# Tom Panos — Commission & Pricing Scripts for Estate Agents

Source: Real Estate Gym (Tom Panos)

## Commission Accelerator Scheme

An accelerated/bonus commission scheme negotiated with the vendor at the time of listing. Once you beat a certain figure on the sale, you earn an accelerated rate.

**When to use:**
- At the time of listing when discussing fee (once the vendor has decided to go with you)
- Works best in high-energy selling seasons
- Not suitable for every property — only where you can bring genuine extra value

**Script:**
> YOU: "Mr & Mrs Vendor, what's the number that's going to make you happy at the end of the day?"
> VENDOR: "£1.2m"
> YOU: "OK that's good. Our standard fee is 1.5%. Can I ask you this: if I get you an extra £100k, would you be happy to give me £10k?"
> VENDOR: "Yes"
> YOU: "OK well I'm going to back myself here. If you're agreeing to give me £10k if I get you another hundred, let's put in the scheme of 1.5% up to £1.2m and then 10% thereafter. Are you comfortable with that?"

**UK adaptation:** Adjust base fee percentage to reflect UK market norms (typically 1–1.5% + VAT vs Australian 2%).

## 3 Types of Prices, 4 Types of Buyers

The best way to handle "What's my house worth?"

**Step 1:** Find out their expectations in the pre-listing stage over the phone.

**Step 2:** Explain there are 3 prices in property:
> "Mr & Mrs Vendor, my job is to help you find the Emotional buyer. So our strategy is to get you the Emotional price which comes from an Emotional buyer. The way we do it is by launching a marketing campaign that's going to attract all the buyers in the marketplace."

**Step 3:** Explain the 4 types of buyers:
> "The way we're going to get you an emotional figure is by launching a campaign that finds 100% of the buyers. If we don't use 100% of the marketing resources available to us, how will we get 100% of the potential price in your property?"

**VPA (Vendor Paid Advertising) dialogue:**
> "Mr & Mrs Vendor, I've seen many owners lose tens of thousands of pounds at the point of sale because they tried to save a few thousand at the time of listing. I simply refuse to under-market your home and apologise later."

## Buyer Negotiation Dialogue

When responding to the first offer from a buyer or extracting a higher price:

> "Thanks for that offer. That price level has already been tested and is unlikely to be accepted. If it wasn't accepted, what would your next offer be?"

OR

> "Thanks for that offer. If it wasn't accepted, where would you go next?"

## The "What If" Script

Use in any negotiation situation:

**Giving an offer to vendors (e.g. £580k) and they reject:**
> "Can I ask you — what if the buyer came back and went to £582k? What would happen then?"

**Setting the reserve with vendors (e.g. £600k):**
> "Can I ask you — what if the bidding stops at £550k? What would happen next?"

**Negotiating with buyers (offer of £550k, asking price £575k):**
> "What if the vendors came down to £570k, what would you do then?"

**Why it's powerful:** By asking "what if…?" you bring forth hypothetical scenarios that reveal true expectations without any pressure.

## Hope-to-Get vs Expected Price

To reveal how much the vendor is really prepared to accept:

> "I have a buyer that's ready to go, they can sign a contract in the next 24 hours. Their limit is £[market value]. Am I wasting my time bringing them around?"

Three responses reveal motivation level:
1. "Yes, you're wasting your time" → unmotivated vendor
2. "Will the buyer come up a little?" → positive, negotiable
3. "Yes, bring them around" → motivated, ignore asking price

## Tom Ferry Objection Handling (Complementary)

### "Your commission is too high"
> "Totally fair question. Can I ask, compared to what?"
> [Let them answer]
> "Of course you want the best possible price. My job is to create demand so we attract multiple buyers and maximise your result. If I could show you how our marketing could potentially put tens of thousands more in your pocket, would the fee still be the main concern?"

### "We want to try a higher price"
> "I completely understand. Everyone wants the highest possible price."
> [Pause]
> "If the market tells us in the first few weeks that buyers aren't responding at that level, would you be comfortable adjusting quickly so we don't lose momentum?"

### "We want to think about it"
> "Of course. Buying or selling a home is a big decision."
> [Pause]
> "Just so I understand, is there something you're unsure about that I can help clarify?"
> "Is it the price, the marketing, or choosing the right agent?"

### "Another agent is cheaper"
> "I understand. Choosing the right agent is important."
> [Pause]
> "Besides the fee, what else are you considering when deciding who to work with?"
> "Sometimes the cheapest agent ends up being the most expensive if the property sits on the market or sells below its potential."

### 4-Step Formula
1. Acknowledge the concern
2. Ask a question
3. Understand the real objection
4. Reframe the conversation