What many Sellers don’t realize, is that some Toronto real estate agents charge a ‘marketing fee’ to the agent who brings the Buyer. It varies from $25-$250 and comes out of the commission amount they are offering the agent who brings the Buyer. While it’s a small percentage of agents who do this and it doesn’t really amount to that much money, it’s a point of great contention to many agents. Here’s why:
- Listing agents normally pay the expenses associated with listing properties, and Buyer agents normally pay the expenses associated with representing Buyers. It seems strange (and let’s be honest, a bit insulting) that some agents ask a Buyer agent to pay for both.
- If a listing agent is spending $25 or even $250 on marketing, I can guarantee you they are NOT doing a good job. Marketing properties costs a lot more than that.
- The agents who charge the marketing fees are usually those who have taken their photos with their iPhone and aren’t actually doing any marketing. Sometimes, I wonder what they spent the $25 on.
I didn’t know Will until today. I found out about him because someone I know came across one of his listings and noticed that he was offering the agent who brings the Buyer a $25 bonus anti-marketing fee. So instead of charging the Buyer agent the silly fee, he’s actually giving it to them. Classy.
None of Will’s clients will likely ever know he’s doing this. It isn’t a marketing ploy. But it’s a brilliant way to build positive relationships with other agents and help his listings stand out. It’s not the $25 that will make the difference – it’s the awesomeness behind the principle that makes the difference.
And so today, I raise my glass to Will Wilkinson. Today, I’m proud to be an agent and share a profession with someone like him.
**It has just come to my attention that Thomas Mirkovich (also an agent at RE/MAX) offered an anti-marketing fee in January and may in fact have been the originator of the idea. So really, awesomeness all around.