Retainers

**bob7849** · 12-10-2010, 04:36 PM

Why don't we ask for a retainer?

Why is this one of the few industries where we do all the work up front without any compensation?

I take a retainer from all my buyer clients. Without it, there's no loyalty or commitment. I think it would be wise to do the same for seller clients. Why should a seller benefit from your advertising, especially if the property doesn't sell.

**Jonathan Radford** · 12-16-2010, 06:36 AM

I think you present a valid point to some degree. I am interested to see the responses here. However, as for your comment:

Why should a seller benefit from your advertising, especially if the property doesn't sell.

I think it could be argued that, at least in the sellers mind, he/she has not really benefited from your advertising if the property doesn't sell.

**Bones** · 12-16-2010, 08:21 AM

I have a buddy in the real estate business that talks about doing this quite a bit. I think it would make it pretty hard to get business.

**byHomeOwner** · 12-16-2010, 09:57 AM

In my opinion there is a race to the bottom, with a lot of downward press on commission rates. I doubt you could impose a retainer agreement on a home seller unless there was some sort of commission reduction associated with it.

**flash.investing** · 02-24-2011, 10:04 AM

Unfortunately, agents have to suffer the repercussions of the mortgage industry's rampant abuse of application fees. It will be a while before consumers trust real estate professionals enough to pay retainers.

**LandMan** · 03-11-2011, 12:53 PM

A bunch of years ago, when the big push was on for Single Agency, I used retainers when working as a buyer's broker. In that case, the retainer was usually recovered by the great negotiation on price.

Don;t think it would work in the current market though.

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