Tuesday, September 29, 2009

Now Serving Number 42. why a waiting list might work…

I’ve thought about this a lot over the years, but I’ve never had the (insert your own term here) to implement it officially…

What would happen if a Realtor capped his number of active clients, and asked any additional clients to wait until he had enough capacity to service them properly?

Common sense (and personal experience) tells me that whenever I give my clients Best Customer Service, I end up with life-long clients who become friends, who also tell everyone they know about how great I am.  Isn’t this critically important for our business?

I also know that whenever I get overbooked, my service level falls, and I become Good (instead of Great…)   Good is enough to close a transaction successfully, and to have clients think you know what you’re doing.  But Good is NOT enough to have clients rave about you.

How’s this for a thought:  What would happen if you had 50 former clients who RAVED about you?  What if each of those clients referred somebody to you at the snail’s pace rate of 1 friend every 2 years?  That’s 25 referrals PER YEAR!!  So I ask again, isn’t this critically important for our business?

Our time gets divided between Clients In Escrow, Active Listings, Clients who are Actively Looking at homes, and longer-term Prospects who might buy or sell in the future.  What would happen if we put a cap on the number of current clients we’re willing to work with at any given time?

If a Prospect decides they’re ready to get serious, and we’re at full capacity, could we say:

“We offer the best service available in the industry, but that takes time, and we currently don’t have time to take on any new clients.  If you can wait until we have a spot open, we’d love to offer you this same level of service.  Otherwise we’d be happy to refer to you one of our colleagues who can help you achieve your goals.”

Heather & I are talking about implementing this as a part of our business, by design.

Thoughts, ideas, suggestions..?  We’d love to hear your opinions!

Your striving for improvement Realtor,

Chris Butterworth