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WATCH WHOM YOU IDENTIFY AS YOUR CLIENT

Some Active Rain friends that you surely know, too, are good about sending referrals to me. And what makes it even more interesting is that they pick me, an independent, over someone within their franchise's referral network.

Of course I'm complimented. But I also know that their choice comes from their experience with others when contrasted to their experience with me.

They know I will always understand and respect that the client is not my client, but theirs. I'm merely a straw party who's taking their place since they are far away.
They know I am competent; that I've been in business for many years; and they know that my reputation as a Realtor is and always has been excellent.
They know I will keep them informed as to the progress, and ask them for their counsel when it will help me represent their client.
And finally, they know that the day the transaction closes, I will instruct the title company to send them their referral fee at the same time the title company disburses my check. None of this stuff of sending it to them when I get around to it,

What is often overlooked is simply understanding who's your client. The referral from you to me never becomes my client. He's your client from beginning to end. I'm filling in for you.

Here's another example: When I open escrow for my clients at a title company, oft times the escrow officer will begin calling the party their client. Nothing could be further from the truth. I'm the one that's the title company's client. Without me, it's reasonable to assume there might not have been a sale, much less that escrow would have been opened in that title company's office.

Last week, a well-known title office here in Dallas forgot who brought them to the dance. It was the second time they had done that. So I pulled my new files, and I won't be closing there anymore unless a client specifically requests it.

So what's my message? No matter where you and your services fit in a particular real estate transaction, it's important to know whose client you're serving, and to honor that relationship almost to a fault.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

SINCE 1964

214 503-8563

On the Web

Posted by BILL CHERRY on 10/30/2009 11:39 PM

Comments (9)

Referrals From AR in the Networking Channel

referrals, referral fees, clients, client referrals, title companies

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9 Comments on WATCH WHOM YOU IDENTIFY AS YOUR CLIENT

OCT

Bill, this is a good and practical message. It is good business basics and sounds like the title company needed a lesson.

Bill,

Its tough sometimes to keep all the players straight in a deal. Thanks for emphasizing the importance and significance.

OCT

Sharon and Mike

My written instructions to the title company, BOTH TIMES, were to wire my referral fee to my bank. They weren't interested in my instructions. What they did instead was to prepare checks payable to me and then send them by messenger to the selling agent along with her check, so she could get them to me when she got around to it.

I called both times to see why I hadn't been paid. And both times they made it clear that they saw no reason why it was important to follow my instructions.

At which time in a strident voice I explained to them what the term ESCROW means, and reminded them they collect EXTRA fees for providing that service over and above the title insurance premium. If they can't handle the task, they need to have their license removed.

So that also brings up a question: Who's to say they disburse the other funds correctly to those who have claims, i.e., insurance premiums, home warranty premium, etc.?

Bill, we are taught in Florida that a "Client" is a customer with whom we have a contractual relationship, Like "Exclusive Buyer's Agent". All non-exclusives (most of the relationships) are referred to as "Customers". We are not to use the "Client" designation for anything but the Exclusives! Many R/E licensees still use the terms as they see fit, though.

Good advice, and definitely something to remember. Thanks for putting it into a post.

Bill....if I had someone looking out your way I wouldn't hesitate to send them your way....and would be confident of the treatment they would get.

Not only would they have excellant representation...they'd have their own local expert on all things community!

NOV

You said "

What is often overlooked is simply understanding who's your client. The referral from you to me never becomes my client. He's your client from beginning to end. I'm filling in for you."

Boy is that true!

NOV

It just sounds like they were lacking in how to do a simple job the right way.

NOV

Gene, Perrin, Miss Joanie, Rich and James --

Thanks for adding your thoughts. I just had a loan officer tell me I didn't need to go to a closing for which he negotiated the loan. After I ripped his gullet out (verbally), I think he joined the church.

I'm telling you, I'm not going to stand for this stuff.

Bill

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