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Customer Loyalty...a thing of the past or still going strong?

By
Mortgage and Lending with Wells Fargo Home Mortgage

Okay, I am really going to try not to be pessimistic in this post, even if I may be feeling that way. I really do live by the basic principle that what you put out, you get back. Put out kindness, decency, fairness, etc., and that is what will be returned to you. Sort of like the Law of Attraction, right? So, if I treat potential or existing customers with those qualities, plus excellent service, communication, ethics and kick-ass rates, they will not only flock to me, but send all the referrals they can.

 That is how I have always tried to work and often it has come back to me, just as I said above. However, I've noticed a feeling lately of being "kicked when I'm down," so to speak. Basically, treating clients like gold and still not earning their loyalty. Maybe I'm missing something, but it really seems like a no-brainer that when you put out that kind of effort, people will not only notice it; they will truly appreciate it, as well.

 So, here's my question: in this day and age of the internet, non-stop marketing, etc., does true customer loyalty on a broad scale still exist like it used to? Of course, I have many clients who have referred tons of people to me and who I know will always call me when they need a loan. I am truly their lender for life and they are comfortable with that. But, I also have clients who I have provided with the exact same level of service that still don't really seem to care where their business goes. It's not even a question of pricing or programs; I'm offering the same or even better. It's more of a lack of understanding that if you work with someone who takes care of you and that you trust, you'll be much better off. We as mortgage brokers (or Realtors) are not just interchangeable machines that will do the exact same thing for you. We are people who make decisions every day about how to create our business and what sort of principles we stand on.

For me, personally, when I find someone who cuts my hair really well and charges a decent price, I not only continue to give them my business, I refer everyone who comments on my haircut. Or, my CPA; she does a great job, I like her and I've been satisfied with her work. So, I continue to come back to her each year and I continue to send her referrals when possible.

Have the times changed so much that we don't, in general, care as much about maintaining these relationships built on trust and a job well done? I'd love to hear your thoughts, stories, etc. on the subject.

Have a wonderful weekend!!

Comments (3)

Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro
Hi Julia:  I can relate!!  I have clients that are TOTALLY loyal but I could also tell you horror stories of getting stabbed in the back.  The longer I am in real estate I have come to the conclusion that it is the nature of the beast.  My worst horror stories have been from what I thought were good clients.  I think part of it is the society we live in where it is all about ME.  I've tried to learn not to take it personally but it sure is hard.
Feb 23, 2007 01:43 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Julia, I think we all have both loyal clients and clients who are in a world of their own.  The Real Estate and Mortgage Industries do seem to be different then many other Industries because of the length of time between the time someone buys a house and the next one that they buy.  We don't have the same amount of contact with most of our clients as a hairdresser has with their's.  It would be nice if it was the same, but I don't find it to be.

Feb 23, 2007 02:49 PM
Lewis Poretz
Apex Home Loans - Annapolis, MD
Business Development Manager
Customer loyalty has left the building! --- LP
Mar 10, 2007 03:09 PM