Time to Double You!
[AUDIO] More proof that what people want is more YOU, not less.
When a client asks you to cut your fee, what’s the least likely thing they expect you to do? Give in? Negotiate halfway? Or something else.
Let me tell you a story of the time I almost gave away my fee, and the client gladly doubled it.
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You’re Worth Even More than You Believe
And the data proves it.
About two years ago, a major lawsuit threatened to upend the real estate industry as we know it. The common belief was it would decimate commissions, especially for buyer’s agents. And yet, here we are, two years later, having settled the lawsuit and taken heaps of blame in the press, and not only have average brokerage commissions not declined — they’ve gone up!
And it’s really ******* off the pundits (just check out this New York Times screed).
What the Data Says About You
Before the settlement, everyone claimed the writing was on the wall:
“OPENDOOR CEO SAYS COMMISSIONS ALREADY FALLING AHEAD OF SETTLEMENT CHANGES” (RISMedia, August 2024) and:
“The new normal? Evidence already suggests agent commission compression” (Housingwire, August 2024)
And yet, five months after the settlement:
“Most buyer agents (55%) and listing agents (64%) in the United States said they haven't seen meaningful changes to commission rates…” REAL Brokerage Survey / Housingwire December 2024.
“The average buyer’s agent commission was 2.40% … in the first quarter…up slightly from 2.37% in the fourth quarter of 2024 and 2.36% in the third quarter of 2024…” (Redfin, January 2025)
Indeed, multiple reports show the average brokerage commission rate, for sellers and buyers agents, remained steady or — in many cases — increased since the settlement.
How could that have happened?
You Showed Up, Better than Ever
How do you answer when a client asks you to cut your fees?
Even before the settlement, you’ve always had a choice: Some people poorly negotiate by trying to split the difference. That’s a mistake, not because you shouldn’t negotiate, but because splitting the difference isn’t answering the consumer’s concern:
It’s not, “How much will I pay?” but “How much are you worth?” And negotiations don’t answer that question.
You do.
By which I mean, you must give the answer in the form of a sales presentation, not a price negotiation. You must explain your value proposition, not convince someone of your price point. People know the difference: Many pay much more for something they value, even when a less costly version is just inches away. (Think: first class airline seats versus coach; or a Ritz-Carlton just a block away from a Holiday Inn).
Value has little to do with price. It has everything to do with presentation.
And that’s exactly what you (and the whole industry) spent the last year working on: rehearsing, updating, improving, and communicating your value proposition (video workshop) — without reducing the price of that value one iota.
Double Your Value, not Halve Your Cost
A few months ago, a new client asked me to speak at their conference. “We’ve been hoping to get you for a few years,” they said. “We love your style!”
So I presented options for different keynote programs, including my relevant experience, customizing the message for their audience, and ideas on delivery styles. I discussed the dates, travel, timing, and fees, and closed with the ask:
“Does this sound like what you want?”
To which they readily agreed to the full price.
But Wait, there’s More!
“Before we go, we’re wondering if you would do us a favor?” they continued. “Would you be willing to coach the leadership team on our own presentations for that day?”
“Sure,” I said, thinking they sought something extra for paying the full fee. “I’d happily help everyone rehearse their speeches. No cost, either.”
That’s when the client paused, and I started to panic.
“Well, that’s very nice of you,” they said slowly. “But to be honest, we need a lot of help. We were thinking you could charge us the same amount again as your presentation, and coach us once a month until the conference.”
Wait. What?
Did they just ask me to double my fee, rather than give some away?
I quickly recovered. “Um, sure! I could do that. Sounds reasonable to me,” I smiled broadly.
“Great,” said the client. “That’s reasonable to us, too. Actually,” they gave a little laugh, “last year’s speaker charged us twice that amount, and he wasn’t very helpful. This is going to be really great for us, since you’re so much better!”
Oh!
Your Worth isn’t the same as Your Price
This is the hardest part to learn.
What someone is willing to pay you isn’t the same as what you’re worth.
We know that, because the same violinist who gets a few coins thrown into a hat when playing on the street corner could be the same person who will play Carnegie Hall that evening for six figures!
Change the audience, change the pay.
But someone else’s budget never changes your worth.
Which takes us back to the original question: What’s the least likely thing someone expects you to say when they ask you to cut your fee? Probably this:
“Thanks, but I hoped I’d explained why I’m worth twice the price I’m already offering. Is there something about who I am and what I can do for you that I could further share, because I’d really like to help?”
Said with a smile, looking them in the eye, with a firm handshake.
And unwavering confidence that you’re worth it.
Does it work? No doubt in my mind: More than a million real estate professionals practiced saying essentially that for a year, and five months after they were told they were “going to be put out of business,” they aren’t just surviving:
They’re thriving!
It seems to me that what people want isn’t to pay less — but to get more — of the one thing that matters more than cost:
More of YOU!
— M