Ten reasons real estate clients want to pay more to the agent

By
Real Estate Agent with Henderson-Sotheby's International Realty

Why should any real estate buyer or seller want to pay more to their agent? Isn’t it exactly the opposite of what clients want: pay less or not pay at all? Here is the two word answer: Ritz Carlton. Do not read further if you as a real estate client do not want “Ritz Carlton treatment” or if you are an agent who is not interested in providing it.

What do I mean by Ritz Carlton treatment? I just stayed at the Ritz Carlton Battery Park in New York - it was expensive and worth every penny I paid. Let me give you the 10 golden nuggets of what this treatment is and why real estate clients would want to pay you for it.

Here is what makes Ritz so special and how our clients would want no less
.Ritz treatment in real estate

1. Ritz treatment is about top quality – the sheets, the beds, the flowers, the building, the public spaces  – is beautiful and made to be enjoyed through touch, feel, smell, views, tranquility, energy and spice, anything and everything to make the clients feel special.

In real estate we can have the “standard package” with the MLS, the signs, the company web sites. But we can also have a “Ritz” package – creative brochures, beautiful videos, unorthodox advertising channels, interactive presentations, blogs, and web – presence that is unique and targeted.

2. Ritz treatment is about the expected standard and reducing risk
. When you make reservation at any Ritz hotel in the world you can expect the same standard of quality. It relieves a lot of anxiety knowing ahead of time you can expect quality all the time.

In real estate it is as important to communicate clearly what our standard of quality is and what our clients should expect. Is it different for a $300,000 property and a $3,000,000 property? Is it different for one community as compared to another? If it is, what is the difference and what should the client expect?

Our standard of quality should be just that – standard.  This consistent standard would eliminate a lot of stress and reduce the risk for our clients when selecting their real estate agent and entrusting us with their important asset -their home.



3. Ritz Treatment is about attention to details. My son was very excited when he saw on the web site the picture of the room with a telescope. He asked me, if our room will have one. I said that it was there probably as a prop for the photo. To my surprise every room with the view of the New York Harbor had the telescope. This was a detail but it made our stay so much more enjoyable.

In real estate it is as important to deliver the details that make our clients experience more enjoyable? It can be staging, it can be making the showings easier, it can be accommodating the clients' time and schedule. It's details that can add to a big difference in service.



4. Ritz treatment is about training. Every employee is trained to the same high level of service to clients.


In real estate it is as important to have agents trained in the best and latest marketing and communication available.



5. Ritz treatment is to say “yes” to clients’ requests. You can stop a person from the housekeeping and ask about something totally unrelated to their department. The answer is always “I will get it taken care of”- and they do.

In real estate do we unequivocally say to our clients “ I will get it taken care of”, or do we think it’s not our job?



6. Ritz treatment is about communication.
If you are standing in the lobby, you can expect a staff member to come over and ask if you are enjoying your stay, where are you from, is there anything you need? The room attendant will leave you a note with the weather forecast and also asking if there is anything you need.

In real estate it is as important to communicate on a consistent basis with our clients about important things, and sometimes just asking if there is anything else they need?


7. Ritz treatment is about upgrades. When you make a reservation and ask for an upgrade, although they do not guarantee it, they will always do it, if they have room availability.

In real estate it is as important to upgrade our service, when we see an opportunity, or when a client is asking for something extra that can be done.



8. Ritz treatment is about doing the right thing. You will be asked so many times during your stay “Is everything OK?” that it’s probably not possible to have something major or even minor to go wrong without it being addressed right away.

In real estate it is as important to not allow big time gaps for asking “Is everything OK?” A lot of small problems can be fixed before they develop into big problems.



9. Ritz treatment is to know you as a friend. If you mention an important event in your life, while staying there, you can expect champagne, or fruit, or chocolates and a card with best wishes.

In real estate this may be the most important - treat our clients as people and friends who want to receive our best wishes.



10. Ritz treatment is to provide the product and service that was worth every penny in their clients’ mind.

Shouldn’t this be the treatment all real estate clients deserve?




Please contact Faina Sechzer at 609-553-41755 with any questions and assistance in buying, selling real estate, and relocation assistance in Princeton, Montgomery Township, West Windsor, Hopewell, and Lawrenceville New Jersey. Referrals are accepted.
If you are moving out of this area, please inquire about the countrywide relocation program.


Copyright   2007 Faina Sechzer All rights reserved. This information cannot be copied, reproduced, transmitted, distributed, displayed or published.


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Ambassador
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Faina, Enjoyed our conversation today. You are a delight.

 Please let me know how these ideas work for you. You are welcome to share on the Rain.

 

Nov 16, 2007 11:50 AM #125
Rainer
208,176
Julianna Hind
eXp Realty - Tacoma, WA
REALTOR, 206-679-4768, Tacoma Federal Way, Auburn, Kent, WA
I agree 100% FAINA, the extra customer service and attention to detail is what makes signature service!
Nov 16, 2007 12:33 PM #126
Rainer
91,892
Faina Sechzer
Henderson-Sotheby's International Realty - Princeton, NJ
Real Estate Expert - Princeton, Montgomery ,Hopewell, NJ
Margaret -it was great talking to you. It's always a bit of a nice surprise to hear the "real" voice behind the blog. Your idea is great. I'll let you know what happens. Thanks.
Nov 16, 2007 11:03 PM #127
Rainer
140,861
Daniel Seider
BTRE Big Trees Real Estate - Arnold, CA

Great incite on why we should expect more for giving first rate service.

