We've probably all heard it a million times. REWARD THE ACTION, NOT THE RESULT. This is usually in reference to past clients who gave us referrals. A reminder that you reward the person for DOING the referral to reinforce that you are appreciative of the thought and action rather than just if it results in business.
So I got to thinking. How does that apply to other areas of our business?
When we take a listing, do we reward their choice to do business with us or wait until the transaction occurs?
When we work with buyers, do we reward their chosing us as their agent or do we give them a "closing" gift when the transaction occurs.
I think that the vast majority agents SAY reward the action but actually reward the RESULT. So I wonder, if we had a shift in thinking, could that affect the loyalty of clients. We all talk about how this client dropped me after I showed them houses all day or that client took all my advice on selling their home and went FSBO...putting all the blame back on the "unloyalty" of the client.
Do you think that changing OUR thinking to rewarding the ACTION consistently throughout our business would result in more loyalty?
If you were to have something that you gave to buyers, not as a contingency of signing a buyers rep agreement but just something you did AFTER the fact, would that engender loyalty? If you had a gift to give a seller that chooses you to be their agent, would that engender more loyalty? Of course, don't be fooled...a gift at the decision time is NOT a substitute for WOW service. You MUST follow your loyalty building gift with loyalty building SERVICE.
But, how about it? Are you ready to reward the ACTION and not the RESULT?