My Recommendation:Pick A Service Provider This Way
“Pick a service provider with large amounts of future business on the line. It places you as a high priority. Performance in football and in business is better when there is pressure to perform.”
Use your local real estate agent as a referral, especially when it comes to mortgage lenders or real estate related industries. Do it even if they feel safer providing more than one choice.
Here I introduce a most important principal. I call it “having business at risk”. It’s a message to consumers, always use a service provider that is referred. Do it in a way that their future business is at risk! Be referred by someone important to their future stream of business.
It is a fact, we don’t want to botch a relationship that brings repeat business. My experience has taught me that service providers such as loan officers or plumbers place a higher value on a referral that has been provided by someone who brings them a steady flow of repeat business than a random referral, a walk in, or a response to an advertisement.
I illustrate with two examples: yes, a loan officer and a plumber. The principle applies to a lot more than these two fields. Customers or clients deserve the best service and competitive or fair pricing. When they are referred to a provider they should expect this, as well they should expect delivery on time and receive what was promised as it was promised.
Let’s assume a loan officer earns $1500 on a closed loan. Let us also assume this loan officer has a real estate agent that provides him or her access to clients every month on a steady basis, perhaps 10 loans a year come from those referrals. Doing a good job for a client in this business can be time consuming, there is much to do to assure things go well, that the loan closes on time and as promised.
The loan officer also has to do a lot of communication with the various parties involved. The $15,000 a year earned in this example is well earned. Next, suppose that you hear about this loan officer from a radio advertisement or from a neighbor. Of course your loan is important, after all $1500 will buy a lot of bread. But let’s say things get stressful. Perhaps rates start rising and people start panicking, the loan officer’s phone starts ringing constantly as an example. Even if the loan officer is doing his or her best, who has the priority if things get real difficult? Whose loans are less likely to have a crash or problem? You, who were referred by a neighbor or an advertisement, or the real estate agents client, that agent who is the source of many loans? In working with and employing hundreds of loan officers I understand that no matter how serious the effort, how genuine the intention, how stalwart that loan officer may be, the repeat business has priority.
This illustrates what really can happen. It can happen in any field.
The plumber example is first hand and recent. I should have practiced what I am preaching. We had water coming out from underneath our washing machine. We asked a neighbor for a referral. (We live in a condominium high rise) The plumber turned out to be actually two plumbers. I had no idea why two plumbers had to come.
The fix was a quick one; they used a rooter type tool so I asked them to see if they could use the tool to speed up the draining in a bathtub. This took another few minutes, not many. They were here at our home for less than an hour. How much should the bill be? We live in downtown Salt Lake City, not in the middle of nowhere. The bill was a staggering $750.00. It gets worse.
The job they did on the bathtub drain was a bad job. The next morning we had a knock on our door, the building maintenance supervisor was the bearer of bad news. Our draining tub was filling the hallway with water. Yes, the rooter tool ruined something in the drain. Who were we? We were just one client out of the blue. They had only our small world of business to lose. So did they honor their mess? No they did not. They would not come out and repair their work, nor did they think their bill excessive.
We had to hire another plumber. This time we found one the condo association and management company could refer us to. I made sure I got a name from the onsite manager. I spoke with the maintenance supervisor. When we called their respected plumber I used them as the referral. Messing with us now could cost this plumber future business. This next plumbing experience was a good one. Perhaps they would have been this good under any condition. But why wasn’t the first one honorable? Our problems were now solved. In fact, we also had the second plumber fix a sink that had a little leak. This visit was longer than the first one. The bill was $175.00. But wait, we discovered that the fix on the second sink actually caused it to leak more. We called the next day and instantly they were out to fix it, at no additional cost. We were happy. Shouldn’t we always end up being satisfied as in this second experience?
To assure that result, “always use a service provider that is referred. Do it in a way that their future business is at risk! Be referred by someone important to their future stream of business.”
Larry K Cragun, REALTOR®
Graphic via license with http://presentrermedia.com/
MediaOne Real Estate
4770 S 5600 W West Valley City, UT 84118Phone: 801-204-6000 URL of Map
by Larry K Cragun, REALTOR®
Search for homes on http://HomeSearchInSaltLake.com/
MediaOne Real Estate
4770 S 5600 WWest Valley City, UT84118Phone: 801-204-6000 URL of Map
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