Seth writes of the 7% solution [Read Here]. The basic premise is couched in the ever popular trend of discount brokers in the real estate industry. Seth suggests thinking about moving commissions to 7% in lieu of 4 or 5% as the discounters are now doing. His question is what would you do different in order to substantiate the value of being at 7%.
It is an interesting thought for our business. What if, in lieu if discounted rents or concessions, we came of with amazing value adds to substantiate raising rents in a down market.
What would you add?