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KILLING CLIENTS WITH Lending in Palmdale, California, with over thirty years in the mortgage industry. Her experience covers
Killing Clients with Kindness and Value
By Walter Sanford
Sometimes, we need to “kill” our clients with kindness and offer value. I know it goes against everything in our nature to turn the other cheek when they are being mean.
Recently, a coaching client had some challenges with a particular client, and I’m sure you have also worked with the kind of client who discourages you so much that you just want to hit the delete button!
How about offering a response that increases your fame and makes the client always wonder what they may be missing? They might not list with you, but they will never forget you.
Included in the balance of this article are the email from the client, the request for help from my coaching client, and then my suggested response.
Email from the Potential Client:
Sorry, I have been really busy. Let me tell you where I’m at with everything. You may or may not be interested.
I am definitely putting the house on the market. The house has been rented for the last 5 years with the same family. They originally signed a rent to own lease. Three years ago, they decided they didn’t want to buy it.
Anyway, I recently informed them that I’m going to put the house on the market. Now, they are reconsidering buying the house. I don’t think they will buy the house, but I guess you never know. If they do buy the house, it would be for sale by owner. I will not let them drag their feet.
We happen to know a lot of REALTORS® in (area). Some are pretty good friends and with that comes opportunities at rates way under the norm. One of them did sell our last house quickly but circumstances have changed. I know you are a very good REALTOR®, because I have heard other REALTORS® talk about you.
You may not be interested at this point anymore. If you are still interested, let me know what your best rate is. Let me know if you are okay with the current tenants on a “for sale by owner” agreement, if that happens. I would want a short-term agreement. The current rent is higher than my mortgage payment so I’m okay if they don’t buy and I’m not forced to sell at a low price. However, I want to sell ASAP. I’m wanting to purchase another property so I’m not going to overprice the house and I will negotiate.
Email from Coaching Client to Me:
Walter, this guy is a college basketball coach. I want to help him, but I need to have a chance to run a successful business, too! How do I answer this?
Email from Me to Coaching Client (to share with potential client):
Thank you so much for the nice words. It is very exciting to hear that our hard work is creating some buzz. I think we can accommodate you and exceed your expectations:
1. We believe that we exceed client expectations more often than most agents, because we spend the time to understand what the client needs.
Then we develop a customized program to meet and exceed that goal.
We would love to help you in accomplishing your real estate needs.
2. We would be happy to exclude the current residents from the listing agreement for 30 days. This would help in motivating the current residents to buy in that they can see the price discounted by the commission, if they commit to buy within the 30 day period. We would like to offer you our closing service that handles everything for a flat fee of $4,000. This handles the contract phase, aligning the team of affiliates, and the closing. This, of course, is at your option.
3..Our commissions are normal for our market, but we save you money over any commission discounter. Our specialty is increasing your net proceeds. We do this by bringing you more buyers with more effective marketing, better negotiating, better systems for handling inspections, better pre-approval tools for your buyer, better contracts, and less post-seller litigation from better contracts. Commission discounts usually cost you money because of the agent’s lack of emphasis on your net proceeds check. It is like a basketball player who is playing with no heart, only for the scholarship.
4. Our rate is retail 6%. This may eliminate us, but that would be a shortsided conclusion. Here are 5 of the ways we can beat any commission discount:
A. We beat the average List to sell ratio in (area) by a larger margin than any discount. B. We beat the days on market, which affects your carrying costs and lost opportunity costs on your equity. C. We have a low litigation rate as compared to national standards. D. We can market your home a little over retail due to our marketing.
D. We urge a pre-inspection plan to get rid of the little and big problems before a buyer is involved and wants everything built new.
5. Our agreements are 6 months, but that is not what sells properties.
Marketing and price sell property. If we are wrong about those two items, we will adjust every week based upon showings and consultations with you.
