Please feel free to contact me if this concept is of interest to you.
Here I introduce a most important principal. I call it having “business at risk”. It is important. It’s a message to consumers, on this website you will find providers whose future business is at risk. In other words “always use a vendor that is referred so that they have future business at risk!”
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: 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 and that the loan closes on time.
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. Rates start rising and people
start panicking for example. The loan officer will doing his or her best to not have any crashes, but who
has the priority if things get real difficult? You, who were referred by a
neighbor or an advertisement, or the real estate agents client 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.
I
occasionally have people from out of my market ask me to find them a good
lender. I always make sure I contact a high producing real estate agent,
ask them for a lender referral, and ask them to let the loan officer know I
would be connecting them with my contact. This type of connection is to cement
to the lender that this real estate agent would be aware of how well the
transaction went. This may take a little extra time on my part, but I truly
believe that the best experience possible is in this process.
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 raining
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 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 them future business. This next plumbing experience was a good one. They fixed the damage. We had them fix a sink that had a little leak too. This visit was longer than the first one. The bill was $175.00. The sink still leaked, actually leaked more. We called the next day and instantly they were out to fix the leak, at no additional cost. We were happy.
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 them future business. This next plumbing experience was a good one. They fixed the damage. We had them fix a sink that had a little leak too. This visit was longer than the first one. The bill was $175.00. The sink still leaked, actually leaked more. We called the next day and instantly they were out to fix the leak, at no additional cost. We were happy.
Always
be referred to someone in a way they have future business at risk.
If I
place you on my website as someone I ADVOCATE I expect you to deliver a fair
price, on time, delivering the product or service as promised. You should
expect that of me too. We would be expecting each other.

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