Nov 17, 2007 05:23 AM #128
Rainer
91,892
Faina Sechzer
Henderson-Sotheby's International Realty - Princeton, NJ
Real Estate Expert - Princeton, Montgomery ,Hopewell, NJ
Daniel - I agree - we should also explain what first rate service entails. Thanks for your comment.
Nov 17, 2007 05:33 AM #129
Rainmaker
387,816
Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!
This was excellent Faina.  Real Estate agents need to think about the level of service they are truly providing.  It is the Ritz...or the Holiday Inn?   And then charge appropriately.  This would make our service much less confusing to the public who remains perplexed by the fact that you can hire a great agent and a lousy for for exactly the same price.
Nov 17, 2007 01:41 PM #130
Rainer
91,892
Faina Sechzer
Henderson-Sotheby's International Realty - Princeton, NJ
Real Estate Expert - Princeton, Montgomery ,Hopewell, NJ
Lola - that was my point. To make it very clear -the service has to be spelled out. Nobody ever says -"I provide lousy service". Yet you and I know that there is a big difference in what agents provide. Once it's clear what we offer there should be no arguments about the price. Thanks for your comment.
Nov 17, 2007 01:46 PM #131
Rainer
70,478
Jan Wood
None - Gallatin, TN
Great blog!  Yes, we all want the pampered style.  I love it and my clients love it!
Nov 18, 2007 04:38 AM #132
Rainer
91,892
Faina Sechzer
Henderson-Sotheby's International Realty - Princeton, NJ
Real Estate Expert - Princeton, Montgomery ,Hopewell, NJ
Jan - there are some who think they want pampered style, but don't think they should pay for it, or can't differentiate between different level of service. Thanks for your comment.
Nov 18, 2007 09:46 AM #133
Rainer
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Sanford Hall
Boynton Beach, FL

Great topic, relates to what I am doing here.... offering realtors a 4% referral fee for buyers of investment condos up to 40% discounts? Who can beat this deal? Makes the buyer and seller happy........ Lets make it happen and call today. Condos available in AZ, FL, NV, IL and MN..

 

Contact:

Sanford Hall

877-386-3780 ex 2363

561-807-6384

shall1432@aol.com

Nov 19, 2007 09:10 AM #134
Rainer
102,883
Robert Huntsinger
Empire Realty - Upland, CA
Empire Realty Upland, CA - Full Service at a Discount

Good post. Yes, providing Ritz quality treatment may deserves Ritz quality payment, or one can hedge their bets and provide Ritz service at a discount.

Take care!

RJH

Nov 19, 2007 02:20 PM #135
Rainer
91,892
Faina Sechzer
Henderson-Sotheby's International Realty - Princeton, NJ
Real Estate Expert - Princeton, Montgomery ,Hopewell, NJ
Robert -Ritz does not seem to want to take you up on your offer. Why would they offer discounts, when they are all booked up at their regular prices? Thanks for your comment.
Nov 19, 2007 03:14 PM #136
Ambassador
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Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents
Faina: Great blog! I use the same analogy with the Walmart Lube Express vs. A Luxury Dealership Service Center.
Nov 20, 2007 12:58 AM #137
Rainer
13,122
Mary Ann Grafft
Keller Williams Realty - Lubbock, TX
Like Loreena, I use Neiman's vs. Walmart.  No matter how many Walmarts there may be, we're always proud of what we receive at Neiman's!
Nov 20, 2007 07:03 AM #138
Rainmaker
300,375
Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes
I actually read someone else's blog that addressed your blog about the customer service. Right now I am over the lack of customer service out there and the ungrateful attitude laden teens every where that work most of these jobs. Your Orlando & Lake Mary Real Estate Expert, Heather Joubran
Nov 23, 2007 12:50 AM #139
Rainer
91,892
Faina Sechzer
Henderson-Sotheby's International Realty - Princeton, NJ
Real Estate Expert - Princeton, Montgomery ,Hopewell, NJ

Loreena -there are many analogies that can be used effectively. What is important is to give the customer the exact specification for what our service is. People that go to Wallmart do not mistake it for anything else. Thanks.

Marry Ann - you are right. Can't confuse the two. Thanks.

Heather - the problem comes if consumers have to pay high service level prices for low level service work. Thanks. 

Nov 23, 2007 01:06 AM #140
Rainmaker
438,471
Debbie Cook
Long & Foster Real Estate, Inc - Silver Spring, MD
Silver Spring and Takoma Park Maryland Real Estate

I'm at a loss for words. What a wonderful, astounding, relevant, stupendous post!

Thanks for posting!

Nov 25, 2007 02:29 AM #141
Rainer
91,892
Faina Sechzer
Henderson-Sotheby's International Realty - Princeton, NJ
Real Estate Expert - Princeton, Montgomery ,Hopewell, NJ
Debbie -all I could say was: "what? where? who? me?". Thanks, you are too generous with praise, but I will take every single word and enjoy it.
Nov 25, 2007 06:48 AM #142
Rainer
10,499
Pat Emmett
Prudential Palms Realty - Sarasota, FL
Faina, thanks for a great post....it is actually the inspiration for my sales meeting tomorrow!   We are going to focus on how to give Ritz service.   Should be a pretty good topic, I think.   Pat
Nov 26, 2007 01:27 PM #143
Rainer
32,532
Michael Fowler
Fowler Realty Quad Cities - Davenport, IA
Broker, Owner Fowler Realty
Finally something I can use.  Very informative.  Thank you.
Feb 26, 2008 08:31 AM #144
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Real Estate Expert - Princeton, Montgomery ,Hopewell, NJ
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