Could such an old saying still be relevant in this day and age of highly competitive sophisticated businesses?
The younger generation probably don't know what the saying is all about. Essentially, it means that you get what you pay for. Paying peanuts means paying very little. Getting monkeys means getting incompetent people, where any money paid is wasted.
There seem to be a lot of monkeys getting around lately.
Some of the fees for sales and rental management have been discounted to the point that even agents offering a basic service would struggle to pay overheads or be capable of delivering a competent service. Perhaps potential clients should consider negotiating in bananas?
Seriously, even with all the technologies Toop&Toop have embraced and with our efficiency, and given we have pulled so many costs out, the fact remains - selling and renting property involves a lot of work. It involves far more than throwing an ad in the paper or online, and if a fee seems too good to be true, rest assured it will be.
Agents go broke. We have seen that recently. As a Seller or Landlord the laws of the universe apply, nothing is for nothing.
Short cuts in selling and managing properties are easy. Really easy. Short cuts can go undetected for quite a while, but rest assured outcomes and results vary dramatically between agents.
Those of you who have experienced unsuccessful selling campaigns know the cost of failed marketing. Landlords who take months to lease their property understand the value of a quickly leased property. There is plenty of pain associated where results are not as they should be. There is a far greater difference than any variation in fees, not to mention the added emotional trauma.
Despite all of this, some sellers and landlords continue to become completely focused on the cheapness of an agent’s fee, and blindly walk into the monkey’s cage, only to scratch their head in wonder as to what went wrong as they write out the cheques for lost rent and failed marketing costs.
Toop's Tip: Focus on what expertise, experience and track records an agent has, then negotiate a fee that is fair, and expect your agent to deliver on all their promises. Often the one that promises the least, delivers the most...and do try to avoid the monkeys.
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