The chief dilemma for the contemporary real estate agent is: how do I demonstrate my value?
It’s a question that can be answered in a variety of ways (i.e. be an information source, develop neighborhood expertise, etc.) and for some clients your approach will work, and others it won’t. Different people want different things. But most people can agree they want to avoid unnecessary spending.
Saving clients money has become so crucial to an agent’s value that many give up a portion of their incomes to show clients they can provide.
In a recent Redfin survey of over 2,000 home buyers and sellers, 60 percent of respondents who had sold a home in the past year admitted to getting a discount on the commission they paid their agents, while 46 percent of buyer respondents claimed their agents had given them a refund, closing cost contribution or other form of savings of more than $100.
The national median annual salary of real estate agents is $39,140, according to the U.S. Bureau. For the average U.S. worker the median salary is over $50,000.
The bulk of agents aren’t top producers or the million-dollar luxury super agents you see on Bravo. They’re everyday people who feel it when even $100 is taken out of their paychecks. And they can help their clients discover ways to save money, like bundling their auto and home (or condo) insurance.
In Texas, using a hypothetical 45-year-old married woman with a bachelor’s degree, excellent credit score and no lapse in coverage, bundling auto and home insurance will save $473, according to a Quadrant Information Services study commissioned by insuranceQuotes (iQ).
| State | Combined Auto & Home Premium Total | Bundling Discount % | Bundling Savings |
|---|---|---|---|
| Louisiana | $2,968 | -19.68% | $584 |
| Oklahoma | $2,422 | -22.34% | $541 |
| Texas | $2,732 | 17.30% | $473 |
| Kansas | $2,012 | 22.07% | $444 |
| Mississippi | $2,163 | 19.90% | $430 |
| Arkansas | $1,886 | -22.35% | $421 |
| Minnesota | $1,967 | -21.25% | $418 |
| Alabama | $1,997 | -20.75% | $414 |
| Missouri | $1,847 | -22.39% | $414 |
| Nebraska | $1,790 | -22.07% | $395 |
| Illinois | $1,683 | -23.31% | $392 |
| Massachusetts | $2,271 | -17.23% | $391 |
| Washington, D.C. | $2,337 | -15.38% | $359 |
| Colorado | $1,938 | -18.37% | $356 |
| South Carolina | $2,008 | -17.57% | $353 |
| Georiga | $1,845 | -18.99% | $350 |
| Kentucky | $1,754 | -19.61% | $344 |
| Rhode Island | $2,400 | -13.40% | $322 |
| Indiana | $1,509 | -21.18% | $320 |
| Tennessee | $1,794 | -17.77% | $319 |
| South Dakota | $1,496 | -20.67% | $309 |
| Iowa | $1,404 | -21.10% | $296 |
| Michigan | $1,970 | -15.01% | $296 |
| Connectiut | $2,285 | -12.69% | $290 |
| Pennsylvania | $1,704 | -16.89% | $288 |
| Delaware | $1,810 | -15.87% | $287 |
| Ohio | $1,422 | -20.17% | $287 |
| Maryland | $1,883 | -15.17% | $286 |
| New Mexico | $1,621 | -17.52% | $284 |
| Montana | $1,616 | -17.12% | $277 |
| New York | $2,395 | -11.18% | $268 |
| West Virginia | $1,703 | -15.69% | $267 |
| Arizona | $1,535 | -16.94% | $260 |
| California | $1,749 | -14.80% | $259 |
| New Jersey | $2,312 | -11.20% | $259 |
| Nevada | $1,623 | -15.71% | $255 |
| Wisconsin | $1,286 | -19.81% | $255 |
| Alaska | $1,869 | -13.47% | $252 |
| Oregon | $1,351 | -18.49% | $250 |
| New Hampshire | $1,618 | -15.32% | $248 |
| North Dakota | $1,683 | -14.67% | $247 |
| Florida | $3,259 | -7.30% | $238 |
| North Carolina | $1,633 | -13.84% | $226 |
| Wyoming | $1,592 | -14.17% | $226 |
| Maine | $1,369 | -16.21% | $222 |
| Idaho | $1,114 | -19.25% | $214 |
| Washington | $1,514 | -14.15% | $214 |
| Virginia | $1,630 | -11.83% | $193 |
| Utah | $1,343 | -14.20% | $191 |
| Hawaii | $1,692 | -11.15% | $189 |
| Vermont | $1,470 | -12.42% | $183 |
| U.S. | $1,937 | -16.19% | $314 |