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Never cut your commission again

By Hannah Blackiston
10 October 2016 | 1 minute read
Real estate agent commissions

Australia’s ‘most expensive real estate agent’ tells REB he refuses to accept less than a 3.5 per cent commission, but still manages to list more than 20 properties a month.

Zed Nasheet, of LJ Hooker Hampton Park in Victoria, says fear is the number one enemy of agents – fear of asking for the commission you really want and fear of being confident enough to know you’re worth the price. 

“Don’t be scared when people ask you how much your commission is. Say 4 per cent or 3.5 per cent because I am worth every single dollar and I will make sure I get that extra 30 to 40 thousand dollars out of the buyers pocket to make your life better,” Mr Nasheet said.

“I’m actually advertising myself in my area as Australia’s most expensive real estate agent and I tell my vendor I am the most expensive you can get out there in Australia, but you’re going to get the results because you’re not only hiring me because I’m a real estate agent, you’re hiring me for my negotiation skills.” 

Mr Nasheet – who lists 21 properties a month – said vendors do not need agents to sell their houses, the houses sell themselves. He said the purpose of an agent is to negotiate the best price for their vendor, and this is where agents prove their worth and earn their commissions.

In a market where some agents routinely lower their commissions and ‘disruptor’ agencies change the playing field on what agents can charge, Mr Nasheet is an advocate of paying for quality.

Agents who are expert negotiators and who can earn their vendor top dollar for their property should have confidence in their abilities, he said.

Mr Nasheet, however, also cautioned agents against chasing commissions. He said a commission should be earned through hard work and sales results, not through lying to the vendor and promising impossible outcomes.

Never cut your commission again
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