Listening to Barbara Corcoran (you know – Shark Tank) speak at a conference recently, I was struck by one of her key strategies – “Shoot the Dogs Early”. While she was referring to evaluating your sales staff and letting low performers go, it occurred to me that many of my realtor partners should take heed of this strategy and “fire” their Dog clients early.
It’s easy to say “You’re Fired” – but it’s not that easy when your commission is on the line.
However, there are times that no amount of commission is worth the hassle of putting up with an uncooperative client.
Additionally, the longer it takes to make the decision to “let them go,” the more difficult it will be.
I’d like to share with you some of the reasons you might consider firing a client…
- They take up an excessive amount of your time by calling you every hour to find out why their home has not sold yet. It’s time that you could be spending on prospecting for business. Time is money.
- They make unreasonable demands – outside the realm of how a real estate transaction works.
- They are rude/swear at you – Totally uncalled for!
- They won’t make a decision – Goes back to taking up your time by procrastinating.
- They want you to slash your commission – And that’s just the beginning of what they will try to negotiate when an offer has been accepted.
- They will not cooperate – The buyers don’t provide the documents the lenders require for loan approval. The seller is not giving you the paperwork needed to clear the tax lien against the property.
- They lie – You’ve already caught them in a few lies. How will you ever know when they are really telling the truth?
It’s important for all parties involved in the transaction to respect one another. It’s not okay to be demanding and rude. Only you can determine how much abuse you are willing to take.
Would you share with me your story about the time you fired a client?