You remember Wimpy? That Sleaze-ball in Popeye.
For the younger real estate people out there wondering; Who's Popeye? Popeye first appeared in a comic strip in 1929 and was later developed into a TV cartoon character. Wimpy played a supporting role who had a serious addiction to hamburgers. So-much-so, he would have sold his own mother down the river to get his mouth around one.
His famous line was: "I'll gladly pay you Tuesday for a hamburger today." Spoken like a true addict.
Well, let me tell you what a "Wimpy" is in the real estate business.
I'm sitting down with a property owner just finishing up a listing presentation, when he says to me "lets talk about your commission". (When the first thing mentioned is my commission, I know it's never good and things are about to go sideways.) He goes on to say that If I take this listing for a (significantly) reduced fee, he will also give me a listing on another property that he's planning to sell sometime in the future.
So I reply, Oh, what you're offering me is a Wimpy! (perplexed look) You know. Wimpy? On Popeye? I'll gladly pay you Tuesday for a hamburger today? At this point, if we can't come to an agreement, I pass.
I never let the conversation evolve to see if on the second listing I'll receive my customary commission rate, plus the portion of the commission that I didn't receive on selling the first listing. There's probably a third future property to list, if only I take a reduced fee on listing the second property too. Talk about diminishing returns!
I don't believe there is ever a second property. The whole thing smells like, well, a rotten hamburger. Although, I'm sure some of my competitors are willing to take a "Wimpy" for a listing.
You know, I never saw anyone take Wimpy up on his offer. And, I never saw Wimpy pay anyone back.
