When do you end a relationship with a client
When is the right time to end a relationship with a client and make sure that you move on from them? So there are times when it is a good idea, but we’re going to kind of discuss the pros and the cons of it of when to throw in the towel. We’re going to talk about how many more deals would you close if you didn’t do that? Because I think that’s really an important thing to kind of understand. And when is it the right time, maybe to refer it to somebody else in the office, right?
Instead, because maybe it’s just a personality thing and we need to get to what is the real issue or ask for assistance. You can also ask someone to come in and kind of help you. If you if you have someone that’s super time consuming and needs a little extra hand-holding and care, you don’t want to terminate the relationship with them because of it. You want to help them.
So sometimes you need to ask for more help and we’re all willing. That’s what I love about us. We’re all willing to help one another, and we have some systems in place to be able to do so.
So don’t just throw in the towel. You know, I look at it as if someone is asking you to do something that is questionable or unethical or illegal. Obviously, that’s that’s easy. You you’re not going to do that.
Well, they might not know that that’s actually the case, right? So you. Sure.
But if it continues, then I think that’s a time, you know, I think several of you.
I mean, if you’re unsafe, if they’re, you know, there’s illegal things. If the person simply can’t buy a home because they won’t qualify, they don’t have the funds or anything like that, then those are really great times to do it.
But you know, if you do your following your process and prequalify them and do the proper steps, then that shouldn’t.
Yeah, they don’t even become a good client.
No. Then you, you put them on a different path. Stay in touch with them until they can be on the road to home ownership.
But you know, what I’ve seen is that over time, so this is kind of my stance on it is you always want to move on to the next client because it always seems like the grass is greener on the other side. And I’ve invested all this time and then like, I whatever, right?
You can feel all these things deep down about it. But over time, I’m on the other side and I hear when the agents are calling Shana or calling Stacy. And I understand that, you know, when they they’re battling through these things and are like, should I?
And what I kind of looked at is I looked at people’s numbers last year and how they did for the year. And then I look back and I’m like, Well, that agent, you know, would have wanted to and had discussions about throwing in the towel or moving on from clients this many times. Right?
That I’m too busy to take one more or I can’t whatever those things are. And then all of a sudden, what happens is you look at the numbers and it’s like, Well, you want to throw in the towel on this person, on this person and on this person. And they weren’t easy and they get that.
You didn’t want to take one more here, but you did and you worked it in, and it really would have been easy to go on vacation and not do this extra one. And then all of a sudden you add it up and it’s like, Whoa, that was five or six extra transactions, and it was potentially 20 percent of your income or 30 percent of your income.
It just really depends on what it is and like ends up that, Oh, I got I did get a referral from this person, and all of a sudden you’re like, Whoa, that’s a big number.
Just because someone needs the extra time doesn’t mean that you want to give them less of your expertise. I guess if that if that makes sense. So that’s where I was saying, maybe you need to bring somebody else in to kind of help them. Maybe they are, you know, I don’t want to use the word needy, but you know, I don’t know of another term. I can’t think of another term.
But if they are needy, then maybe you need to bring somebody in to help them, right? But you know, it’s easy to just say, I’m not dealing with them and maybe you want to do that. Sometimes I know there’s been several instances where I’ve received a phone call of, You know what? I’m done.
I can no longer deal with this person. They’re unreasonable, blah blah blah. And you know, I am quitting is the last lowest option for me. You know, I kind of turn it as a it’s a challenge and we, you know, what do we have to do to get through it? Because if you’ve already invested so much time and it goes away, then you know,
And often I think that if you have that problem, what you really need to do is reflect upon yourself and see what is your process. And did you answer that upfront? Were you not firm up front? Did you not sit down and have a great discussion about all those things, right, and analyze what you did to get to this situation? Yeah.
Why are they not believing in you? Why are they questioning your stuff? Did you not give them the right things or are they not winning in these contracts because they don’t have a great land?
There’s a lot of factors here to me that would cause a person to pause like this person over here had seventy five showings. I’ve had two. What’s the problem? Right? So just really understanding what the obstacles are and how they’re feeling so you can talk through the things and and prove to them, right, you have to show them facts. I’m a big show the facts person and show statistics and show them things that you know, it’s not just your word. Hey, here’s what really happened here.
Here’s what’s really going on here. Just because your neighbor said he sold for two hundred over. No, he didn’t. It is know and whatever it is. So, you know, don’t just, you know, ask for help, ask for. We have a lot of us that can help. And I think that the power of all of us can help you get through some of those struggling times.
Yeah, and often it comes down to really simple things in those situations, like do you have a signed by representation agreement? And during that time, did you spend the time to go over each one of the facts in it so they understand? Are they trying to buy a home at a price point that there’s going to be a lot of competition like we just spoke about?
There’s some price points that are very competitive. And did you compensate with that buyer for all those things to be able to accomplish? Or are you just setting yourself up for failure in the client for failure because it doesn’t work? Should they explore a different area where they’ll have more success and understand the potential upside long term of that and get them an electric vehicle because so be just driving more miles?
Yeah. And Rachel Chatswin that sometimes people are just unrealistic, right? And you know, I think about us and, you know, same with Rachel. We’ve done this for a very long time. And I think about maybe, you know, a handful of times we’ve terminated a relationship with a client.
So but I would say we would be here for you at all times, right, if you have those issues. So if you want to set up meetings with, you know, I can speak for myself that I’m willing to sit there and have a meeting with you and or your client face to face or over Zoom or whatever we happen to have so we can help because often just a different voice helps. Right?
It’s weird that sometimes I’ll have somebody that I’m dealing with it and they just need to hear your voice, or they just need to hear a female perspective. Sometimes people need their certain ethnic groups that deal better with certain personalities.
So maybe that personality type, so it’s good to be able to identify that who they are and what their needs are going to be up front, you know, and the more you know up front, the more you can say, you know what? I think this person, I think I have another person in our office that would be better to to help you. And this is why you know you don’t want them
To feel so in your career. You’ve closed a lot of transactions and you said it’s happened several times that it was the right thing to do to get rid of a client. But I would say that of the times that you think you should do it, you probably do it one on twenty five, you know, something like that. Yeah, I do hear a lot from you. My life will be so much better when and then all of a sudden it’s like this client closes because right? And it often is true. So but you often don’t release.
So you guys, I want you to think about the worst client that you’ve had. Like what was the worst experience where you were? Like, I might change my career. I’m going to fire this client when you’ve had those thoughts and you know, as time passes, it kind of gets it fades a little bit right.
I mean, I do remember that’s interesting some of the people that we’ve had to have these conversations with. And, you know, I’m glad that we did, and it got to a point where we we had to. But you know, it really wasn’t that bad. Well, that concludes us for today.