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How Often Do You Say No To Prospects? When Does It Make Cents To Do so?

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Services for Real Estate Pros with Real Skillz-Clear Marketing for Your Real Estate Vision

 

How Often Do You Say No To Prospects? When Does It Make Cents To Do So?

 

How often do you say no to prospective clients? 

I mean it...a prospect emails or calls you and is looking to do, say, a short sale.  Now maybe you have shunned away from short sales in the past, but today, in reflection of your bills and lack of immediate future business in the pipeline you decide maybe you can just do a few short sales, just to tide you over.

AND in this scenario you would have absolutely NO experience in short sales, no knowlege whatsoever.  Would you take the deal to pay your bills and learn how to do a short sale on the fly?

OR Scenario Two

An army family is relocating to your area for 1-2 years tops before moving again and are considering purchasing.  Average dom on market in your area, currently, is 9 plus months, and there hasn't been any significant appreciation for over 1 1/2 years. 

Will you weigh their options carefully or will you pass GO and start collecting houses of interest for them?

 

Why do I ask?

Often, frankly, I am disappointed in the very system with which we work to make life "meaningful" and better for consumers.  Being truly independent and not tied like a ship with an anchor to any vessel for the first time in seventeen years of working to serve real estate industry professionals I am enjoying a lighter load.

I have said no at least 7 times that I can rememberoffhand to prospective customers since last November and I am wearing that "no" as a badge on my sometimes tattered suit of business.  That "no" doesn't pay my bills, that "no" doesn't buy my kids Ambercrombie and Fitch, that "no" makes me far from wealthy or rich.

But if I can't do this MY way than I have to chose another highway.

See the thing is, just like the real estate industry, vendors, coaches, specialists, go through the same trials and tribulations as real estate professionals to some extent.  Albeit we don't have a "code of ethics" set by a National Association that we have to subscribe to, I like to think  that all salespeople have a code that they chose to wear or not and that code is integrity.

  • If you offer services you should be able to deliver.
  • If you extol expertise you should have it. 
  • If your customer doesn't need what you offer don't sell it.
  • If your customer isn't ready for what you offer point your customer in the right direction.
  • If your customer needs a true expert to help them and you are not refer your customer to an expert.

But, human nature and ego being what it is, most people tend to sell the sale on a wing and prayer.  "Buyer beware" is how that's justified.  Paperwork- disclosures, agreements, contracts- all CYA. 

Let's talk about integrity all day long with more "complex" issues, albeit important ones, like MLS data, copyright infringement, code of ethics.

As marketers, as sales people, as professionals- what about the more "simplistic" issue of helping buyer A get what they need/want...not what we need/want?

  • What about our own gut check code of ethics?
  • What if we could just say "No"?
  • When is the last time that you said no?

Too many times in the past I was looking for the "yes".  Now it's pretty black and white for me.  I don't need to read between any lines.  It's either Yes or No.

It's pretty damn simple.

How often do you say no to prospects? When does it make cents to do so?

 

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Sharon Paxson
Sharon Paxson, Realtor® EQTY Forbes Global Properties - Newport Beach, CA
Newport Beach Real Estate

I have declined business before, because sometimes it does not make cents . . . great topic.

May 23, 2009 05:37 AM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

There is a Naval officer who was going to buy a home, but since she's only going to be here for 2 years, has elected to rent. I did not turn her away but offered to help her. It's not always about the $$ but building good will and that pays off in many ways.

Sharon

May 23, 2009 06:29 AM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

There is a Naval officer who was going to buy a home, but since she's only going to be here for 2 years, has elected to rent. I did not turn her away but offered to help her. It's not always about the $$ but building good will and that pays off in many ways.

Sharon

May 23, 2009 06:30 AM
Tchaka Owen
Galleria International Realty - Hollywood, FL

Great post, Rebecca!  I just had this conversation yesterday in which two of my co-workers were not saying 'no', but should.  I sometimes feel that since the economy has hit South Florida harder than in most other areas, agents are more concerned about losing business than they are thinking of the opportunity costs.  I admit, I'm a little guilty there as well.

 

May 23, 2009 10:27 AM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Thank you all for your candid responses and I have unplugged a bit for the Memorial Day Weekend so I will jump back in and respond individually, but wanted to thank you all for your candor on this topic.

I know that personally the times when I should have said no but said yes instead I was especially sorry, times I said no and knew I needed to say no I felt really good about my decisions.

So finding my compass to point myself into the right no's and the right yes's for me and my business was especially important from the get go.  From real estate professionals to the professionals that serve the industry we are faced with these yes and no choices daily. 

The reason I feel it is so important is because of the repercussions- the impact the yes/no decisions have on people's lives and I am not comfortable with the old standby of buyer beware.  If you lead a client to the water, you should make sure it's the right water for them to drink.

May 23, 2009 01:08 PM
Elizabeth Cooper-Golden
Huntsville Alabama Real Estate, (@ Homes Realty Group) - Huntsville, AL
Huntsville AL MLS

Rebecca,  I am proud of myself for saying no quite a bit this year.  I have said NO to several listings, because the sellers were far too off my mark.  Last week, I told a prospective buyer no.  They MAY buy in a year or 2, but in the mean time want to come up for a WEEK, and see half of Alabama.  She was rude more than once.  I don't need that.  I referred her, with a full disclosure to the agent, that this person has a less than shining personality and may never buy.  They took it, lol.  No thank you! 

Life is too short.  We do have choices, just as the buyers and sellers do!

