I had lunch recently with Rob Borris, a client who was very successful as a commercial real estate broker before switching gears to the real estate investment side of the industry. He built his own brokerage firm and trained some of the biggest producers in our industry, so I asked him if he had any advice he would give a younger sales broker. He said his advice would be to always remember Rule Number 1: “It’s not about what we want; it’s about what they want,” “they” in this case being the client. He also told me about Rule Number 2: “When in doubt, refer to Rule Number 1.”
We both agreed that learning to focus on the client’s needs and desires above your own is a key attribute to being successful in any kind of client-driven business. The first step towards achieving this is to shut up and really listen when your client talks. Do your homework and thoroughly investigate the client’s industry and their requirements. Ask a lot of questions and take a lot of notes.
Once you’ve gathered all of the information, begin to formulate a proposal focused on meeting the client’s requirements. As you draft the proposal stop frequently to review it and ask yourself this question: it is focused on what is best for the client? I can guarantee you that when your client reviews your proposal, that will be the first question on their mind. It’s like Tony Robbins pointed out in one of his books: if you are shown your high school class picture, who is the first person you will look for in the photo? Ninety-nine point nine percent of us will look for ourselves first, without even thinking about it. If you want to win the client’s business, write a proposal that keeps the focus on the client.
Assume nothing, because it will cost you in the long run. I’ve made the mistake twice recently of assuming I knew everything about the client’s needs before I had really listened to the client. When I finally started paying attention to the clients in those cases, it turned out my assumptions were completely off.
Flexibility is the key when beginning to work with a client. There’s an important saying to keep in mind: “Buyers are liars.” Don’t get the wrong idea – most buyers are not deliberately attempting to be dishonest. But when they first start the process they don’t always have a firm idea of what they really want and need. What they tell you they want at the beginning of the process is likely to change at least a little bit after you begin to show them different buildings and describe the options available in the market for their requirements and in their price range. This is why when I am giving property tours I always like to start with the building I think will work best for the client. They get a really good option with which to compare all the subsequent buildings we tour, and they get to see that I listened when they told me what their needs were and delivered a property that addresses all of them right away.
Last but not least, don’t make the mistake of putting your needs ahead of the client’s because that it a recipe for disaster every time. The client will always be focused on what is best for them, and they will usually be able to tell very quickly if you are steering them in another direction that doesn’t fit their needs as well. Stick to the client’s best interest and you will usually be able to complete the deal to everyone’s satisfaction, as well as laying the groundwork for possible future business from the client.
Just remember: it’s not about us; it’s about them.
Have a great weekend,
Ro
Special thanks to Rob Borris for his excellent advice.