When we look up what experience means in the dictionary, we get an assortment of meanings from verb to adjective to noun: knowledge, venture, background and on and on.
So now we face yet another competitor in our business in the guise of a soon to be broker, Rogers Communications (via the Zoocasa website). Rogers’ Canada-wide enterprises totally overwhelm the miniscule numbers of members of CREA. At the helm is the well-documented hero of slash and burn commissions, Lawrence Dale, formerly of RealtySellers.
Now don’t get me wrong, I’m in no way denigrating either Rogers or Mr. Dale’s entrepreneurship. I’m questioning and shrugging at the same time. Do we really need Rogers in our business? We’re not in theirs!
From what I have read, Rogers, under the watchful eye of Mr. Dale, will grace our incomes with referrals based on who will give them the highest referral fee. Hmm. Let me see, if an experienced agent is working his system, he doesn’t need Rogers’ lead system. It may be okay for an inexperienced agent who is hungry for his first deal or first several deals. But at what referral cost(s)? And would a typical homeowner want an experienced agent to sell his most valued possession based on a referral from a telecommunications company? A mega corporate giant with no attachment or credentials to perform the services that we can, as long-standing providers of real estate related services?
Mr. Dale is a learned lawyer and has been recorded as an opponent of the current MLS systems. I am sure he will render great advice to Rogers in their quest to become a Realtor’s best friend!
Not too many of you remember Moneytree Mortgage Fund in the U.S. They too thought that they could feed Realtors leads from their clients. They are no more.
Look, I am not saying that Rogers has no right to expand their already huge enterprise, which is now looking like a “Big Brother” corporation. It just seems that each year we’re facing more challenges.
So, back to experience. What’s your experience worth? What’s it worth if you get what I’d call a legitimate referral from a friend, business or another agent? Does the consumer want to have a knowledgeable and trusted advisor to hunt for a home or sell their own? I’m not saying that a new agent who takes a Rogers referral will necessarily mess up, but let’s pretend than we’re not agents for a minute and we’re transported to being consumers. We would want someone who had knowledge and the expertise to see an offer/listing through from start to finish.
And all of that has a value that’s transposed to the commissions we charge – and I can’t say what you should or shouldn’t charge. The value of your experience(s) dictates what commission you feel you are worth. For newer agents, my advice is to associate yourself with an experienced agent to lend credence to your zeal and quest for a successful career.
Experience the help of a mentor. Then later in your years of business, pay it forward!
I encourage all of you to tap into your own experience and then decide if Rogers’ referral system will add to your ability to earn the money you deserve.
Stan Albert, broker/manager, ABR, ASA at Re/Max Premier in Vaughan, Ont. can be reached for consultation at [email protected]. Stan is now celebrating his 43rd year as an active real estate professional.