March 11, 2008
Dear Realtor,
When I was growing up as a small boy in Connecticut, I often heard commercials from a local jeweler named William M. Savitt. Mr. Savitt had come to Connecticut and opened his business in 1919. He was just one of seven children of Russian-Jewish immigrant parents and he dropped out of school at age 14.
Back in the 1970's and 80's as I was growing up, it was not his jewelry business that caught my attention. It was the snazzy uniforms that he bought us to wear for our little league team. I did not know who he was but on my back I wore a simple slogan that became folklore back in Hartford, Ct.
P.O.M.G. Peace of Mind Guaranteed. That was it. A 4 letter acronym followed by a four word slogan. For decades he built his brand identity on a very simple catch phrase. And what a business this former dropout built.
Never doing business like most jewelers did then and as fewer do now, Mr. Savitt built his business by guaranteeing his clientele a lifetime guarantee. Customers were guaranteed complete peace of mind if you decided to do business with Savitt Jewelers.
Standing behind his famous guarantee, he actually walked the walk and talked the talk to the tune of over $10 Million dollars per year in annual sales. Savitt knew that in a business based upon service, that his consumers had choices.
If they were not satisfied with his business there were many other jewelers available that would gladly take the business. So he knew he had to go above and beyond his product and be the man behind the business. It worked for generations that followed, and will for generations to follow, as the Savitt name lives on in the jewelry business nearly 90 years later.
That famous guarantee, dreamed and implemented by a high school dropout of immeasurable success lives on.
Savitt's legacy is brought to memory as I recently read a couple of articles by some notable real estate agents. One agent who is now a broker and recently opened his own brokerage, instituted a new policy on all of his listings that may make him unpopular with others in the industry.
Another also implemented a radical change to his business mirroring the former broker mentioned. 
The radical change, implementing a totally cancellable listing agreement with no questions asked. In my mind these two brokers exemplify the same attitude that I remember from Mr. Savitt. The customer is king. The customer is always right, and the customer DESERVES premium service and quality service.
Like Savitt, these men are standing behind their business and I applaud them. They are tired of being associated with an industry known for lackluster service. They realize that all the technology in the world, all of the branding promotions, all of it means nothing if you are not prepared to show the consumer that you are a different breed of real estate agent.
That new breed being that agent who is bold enough and confident enough in their abilities to guarantee their clients service nonpareil.
So, my question, in this open letter, is to the rest of the country's real estate agents. Are you prepared and willing to stand behind your abilities? Are you willing to excel in your field and challenge the consumer to find a better agent than you? Are you willing to allow your client to fire you with no questions asked if you do not deliver?
Are you prepared to offer your clients the feeling that Mr. Savitt afforded generations of his clients? Are you prepared to offer complete P.O.M.G.? Peace Of Mind Guaranteed. I think the American consumer deserves this from all Realtors and should demand it. In fact I encourage all consumers not to settle for anything less.
It's time to see this business change and if it is by just one broker at a time, then at least it's a start.
Imagine the revolution!
- Top 10 Reasons You Need A Traditional Real Estate Agent
- Get Cash Back At Closing...Legally!
- Single Women Emerge As A Driving Force In Real Estate
- What Do You Do When You Have Nothing To Lose?
- The Five Competitive Forces That Shape Strategy
REAL ESTATE RADIO USA : Your source for real estate news and free real estate training, strategies, tips and real estate market analysis.
REAL ESTATE RADIO USA is a multi-faceted real estate media company. We have the #1 real estate talk radio show, a power packed and highly visited real estate blog. We want to educate you, inform you and entertain you about how to use your blog successfully and profit in the real estate market.So we invite you to listen to our provocative and opinionated real estate radio show and read our real estate blog. It is free to listen to Real Estate Radio USA and our real estate blog is free as well.
LISTEN LIVE WEEKDAYS 4:00PM-6:00PM If you have a question or comment call us at 1-877-741-3863 and we'll talk to you live on the air! Can't make it at 4PM, listen to our archives of past Real Estate Radio USA shows.
Comments(6)