Show Me The Money!!

"If we can't tell you how we spent your money, we don't deserve it."

Ever been to the dentist? When you leave you get an itemized bill explaining exactly what was done and how much you were charged for each procedure. Imagine your bill just read

Dental Visit - $1,243.78


Now imagine the letter that would come back with your insurance claim.

DENIED - Insufficient Data


When you get a bill from your lawyer take a close look. Everything is itemized, right down to faxes, phone calls, and photocopying.


On your next real estate transaction look at the line related to commissions, assuming that you are not in the 25% of people buying and selling privately.

How exactly was the money spent? Is his golf membership listed? What about the Porche and Range Rover? Maybe her spa and manicure day? No no I am sure it cost plenty to put that crooked sign on your lawn. Ohh and the listing on the internet with the WONDERFUL photos of your kitchen table and the railing of your deck must have cost big! Did you see your house in the paper? It was just under the part that said he was "Top 1% in the world" and how he has "sold over $400 Million in real estate".

Let's be honest, if I am going to cut you a cheque for $15,000 I want you to justify it. The real estate model that my parents knew is archaic. The 5-7% commission system was built to feed a hungry machine. If only 30% - 50% of homes are selling then the few that sell are paying for all the others to try.

If you price your home right and it sells then the guy up the street decides to "try the market" and over prices by $20,000. You just paid for his advertising. Hope he said thank you.

Next time you sell a home and are thinking of using an agent ask for a detailed break down of how your commission is to be used. Tell them to include the dollars and cents specific to your house. Tell them to "Show You The Money!!"



I promise. No more Tom Cruise this week!

M