How to Value your Client
1:00 minute read.
In real estate, it’s easy to “size up” a client based on the income potential they offer. Are they looking to buy in the $400k’s? Or in the $100k’s? Unfortunately, many agents engage in the habit of mentally calculating their commissions before even showing the first home. Ka-ching, ka-ching. But there is an inherent problem with this way of thinking. We work in a “know you, like you, trust you” business. If agents are too concerned with commissions, the value is placed on the income rather than the person, and they'll tend to serve (or not) their clients accordingly. Do you really want a “discount” on your client’s trust? In light of this tendency, I offer a different way of thinking.
“A business that makes nothing but money
is a poor business.”
– Henry Ford
To put things in perspective, look in the mirror. How many of you are there? Are you a dime a dozen? Are you the same as everyone else? Nope. Obviously, you’re one of a kind. There has never before in history been anyone like you and there never will be again. Even if you’re a twin, you have unique thoughts, feelings and characteristics that are only your own, and you value the things that are uniquely important to you. Who could put a price tag on that?
When dealing with clients, we encourage agents to see them as infinitely valuable - just because they are one-of-a-kind people. We serve them because they deserve to be served and treated with the same honesty, integrity and respect that we expect to be treated with ourselves. We are after all, serving people, not budgets, right?
When we bought our first home, it only cost $60,000 at the time, but it was more money than we’d ever spent on anything. We knew nothing. We were at the mercy of our agent who, thank God, kindly walked us through many different properties, gave us great guidance, calmed our fears, helped us write a solid offer and walked with us all the way through to closing. She treated us with the utmost respect and was available to us whenever we had questions. You could say she treated us like we were worth millions, even though her commission was far from it. But because of her impeccable service, we called her again and again. She is the reason we chose a career in real estate years later.
The role you have as an agent in the life of your client is very significant. You’re guiding them through one of the biggest financial and life decisions they’ll ever make. They need 100% of your focus and integrity. If you give it to them, 99% of the time it will pay you back in spades, even if that particular commission doesn’t have as many digits as you’d like.
When you make the choice to value people as individuals rather than potential commissions, I promise, you will get something far more valuable than a fat check at closing. You’ll have the priceless trust of your clients. And believe me, they’ll tell all their friends about you. Some call it karma… I call it the principle of sowing and reaping. If you do right by people and choose to place value where it truly belongs, your income will take care of itself.
What would you pay for a good reputation? I can’t put a price tag on that, can you?