The Power of One
By Katherine Tarbox, Senior Editor, REALTOR® Magazine
I spent my Sunday brunch thumbing through the pages of a new book, Selling Luxury: Connect with Affluent Customers, Create Unique Experiences Through Impeccable Service, and Close the Sale (Wiley, 2009), which gives insights from some of the leading high-end brands such as Cartier, Lexus, The Four Seasons, and Piaget. While a home is a much different product than, say, a Rolex watch, you’d be surprised at how similar the transactions can be.
One of the messages that really hit home for me is that a customer is not just one customer. There was a powerful anecdote about how a hair stylist from California went into an expensive jewelry store and the sales ambassador was very attentive to her. The associate helped her try on rings in the six figures, though the stylist would never be able to afford them. It was a wise choice for the store worker to be attentive, because the hair stylist told almost all of her clients about how overwhelmed she was by her treatment. Long story short, the store created excellent word-of-mouth advertising and the stylist sent many clients to the jewelry shop (one even bought the very ring the stylist loved!).
When meeting new clients, it’s easy to forget that they have a sphere as well. While that client might not be able to buy the house, perhaps they are in contact with people that could, or maybe they might be able to buy the house in the future. I had a friend who had a terrible experience with a practitioner, most likely because the real estate pro didn’t think there was a big commission check at the end of the tunnel. The friend ended up working with another practitioner, and then referring her friends (which resulted in some hefty commission checks).
Moral of the story: One customer is not just one customer.
