Frisco 3D Repayment
Hello, Michael Acquisto and Shana Acquisto, we happen to be real estate brokers, she has a collar that she can pop up, so she looks like Fonzie and she’s probably going to do it right now. Hello, Funds. How are you?
Did anyone do this?
I don’t know any old 3D if you happen to utilize them for your listing stuff and have a media day. Right. And they go out networking it cool if you have it does. But it also means that if this file does not go all the way through and cancels and for some reason we do not go all the way through and close it, then that money does need to be paid back. Yep. So we’re going to discuss one that needs to be paid back and why and how this doesn’t often happen. But it is something we need to take care of.
Yes. So, you know, as you guys know, these are upfront costs that we all invest. You do. We do. All of us. So, you know, I think that this is also something that we need to talk about in our listing presentations. Absolutely right. And I know you guys are it’s difficult because you’re out there trying to win and you’re competing against, you know, all kinds of people who will do pretty much sell their soul to have that listing.
Yes. So it’s difficult, but you have to think this is an investment and you have to share this with your client. These are this is thousands of dollars worth of investing that I’m doing on your behalf because I believe in you and I believe in your in your in your home that is going to sell.
So I think that if you if you position this in the correct place, that you’re investing basically one percent of the property value into marketing and you’re having this meeting today and all this stuff is done up front, the client’s going to respect you much more. The reason that we do this is so that you can defend your commission and make a great logical point of view that we’re not just doing photos today. We have a full fledged media day. We’re doing all these different items. And what we as a brokerage try to do is offset those costs by not charging you the full amount for what those things actually cost.
It costs us dramatically more. We lose money every single time on a media day because we want this to actually be a selling point. So you get more listings. Yeah, OK, yes. So frescoed. Three days goes out and completes this media day for you. If this listing goes through and you sign this paperwork and you go out and do it, we’re not collecting the money because what we wanted to make sure we did was never have you make a choice as a listing agent between accepting this listing and doing it correctly and doing everything for them. We never wanted you to have a roadblock and be like, I’m a little short on money.
Should I skimp here or there or cut this? We wanted to make sure it was done every single time. Right. And I think that’s really good. I think it’s just totally thinking about the client doing the right thing. So we say let’s do it all every single time. That’s kind of how we vote.
So now we go ahead and do that. But now if this file goes all the way through and then something happens and it doesn’t actually close and it becomes inactive or whatever that is, now we have to be paid back for all the expenses related to it because we’re willing to wait and we make the investment. So we have all of this investment out at all times right in each one.
And you guys are free to you know, we give you guys a lot of flexibility in to make those decisions. If you see a need that the person needs to take it off the market for a period of time or so forth. We get it. But we have to we have to reimburse in the event that it doesn’t happen. Right. So you can make that choice, but you have to use the agent will be responsible for paying back the media day expenses for sure.
Yeah. And those would be due immediately upon canceling the listing. If you do have an active listing and or any other active file that’s going to close, then you can ask me for a favor and you can tag Stacey in the transaction and say, hey, something happened here. This isn’t going to take place. It’ll be a conversation we need to have and then we can take that expense and apply it to your next closing if you would like to. But if not, it’s actually more expensive, just needs to be reimbursed.
We started a media. We’re starting to see more of just out. This person wants to cancel. And, you know, it’s not that easy. Contracts aren’t meant to be broken. They’re not written to be broken.
And it’s more for you as the agent is. What we want to do is make it a little bit more difficult on you to just cancel it. It’s easy to just be like, yeah, let’s cancel. Right. Let’s say yes, let’s say no, whatever that is. Right. And as a brokerage, we want to stand behind you and make a little difficult. We like, whoa, whoa, whoa, you know what I mean? Let’s think about this. Let’s make sure we’ve done this. Let’s make sure we’ve done that. And we don’t want you to be canceling that. Right. So we’re trying to put this a barrier in place.
And you know what? Sometimes things just come out of left field with the client and you find out things that you had no idea about before, you’ve asked every question, you just don’t know. It just came out of nowhere and those things happen. I mean, you only know this person, you know. Yeah. So well. So just know that this is this is an expense. We also will be talking about our support because they have also invested into these deals. So right now we’re talking about FASFA three days and how that that is going to need to be paid if if a contract terminates or listing terminated.
Episode Links
Acquisto Real Estate , Michael Acquisto , Shana Acquisto
