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One simple way to help buyer clients save money in Chicago

by James F. McClister

real-estate-save-buyers-sellers-clients-money-home-insurance-auto-bundle

The chief dilemma for the contemporary real estate agent is: how do I demonstrate my value?

It’s a question that can be answered in a variety of ways (i.e. be an information source, develop neighborhood expertise, etc.) and for some clients your approach will work, and others it won’t. Different people want different things. But most people can agree they want to avoid unnecessary spending.

Saving clients money has become so crucial to an agent’s value that many give up a portion of their incomes to show clients they can provide.

In a recent Redfin survey of over 2,000 home buyers and sellers, 60 percent of respondents who had sold a home in the past year admitted to getting a discount on the commission they paid their agents, while 46 percent of buyer respondents claimed their agents had given them a refund, closing cost contribution or other form of savings of more than $100.

The national median annual salary of real estate agents is $39,140, according to the U.S. Bureau. For the average U.S. worker the median salary is over $50,000.

The bulk of agents aren’t top producers or the million-dollar luxury super agents you see on Bravo. They’re everyday people who feel it when even $100 is taken out of their paychecks. And they can help their clients discover ways to save money, like bundling their auto and home (or condo) insurance.

In Illinois, using a hypothetical 45-year-old married woman with a bachelor’s degree, excellent credit score and no lapse in coverage, bundling auto and home insurance will save $392, according to a Quadrant Information Services study commissioned by insuranceQuotes (iQ).

State Combined Auto & Home Premium Total Bundling Discount % Bundling Savings
Louisiana $2,968 -19.68% $584
Oklahoma $2,422 -22.34% $541
Texas $2,732 17.30% $473
Kansas $2,012 22.07% $444
Mississippi $2,163 19.90% $430
Arkansas $1,886 -22.35% $421
Minnesota $1,967 -21.25% $418
Alabama $1,997 -20.75% $414
Missouri $1,847 -22.39% $414
Nebraska $1,790 -22.07% $395
Illinois $1,683 -23.31% $392
Massachusetts $2,271 -17.23% $391
Washington, D.C. $2,337 -15.38% $359
Colorado $1,938 -18.37% $356
South Carolina $2,008 -17.57% $353
Georiga $1,845 -18.99% $350
Kentucky $1,754 -19.61% $344
Rhode Island $2,400 -13.40% $322
Indiana $1,509 -21.18% $320
Tennessee $1,794 -17.77% $319
South Dakota $1,496 -20.67% $309
Iowa $1,404 -21.10% $296
Michigan $1,970 -15.01% $296
Connectiut $2,285 -12.69% $290
Pennsylvania $1,704 -16.89% $288
Delaware $1,810 -15.87% $287
Ohio $1,422 -20.17% $287
Maryland $1,883 -15.17% $286
New Mexico $1,621 -17.52% $284
Montana $1,616 -17.12% $277
New York $2,395 -11.18% $268
West Virginia $1,703 -15.69% $267
Arizona $1,535 -16.94% $260
California $1,749 -14.80% $259
New Jersey $2,312 -11.20% $259
Nevada $1,623 -15.71% $255
Wisconsin $1,286 -19.81% $255
Alaska $1,869 -13.47% $252
Oregon $1,351 -18.49% $250
New Hampshire $1,618 -15.32% $248
North Dakota $1,683 -14.67% $247
Florida $3,259 -7.30% $238
North Carolina $1,633 -13.84% $226
Wyoming $1,592 -14.17% $226
Maine $1,369 -16.21% $222
Idaho $1,114 -19.25% $214
Washington $1,514 -14.15% $214
Virginia $1,630 -11.83% $193
Utah $1,343 -14.20% $191
Hawaii $1,692 -11.15% $189
Vermont $1,470 -12.42% $183
U.S. $1,937 -16.19% $314

 

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