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Pat Monahan, CRS, GRI
Competition and the Real Estate Workshop--Comment, Project No. V050015
Dear Mr. Quinn,
We don't need to use a form letter to tell you that the real estate business is competitive, we live the competition every day. We compete with thousands of real estate agents in our market place. At classes and gatherings of real estate agents, all agree there is pressure by consumers to provide outstanding service and competitive commissions. Just as any business, we all struggle to distinguish ourselves from the competition.
Perhaps the most telling factor of competition is our marketing expense. We spend 11% of our gross commission income on marketing and promoting our services in order to obtain clients. This is separate from all expenses for marketing the homes themselves.
In closing we want to state that we consider ourselves a small business and enjoy being able to live the American dream of having our own business. We believe that the current competitive market benefits consumers by providing choices and a large quantity of information to use in choosing their agent.
Pat and Amy Monahan