A client called and said they’d just watched some speaker predict average brokerage commission rates falling - by half - over the next decade. The client was quite upset.
“That will destroy the industry. What can we do?”
I thought about it a minute and said, “I’d say the key is to make sure you’re not an average brokerage.”
Friends, let me remind you that industries of all kinds are diverse, complex and smart - and so are consumers. Want a coffee? $1 at a diner or $5 at Starbucks. Need a car? $15,000 basic model of $75,000 for a luxury import. Flying to Vegas? $99 cheap seats or $750 for First Class. You get the picture.
The “average brokerage commission rate” is only a problem if you’re an “average broker.”
It has always been like this. But averages are just one possible mindset. Excellence is another. Thirty years ago I worked with brokers who charged twice as much as everyone in their local marketplace. Many of my clients still do, even after all the cost-cutting, disrupto-babble inventions have threatened to make it cheaper than bubble-gum to sell a home.
Because they are *that* good!
The law of averages works great for things like the speed of light or weather data. But when it comes to human performance, you have the ability, the choice and the unlimited opportunity to perform way beyond the long arm of that law:
Become so good, the average doesn’t matter.
Stay epic, my friends! 😎