Podcast : Charlie Butler in Letting Go to Move Forward
I was watching a movie a while back, which is not related to real estate, and there was a specific line that stuck to my head for quite a while. Then when I had an interview with one of the most talented people I have had the pleasure to meet, this line popped right back into my head. “Cost and Worth are totally different things.” During the interview, we were talking about letting go of clients in low places to be able to work with clients in high places. Some people would react negatively about this especially when they have built relationships with their clients in low places. Others would think this is a more practical move. If you weigh your pros and cons without bias, what would you think?
Charlie Butler is a returning guest on my show and we talked about prioritizing. There are people who would disagree with letting go of clients in low places. There are people who would agree. Ultimately, as a realtor, you are the one who’s going to make a decision for yourself.
Here comes a client who purchased a house for his family. You built a relationship with the client and he referred you to his friends and relatives. You built your network. However, in real estate, one has always been driven by numbers and commissions. You then aim for something much bigger – something more. So you venture into a more profitable network – Commercial Real Estate. You get big commissions and get to know the big players in the industry. You get to know more people and your network expands. The question is, when the time comes to choose a market, which one will it be?
Before you choose, here are some guidelines. Always know the market and what its status is. There may be a lot of opportunities in Commercial Real Estate but there might be more in Residential. The market isn’t going to be the same all the time. A good realtor will choose to always be informed. An excellent one will choose to be on top of things and adjust his sails. People may get conflicted and others may think that the choice is obvious. However, in real estate, what most people fail to realize is that they don’t need to stick to just one market. They don’t need to let go of their clients in low places just to deal with clients in high places. An excellent realtor will be able to handle both. It’s just a matter of prioritizing. However, when made to choose, some realtor, who have been so comfortable dealing with their clients in high places, may opt to just stay there where comfort zone and commissions go hand in hand.
Is it worth losing real estate clients in low places to get to deal more with those in high places? To some, it is. To others, it is not worth losing the relationships they have built and will build. What matters to some may not matter to all. Some realtors find value in being able to help families find perfect houses that they can turn into homes. Others find more value in being able to get more income to provide for their families. Whatever the reason, the choice is yours. It has always been. Charlie Butler, during our interview gave us options but the most important tip that he gave us is to always know the market. What is the market like today? Keep in mind that with the rise of online marketing and easier to post online advertisements and listings, realtors both veterans and newbies will need to adjust. Information has become an easy-to-access spice and you’re not the only one who has access to it.
The market, when it comes to real estate, changes and you should adapt. If you had a choice to let go of clients to make more clients, ask yourself, “why”, because why you do the things that you do will always matter. For those who choose to let go, that’s a brave decision. Letting go isn’t always going to be easy. It is challenging and to some point, difficult. You will venture into a new world. One thing you are assured of though, is that you will grow. Growing always takes places outside the comfort zone. On the other hand, if you choose to stick with your clients in low places, I also salute you. It is honorable to stick with the people you have built relationships with. In both situations, your network will surely expand. Your success though, will depend on how smart you work. So, if made to choose, choose wisely and consider your options. Cost and worth, as it said in the movie, are two very different things. Will it be wise to be able to get new high end clientele the cost of which will need to be your low end clients? Remember, it will always depend on your priority. Do what you think is best for you and always go the extra mile. Don’t worry. There are no traffic jams when you go the extra mile because people seldom go there.
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http://hibandigital.com/charliebutler3/
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