 

May 23, 2009 01:38 PM
Valerie Spaulding
Windermere Peninsula Properties~Allyn~Belfair~WA - Belfair, WA
Allyn-Belfair-Hood Canal-Local Expertise!

I say "no" when I honestly can't meet their needs and wants. I am in business to be successful - and if it is something that I am not going to be able to give it my all, then I walk away. It takes a long time I think to be able to say "NO!" but I also explain to them why I am saying "NO."  If I don't feel I can do the best dam job for my client - I walk. I am out there to give the best I can. I am not going to be able to please 100% of the people all the time and it can be a hard fact to bite because we are human and no one likes the "negative" or rejection. Believe in what you do and do the best you can do-standing up for yourself as well. Everyone wins in the end. I see it all the time with agents who will do things because they want to please EVERYONE- well I think it's impossible to please everyone and it's a matter of choosing what is going to work for all parties - even if it means saying "No I am sorry I am not going to be able to help you..."

May 25, 2009 05:05 AM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Teram Honeycutt- Many of my no's were referrals.

Jason- Too true.

Jason C.- Thanks for answering.

Sea to Sky- It is hard in a service industry sometimes to not wax and wane with human emotions, but we must stay the course and make those business decisions for the best outcome of everyone involved.

Christianne- Good for you.  That doesn't seem to make sense.

Irene- Thank you and agreed, some no business isn't good business to refer.

May 26, 2009 02:18 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

William- Those are the kinds of no's that save sellers money in the end.

Xinh- Yes, my sister is a first time buyer in the market right now and until she got in touch with the right lender and the right real estate agent it was quite messy.

Steve- "maybes too much work with no resolution guaranteed- Amen.

Kevin- Best that be on someone else's plate than yours.

Bridget- Sometimes it is hard, but gets easier with time.

Donna- Defining your market with Yes's and No's is a great way to work with the right clients and be less stressed.

May 26, 2009 02:22 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Kate- Saying no is about self worth- you are right.

Kwesi- There is more behind a "no" absolutely.  My no's involve an explanation.  The no's I have had most recently have been because the client would be better doing their step 1 work first.  I know some are amazed that I wouldn't just get their business....it's not easy in any industry including marketing these days...sure I like to eat well, but not at the expense of others:-)

Tim- GOOOOD for you.  I am sure that must have been hard.

May 26, 2009 02:26 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Peter- I like how they have a checklist and good point you make about true short sales clients vs. another way out short sales clients.

Kerry- Some things you do truly  just learn on the job, but some you just shouldn't because it would be at the expense of others.

Candice- I don't refer business to ppl. who just kiss up either.  I like what the teacher said.  Good words to stick by.

May 26, 2009 02:30 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Gregory- Depending on why you say no and what you do after, you can bring business in, usually better business, by saying no.  Not immediately, but in time.

Lana- Good for you.  That kind of situation can be mind numbing.

Tom- I don't know that I learned to say no early, but I do say it now:-)

An- No easy about it:-) 

EXIT Hill- Very true.

May 26, 2009 02:34 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Virginia- Yikes.  I think these times are now the times for us to put the lessons of the past into action.  Before many said yes often because it was possible, even though it might not have been "right" or the "best thing" now is the other fight.  Saying yes because of being afraid there won't be something around the corner to cover us is know the enemy.

May 26, 2009 02:36 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

BB- Well fishing can be a better option, no?:-)

Chuck- We all have a business that we have to pay attention to.  My thing is I am not a catch all- I am not a webmaster, an SEO expert, a life coach.  I am a marketing consultant and as such I will not lead someone to step C if they haven't finished Step A.

Prime example.  I have had clients come to me for my blog tune up program, but they don't have a website yet.  So if they don't have an internet store, a hub, than there is no point in setting them up on blogging.  And often they really need to understand why they need an internet store, so that is a big conversation.

May 26, 2009 02:43 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Kim- Thank you for answering the questions.  I am liking seeing these answers also.

Bob and Carolin- Absolutely right on.  Imagine had there been more of these 5-7 even 10-12 years ago.  These no's.

Linda- Bet your shoulders felt a little better for the wear.

Heather- Good on you.  And yes it's not always easy to walk away from a sale.  It just is.

May 26, 2009 02:46 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Marchel- Absolutely right.

Mark- Saying no can be liberating and can earn the respect of future clients also.

Pat- I am GLAD you got rid of the meager offerings and now you are being well fed.

Chris- And that is such typical old skool sales- shyster style.  But in great old skool sales there was pride and a value in the client also, the product and the service.

May 26, 2009 02:57 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Jeanna- True, but if a new agent starts to stay no, they won't feel as scattered.

Joanne- Yes, and the ability to send a client another way in mutual best interest.

Joe- True and more and more over time I am feeling like it's not best for EVERYONE to own a home or a business for that matter.

Missy- So you are saying you have a value on your time and that of your team's....hmmm....that's something:-)

May 26, 2009 03:00 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Isaac- WHen there's a will, you can learn most everything- HOWever, in the process of learning, a critical client shouldn't have to suffer and that's one of the reasons I bring up scenario one.

May 26, 2009 03:02 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Renee- Positive language is great, nothing wrong with that at all.

Sharon- haha, sometimes it doesn't make cents...oh I know.

Sharon- Good will can pay off in many, many ways you are right.

Tchaka- "more concerned about losing business than they are thinking of the opportunity costs.

For my industry too, I am concerned about this.

May 26, 2009 03:04 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Elizabeth- You are right and there are better things to do with time than become indentured servants.

Valerie- I too think it's impossible to please everyone AND it's impossible to know EVERYTHING.

May 26, 2009 03:06 PM