When Does It Become A Success?

 

Earlier this week while speaking with a commercial real estate broker, he told me he had “a success” last week because he completed a sale. I did not intend for him to look stunned when I asked him what the “success” was. My guess is that he saw success as “finally” getting paid for all of his work and being able to take his commission check to the bank. 

To me, that response is what separates the caliber of a real estate broker. Getting through the closing with signed documents and a commission check should be treated like being paid midway through the project. There is still plenty of work to be done. Some brokers don’t realize the difference it makes to stick around and see it through.

If representing the seller, there will be a result of the sale to help with. The seller may be looking to acquire another property, moving out of what was just sold, and/or making some form of major adjustment. I use the analogy of instead of just taking them to the train station, get on with them to make sure they, at the very least, get to the right station. You just got their deal done and made money for them. Being with them “on the train” instead of dropping them off at the station keeps you with them longer at the time you are held in the highest esteem. Heading back to the office to make cold calls won’t put you in that same position.

Being on the buyer side should be even more reason to stay with your client upon the sale. Make certain the steps fall into place, even if it means personally following up with the movers, contractors, and so on. If something goes wrong after the purchase, the buyer is likely to associate you with the bad part of the deal, and you can’t afford for that to happen.

Part of my coaching and consulting with agents and brokers is about formulating strategies for specific situations. Let’s combine forces to make you “first in” on your next deal!