Episode 035 - It's Not You, It's Me
It's a hard decision to make…do I keep a client to earn a commission, or do I end the relationship give up that income? The answer should be easy if you're operating at a legendary level.
The client’s needs are the most important thing to consider, but so is your sanity and opportunity for future business. Although it may be tough to walk away from THIS commission, it will almost always serve you better to step away. Doing maintains your reputation, plus it preserves the future income that comes from seeing the bigger picture.
Cut ties with those clients you cannot serve, (or that drive you nuts!) You can always get a referral and still earn a little bit of income. Remember, it’s not you, it’s me!
SHOW NOTES
- 00:50 – Mr. Roger’s Neighborhood: who are we? I’m Mr. Rogers, Cate is Daniel Tiger, Producer Christian is Mr. Green Jeans? Mr. McFeely.
- 01:54 – Today’s episode is all about cutting your losses, not your wife.
- 02:15 – Seinfeld: George Costanza, “It’s not you, it’s me.”
- 03:05 – Song of the Episode – disco fever…Gloria Gaynor, “I will survive!” Agents, you will survive. Get out of a bad situation.
- 04:22 – This song is in the top 5 all-time best disco songs. Cate: Cake had a more vulgar, grungy version. Cate’s miniature side note tangent.
- 05:22 – Make good choices that make sense for you, your business, and your client. Your business should be looking at the long-term picture. You likely did not do your best.
- 06:50 – Talk to you client! Ask them questions: how do you want me to work for you? Communicate? Explain to them how and when you communicate. Maybe you are unavailable. Can you work through expectations and issues with them?
- 07:57 – Cate: how do your client’s work? Fax?? Work with someone to fill the void that you can’t handle.
- 08:37 – Have the conversation up front. The conversations you have may reveal personality conflicts.
- 09:00 – B has a fantastic personality, and nearly everyone likes him. Shockingly, some people (an exceedingly small percentage of people) find B’s personality to be a bit over the top.
- 10:22 – Agents: just because you can do a thing, does not mean you should. Just because you can take on a client, does not mean you should take on the client.
- 10:51 – Future transactions can be affected by your decisions today.
- 11:11 – Look at the property type. Residential, commercial, agricultural, waterfront property…do you know that property type. Ask yourself, can I really help this client with this transaction.
- 12:00 – Residential agent that does not know commercial. Your license allows you to help, but should you? Probably not!
- 13:30 – It is not about the money, it is about the client. If you screw up you might lose your commission, your license and maybe more. Stay in your lane!
- 13:44 – A solution: work with another agent that is an expert in the property type. Work with another agent that is willing to take you “under their wing”.
- 14:27 – Cate: take it as an opportunity to learn. Go to lunch with several agents to work through a referral network.
- 15:15 – Develop relationships like you would with a mortgage, title, etc. How many commercial transactions will you work going into the future? Do not learn at your client’s expense.
- 16:05 – Cate sneaks in a side note tangent: Cate loves Seinfeld and has used the “it’s not you, it’s me” routine in a breakup. It’s a nice way to say, “I don’t like you anymore.” Broke up with a guy over the phone. B has broken many hearts, but let’s not talk about that. Sometimes it is me.
- 18:50 – Agents HEAR me: REFERRALS ARE OKAY! Look out for yourself, your business, or your client. Sometimes a referral is the best choice. You can still earn a little income. Cate is entitled.
- 20:30 – Sever the relationship or the transaction so you make the decision instead of the client being disappointed and you get nothing except a bad reputation.
- 21:25 – Respect is earned when you are honest with your client. Breeds goodwill. A future transaction may pay off.
- 21:57 – Cate: She has agent friends all over the city. Partner up with those friends and work together. They share tasks.
- 22:43 – Sometimes it’s the broker you work with and should get out. Don’t be afraid of the costs or hassle. Look at the greater good.
- 24:07 – Your reputation is very important in this business. A quote that was told to us: “It is as easy to get back your reputation as it is to gain back your virginity.” Social media can really hurt you. We are in a very small world. One negative review can go viral.
- 26:04 – Producer Christian: Your reputation is everything in this business, especially down the road.
- 26:30 – Cate: reputation with other agents is also huge!
- 27:08 – Cate: short term pain, long term gain. Cate tries to steal B’s thunder on that saying, but B wrote the script, is older and is feeling the short-term pain.
- 27:55 – Leading into THE quote of the episode: “Your reputation is the one thing you achieve through your actions. Good or bad, those actions set your reputation.” Client’s will send you business if your reputation is deserving of it.
- 28:30 – Love your clients, not your commission. Make choices that serves them. Look at the long-term perspective. Your recognition of the greater good of your client is most important and will set your reputation higher than 90% of the agents out there. The ripple effect is huge!
SHOW LINKS
BETWEEN THE LINES LINKS
Email
brian@brianclee.com
cate@craftsmanrg.com
Web
brianclee.com
catelee.com
realestatebetweenthelines.com
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https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?
