to let them down. If you start a business relationship with a client by constantly saying yes to all of his or her wishes, you might find it difficult to say no when you need to. You might be worried about letting him or her down. However, if you start your business relationship with realistic expectations, then you won’t have to worry about letting them down when it comes time to say no. You have established your business standards, which lets your clients know how they can expect to work with you.

With my particular project, Mr. and Mrs. Seller were adamant about choosing option A. Through my experience and professional background, I believed option B would be best for them. If I did not have standards on how I conduct my business, I might have let the sellers have whatever they wanted simply to please them. This would have ended poorly for all parties involved. Instead, I knew the best option for me – and the sellers – was to walk away from this project and turn them down.

Remember, it is easier to turn someone down than to let them down.

As you advance in your real estate career, one of the best tools you have in your toolbox is the ability to say no. Saying no is a great way to build your business standards. And if I can say no to $20,000, what are some easy things you can say no to?

Nico Hohman is a Tampa-based real estate pro with NextHome Discovery who works on renovation and rehab properties. Learn more about Nico at hohmanhomes.com or connect on Twitter: @thenicohohman.

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