We can choose who we work with and spend time with. So choose wisely.
Your time is extremely valuable. The reason why is because it's limited. We only have 24 hours in a day. So who we choose to work with, and who we spend our precious time with, matters a great deal. As real estate professionals, we can choose who we work with and associate with. The best client is often the one you never work with or fire.
The first years in business I had to work hard to become who I am today. I was not charismatic, confident, or someone who knew everyone. I wasn't one of those people who naturally had a ton of credibility with their contacts. Some people are; I wasn't. I had to work hard at developing my connections. Because of that, I felt I had to work with everyone. I could not turn down business, because as I though then, I could not afford to!
My mentor told me early on, sometimes the best client is the one you never work with. Nightmare clients take your time, drain your happiness and create turmoil in your business (and life!). You have to learn to gain the right perspective to say no to these clients or refer them to another agent better fitted for them. When we allow ourselves to work with nightmare clients we are actually leaving no room for the right clients to come into our lives. When we leave space for the perfect client we have the potential to develop clients for life and good friends. The time you save yourself from a nightmare client allows you to focus on real estate marketing or things in your business you think you don't have time for.
Listen to your gut when you start working with your client. If your gut is telling you something is not going to work out, listen to it. If you are wondering how to say no, it is simple. All you have to do is explain you are not the right agent because of x,y,z. Then offer to find them an agent who better fits the client's needs. If they are reasonable people, they will actually respect you for telling them that you are not the best fit and putting their needs before your own paycheck. You might even get a good review!
This is a business. You are running a potential multi-million dollar business. You are the entrepreneur, the self-employed business owner of your own real estate company. You have to think of this as a business and start making business decisions, as if it were already a multi-million dollar real estate business. Turning down a potential nightmare client is part of a smart business.
Lifetime Value vs One-time Transaction
Think of a client as having lifetime value… not as just a one-time transaction. If you don't stay in touch they are not going to refer you or remember you when they need to buy or sell again in the future. Approach every single client like you're goal is to build a lifetime relationship. You want to be their Realtor for life. Each client could potentially be worth $100,000 in lifetime value. Kick clients to the curb who are not working out because they won't let you do your job, or they flat out won't cooperate. These clients aren't worth $100,000. So if you spend yout time and energy on them, you're not able to find another $100,000 client. By saying Yes to someone, you're saying No to another, because there is only so much time in a day. Do the right things with the right people and you will be successful.
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