But Do They Ask for Directions?
I got a great idea from a colleague today on how to save on my gas bill -- and car washes, too.
When she shows homes, she lets her client drive, and she navigates!
But for the fact that I'm prone to motion sickness when I'm not driving . . . I'd definitely consider it!
Showing posts with label Realtor costs. Show all posts
Showing posts with label Realtor costs. Show all posts
Tuesday, January 12, 2010
Sunday, December 13, 2009
$235.50 Per Showing (or Thereabouts)
How Much Does a Showing Cost?
Showing a home doesn't cost money, does it?
It does if you're a Realtor.
My cost accounting expertise -- such as it was -- is long gone, but that doesn't mean I don't have a rough sense of how much each showing costs me.
Whereas listing agents -- representing Sellers -- typically spend more out-of-pocket (for things like staging, photography, ads, etc.), Buyer's agents mostly invest time.
I don't know about other Realtors . . . but my time is pretty valuable.
Here's how I break down what goes into an individual showing:
A. Time
--Actual showing: 1 hour
--Travel time, to and from: 20 minutes
--Time to screen active listings, run by client (or screen client suggestions): 15 minutes
--Time to set up showing; prep for client, i.e., photocopies of MLS listing, run Mapquest for directions (if applicable); give feedback afterwards: 30 minutes
Total time: approximately 2 hours
B. Out-of-Pocket
--Gas: $5 (1/8 of tank); Photocopies: $.5
C. Overhead
--% of my annual state license; monthly Edina Realty fee (for my Web site, ProKit, desk fee); annual Realtor fee and continuing education; car expenses (lease payment, depreciation, etc.); monthly Realtor access key payment; etc.
Call it $30.
Not all Realtors put a dollar amount on their time, but I do: $100 per hour (and a bargain at that: as an attorney/CPA, I billed out at $175 an hour -- almost 20 years ago!).
Grand total for all the above: well over $200 per showing.
No wonder Realtors try to be efficient establishing their clients' wants and needs, zeroing in on the listings that are the closest match.
Showing a home doesn't cost money, does it?
It does if you're a Realtor.
My cost accounting expertise -- such as it was -- is long gone, but that doesn't mean I don't have a rough sense of how much each showing costs me.
Whereas listing agents -- representing Sellers -- typically spend more out-of-pocket (for things like staging, photography, ads, etc.), Buyer's agents mostly invest time.
I don't know about other Realtors . . . but my time is pretty valuable.
Here's how I break down what goes into an individual showing:
A. Time
--Actual showing: 1 hour
--Travel time, to and from: 20 minutes
--Time to screen active listings, run by client (or screen client suggestions): 15 minutes
--Time to set up showing; prep for client, i.e., photocopies of MLS listing, run Mapquest for directions (if applicable); give feedback afterwards: 30 minutes
Total time: approximately 2 hours
B. Out-of-Pocket
--Gas: $5 (1/8 of tank); Photocopies: $.5
C. Overhead
--% of my annual state license; monthly Edina Realty fee (for my Web site, ProKit, desk fee); annual Realtor fee and continuing education; car expenses (lease payment, depreciation, etc.); monthly Realtor access key payment; etc.
Call it $30.
Not all Realtors put a dollar amount on their time, but I do: $100 per hour (and a bargain at that: as an attorney/CPA, I billed out at $175 an hour -- almost 20 years ago!).
Grand total for all the above: well over $200 per showing.
No wonder Realtors try to be efficient establishing their clients' wants and needs, zeroing in on the listings that are the closest match.
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