6. I would also like to advise you on a misconception. Rental costs average about 35% of market rent in our area. Add in lost opportunity costs on your equity that is not doing anything at this point. I can show you how your current position is losing you money every month.
I think our next step is a presentation of the tools we bring to achieve your goals. Listing with friends is loyal, but is it the best business decision? Do they have the tools and will you hold their feet to the fire when the results are not what you need? (Client’s name), you know the difference superstars make on a team. Let’s go for the win.
It’s not so much whether my coaching client obtained the listing, but he needed to stand up for a profitable, long term business. Never sell yourself short to get business. You will never be happy.
In these situations, I cannot guarantee an outcome, but I can guarantee the client will never forget you. You are planting seeds of discontentment with the small amount of money saved in a commission compared to not achieving their goal. Whether he/she admits it or not, he/she will have respect for you. Do more lead generation so you won’t have to work so hard on leads like these.
Copyright©, Walter Sanford. All rights reserved. Walter Sanford has been designing and implementing real estate systems for 30 years. One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry. Do what works, do what is proven. Hire Walter Sanford. Call our office at 800.792.5837, email walter@waltersanford.com, or chat with us online at www.waltersanford.com.
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4 Qualities of Exceptional Employees
Hiring a new employee is one of the more stressful parts of being a business owner. After all, you’re taking someone on and trusting that they’ll not only be a valuable addition to the team, but won’t do anything to hurt your business’s hard earned reputation.
Sometimes a person comes in and you click right away, and other times you might be blown away by an impressive resume. But there are things you should look for that might not be as obvious at first. Employees that have the following qualities are ones you should seek out, because they will definitely be well worth the time and energy you invest in them. 1. They have the confidence to be innovative
There’s a reason people are drawn to those who think outside the box. Not only do innovations often lead to an extremely profitable business, even when that thinking doesn’t pan out, creative thinking is something that will energize your business and will motivate more employees to start taking chances.
Innovative thinkers also usually have great leadership skills. Ironically, you want an employee who isn’t afraid to speak up to authority and is someone who knows how to bend the rules without breaking them. They know that
the success of the team and business is what’s most important, as long as it’s done ethically and with respect for everyone involved.
2. They are constantly reviewing their past performance
A good employee looks forward, but they also look back. They are always evaluating what worked and what didn’t work in past performances and then adjusting their plans going forward accordingly. If they are coming off a big win, they know how to capitalize on that by using the momentum and cementing in everyone’s minds the value that they add to the team.
If things didn’t go as planned, they assess what they can do better next time, and they don’t get bogged down in insecurity. They take responsibility and they have confidence that they won’t repeat past mistakes. They know that failure is a temporary state, and are able to learn lessons from their mistakes, that will make them a better employee going forward. While no one wants to fail, having the confidence to try something and fail will one day let you strike gold. Someone who lets failure shut them down, leads to a dead end and will soon make them a dead weight on your team.
3. They value teamwork
Even though an exceptional employee might be a rising star, they realize that success is not an individual endeavor, it relies strongly on who you’re working with. Exceptional employees make sure that everyone is contributing and valued for their input. They put the interests of the company above their own, and thrive in an environment where ideas and information are shared freely. Shared success is the ultimate goal for every project. Exceptional employees have the confidence to know that even when they’re not singled out for praise, they’re an irreplaceable component of a larger machine.
4. They are self-motivated learners
A key thing to remember is that while experience is a valuable commodity, intelligence and intellectual curiosity is usually something that can’t be taught. Yes, you might request employees get additional training or attend seminars, but exceptional employees will be seeking out educational opportunities constantly. Even if they don’t have a lot of money for weekend retreats, they will be getting books from the library, downloading audiobooks, and most importantly, taking advantage of one their greatest resources, YOU.
Exceptional employees know that the way to stay ahead is to always be at the forefront of new technology and systems. They don’t see educating themselves as a burden, they actually enjoy it. They realize that everything they take in, will one day make them not only an exceptional employee, but an exceptional boss as well.
