Friday, 25 May 2012

Satisfied Clients Equals No Referrals

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Industry Specific - Real Estate
Written by Tom Ninness   

Jeffrey Gitomer’s book “Satisfied Clients are Worthless” should be at the top of your reading list if you are truly interested in creating loyalty rather than just satisfied clients. Creating loyal clients for life will mean the difference between a continual stream of referrals and return business rather than those that leave satisfied but with no inspiration to return.  Completing the most perfect sales transaction, with everything going right, and the client’s heartfelt thanks, means nothing if you cannot capture their return business and referrals.

Tupper Brigg’s, one of the most dynamic Realtors® in the country, has had up to 73% of the listings in the town of Evergreen, Colorado at any given time.  So, how does Tupper attract referrals? Tupper knows an interesting fact: 80% of his competition does not stay in touch with their past clients. Here is what Tupper does after a closing. 

1. A few days after closing when Tupper know that your clients have moved into the neighborhood, his wife delivers to their home a wonderful basket of baked goods and welcomes them to their new home.
2. A week later, Tupper will be calling your client’s and re-introduces himself to them as the listing agent.  He’ll ask questions on how the move went, have they had a chance to meet the neighbors, etc.  Tupper then asks,   “Is there anything wrong with the home, or is something not working that you thought was during the inspection?”  Tupper will get something out of the client that could be as small as a sprinkler head to a major repair.  Tupper’s response is, “Your problem is now my problem.  I’ll have my handy man contact you to get it fixed at my expense.”  Tupper has just moved to the top of the list as the most responsive Realtor® of the listing/selling team.
3. Tupper now puts your client on his mailing list, calls them and checks up on them about four times a year, and invites them to his summer picnic and holiday party.  When the client has a friend who is ready to sell or is ready to sell himself, guess who’s going to get the listing?

This philosophy of service selling used to be coined “value added”.  It goes further, however, as it allows the sales professional to become a vital part of any person’s day to day team. You want to be counted as important as the attorney, CPA, financial advisor, banker, appliance service repair, plumber, mortgage banker and Realtor®!

The majority of mortgage bankers or mortgage brokers fund the initial loan but rarely do they service the loan.  Every month, the service company tries to entice your clients to refinance, take out a HELOC, possible apply for a credit card.  They have lots of simple and easy solutions, but not necessarily are concerned with the client’s best interests.  Every month they have the opportunity to touch the client and remind them they are conveniently available.

How can you be assured that your client will come back, or at least give you a chance to do business with them again? 

The first loan transaction is the most important.  The old saying goes: “You only have one chance to make a first and lasting impression”.  Whatever your idea of superior service is, it must be delivered with consistency so that the client feels secure in referring their friends, family and co-workers.  Satisfy the client, then “WOW” them!

The client’s first experience should not only be satisfying but “WOWing”.  By offering special features to ease their move helps solidify the relationship.  Sending special “Congratulations” and “Thank Yous” during the loan process are encouraging and thoughtful.  For about $7.50, offer the client Tag-A-Room stickers once their contract is approved.  It’s a surprise that they weren’t expecting.  The stickers help the client ID each of the moving boxes.  Go to www.tagaroom.com and check out the site.

Follow your client’s progress by forming a net after closing.  Utilize a system of follow-ups ensuring a “WOW” experience. 
1. Send a small gift to the client with a short thank you note. Something useful but not common, such as a letter opener, tape measure or candle.
2. Follow with a phone call inquiring on how their move went.  Ask if there is any contact information that has changed because of the move.
3. Politely ask if the client was happy with all aspects of the closing.  Inquire if they would consider using your service again in the future or be willing to suggest your services to their friends and family.
4. If they are hesitant about a commitment, explain how you will be staying in touch with them through mail/email, and phone calls.  Let them know about other events you sponsor such as picnics, real estate investment classes and seminars.  They will be inundated with offers from their final servicing company and you hope they will contact you first for any additional needs they may have.

What if they say No or maybe?  Never argue with the client or try to justify why things didn’t go well.  If something didn’t go right in their mind, you aren’t going to change it. Instead send a letter of apology and a gift certificate for around $50.00 and ask them to accept this with your apologies.  80 % of “Just Satisfied or Dissatisfied Clients” will respond positively and allow you to stay in touch with them— and some of them will become your best referral partners.

Creating loyal clients is a must for repeat and referral business.  They will keep coming back, refer their sphere, and bring stability into your business even when the market slows down.  Stay in touch with your past clients or your competitor will take over your turf.  Loyal clients already know and trust you.  They will not be easily swayed to go with someone else.  Loyal clients will become friendships because you have stayed in touch with them.  Loyal clients are created over time not just from one satisfying experience.
Tom Ninness -

Tom Ninness is Vice President / Regional Production Manager for Cherry Creek Mortgage in Denver, CO.  He is also the President of Summit Champions, Inc. and creator of the “The 90 Day Journey to Your Sales Success”, a powerful 90 day action plan for the sales professional.  To learn more about The Journey and all what Summit Champions has to offer, go to www.90dayjourney.com , www.summitchampions.com or contact Tom at This e-mail address is being protected from spambots. You need JavaScript enabled to view it Office: 303-840-0753.

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