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How to Win Even When You Lose a Deal

August 12, 2013
From Loan Officer Kelly Ifland

From Loan Officer Kelly Ifland

You’ve shown your clients 30 homes, and they decide to go with another professional. Or they decide to delay their purchase. Or select another builder. You’ve invested a great deal of time and energy in them, so how should you react when you lose a deal?

 

1. Take an honest look at the deal. Sure, you spent a lot of time with the client and gave it your best effort, but were there areas in which you could have done better?  Clearer or more frequent communication? Better listening?  More education on the current market to set more accurate expectations?  Smoother interactions with the buyer’s agent?  Use this opportunity to evaluate whether you could have done something differently.

2. Be gracious. First impressions are important, but so are last impressions.  Sometimes the timing is just not right for the client, but it’s not personal. By ending your relationship gracefully with the invitation to call you anytime (even if you don’t mean it!), you leave the door open for future business and referrals.

If you have negative opinions about anyone you’ve worked with, keep them to yourself. Talking badly about a client or another real estate professional can end up hurting your business more than anything else.

3. Understand it’s a game of numbers. Rejection can be painful and can cause you to doubt yourself. However, it’s just business. Even with the very best service and attention to your customers, you will have some who go elsewhere or are unhappy with some aspect of the relationship. Analyze what happened, but then move on.

4. Shore up your network. You are only as good as your partners. If one of them has let a client down, it reflects on you and can jeopardize your current deal or repeat business. Evaluate the partners you work with – and make sure they deliver the level of service you do. If they don’t, it may be time to reach out to others.

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