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Always thought a flat fee was better than a commission for property sourcing
I was helping a developer find land in Austin and gave them a choice: $5,000 flat or 1% of the purchase price. They picked the flat fee to 'save money'. The deal fell apart after 80 hours of my work because their budget was unrealistic. Now I only work on commission; it filters out the people who aren't serious. How do you guys structure your sourcing fees to avoid wasting time?
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williams.luna5mo ago
Feel your pain, that's a brutal way to learn. Commission definitely aligns everyone's goals better.
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the_robin4mo ago
Brutal way to learn" is right. My buddy once took a low commission deal just to close something fast and the buyer bailed last second. He spent months on it for basically nothing.
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