Tips on How to Become the Expert, Authority
Even Celebrity In Your Market!
ENTITLEMENT: A Killer!
“A woman (an adult) in Georgia became trapped inside a graveyard, while playing Pokémon Go. She called 9-1-1 and indignantly told the dispatcher that “they locked the f-ing gate with me in here and you’ve got to get me out.” Why? It reminds me of the people who climb mountains outside of Phoenix in 120-degree heat, without adequate water, have heat stroke and have to be rescued, or those who, in Phoenix and elsewhere, drive into obviously flooded washes, then sit on the roofs of their cars waiting to be rescued. Feeling entitled to rescue. Yes, we all pay taxes into a communal slush fund for public safety, but shouldn’t there be some personal responsibility for blatant stupidity?
We cannot afford to rescue everybody from every negligence or stupidity – from saving zero dollars for retirement to walking off a cliff pursuing a Pokémon character at the bottom to running up $80,000.00 in college debt while majoring in gender studies, and taking 6 years to obtain the 4-year degree to – include irresponsible rich dolts – building mansions on eroding mudslide hills by the beach or right smack in the middle of a hurricane alley. Those who feel entitled to rescue from self-inflicted disasters are going to have to be disappointed, more and more. We have gone from a rich nation to a broke, deeply indebted, beggar nation (in the span of my lifetime) largely by saying yes way too much to “you’ve got to come rescue me.” It will take somebody damn strong, with high immunity to criticism, to start saying, “Well, no we don’t.” Hint.” – Dan Kennedy
Wow! I enjoyed reading that. Dan holds nothing back. Reading this got me riled up at the agents who feel entitled to payment of commission, absent earning it, even entitled to client’s loyalty – just because they signed an agreement.
In business, the surest way to die is by the disease of entitlement. Consumers, the market, and money itself have no patience for it anymore. In case you haven’t noticed, most people are on edge. Wound tight. There’s a lot of tension in the air, and it’s not going anywhere. Buyers and Sellers are wary of incompetence and excuses, from real estate agents, and angry at being taken for granted, disrespected and abused.
You have probably heard my rants on ‘what would buyers say if they knew the truth about you…’ where you only send buyers homes from active MLS properties, and then steer them to those where you make an easy commission (absent of negotiation of your fee).
You are entitled to NOTHING. You get what you negotiate, and cost is only a factor in the absence of value!
Those agents who get mad at you when they get to closing to find out that you are getting 3.5% on the buyer deal you represent when they only offered 2.5% to co-brokers in MLS, to those that get to closing and find out that you are getting 4% on the listing sale (your seller) and they are getting 2% as the co-op. Why would they get mad? What did THEY negotiate? Correct – Nothing! Do not be like these agents.
POSITION yourself as different. Example: before the closing starts, tell all in attendance you have provided the buyer with a ‘Satisfaction Guarantee’ explain it and watch the other agent and their clients elevate you to a new high!
If you dare think that you will keep your customers or your business will continue because you’ve been “in real estate for 25 years,” because you deserve loyal patronage based on history, because you deliver as promised (but no more), or for any other entitlement rationale, you are going to be viciously punished by the market, and there’ll be no rescue. The facts are: shrinkage in literally hundreds of product, service and business categories, particularly in the housing market. A Darwinian thinning of the herd.
Now is the time to take it all up a few notches. Examine every touch point your customer has and figure out how to raise it from “OK” to “WOW.” Eliminate ordinary and be extraordinary or, probably, be gone.