What it Cost vs. What it’s Costing You

Not long ago, I was chatting with a Realtor who’d called to inquire about our Transaction Coordinator services. Before sharing with him what we offer, I asked him more about his business and why he was contacting us.

He told me about his production, the number of years he’d been in business, as well as his family he wanted to be more available to, and that he knew he needed to do something to give himself more time in his busy day.

We discussed some specifics about the things a Transaction Coordinator from our team would help with, and he told me he was impressed with the extra stuff he hadn’t thought of having someone else do for him.

He then confessed that he currently had someone on his team he’d brought on a few months ago and he wasn’t happy with the work they were doing. He felt that he did a lot of the things his Transaction Coordinator should be doing, and that was the reason he’d called us.

I reminded him that like Realtors, not all Transaction Coordinators are alike, he agreed.

As we discussed the fee for our services, he raised a concern. It seemed his current rate, with the person he wasn’t happy with, was $75 less per transaction than our fee. I listened to his thoughts on this and then asked him, “what is it really costing you”?

He asked me to clarify – so I asked him if he woke up wondering if his current Transaction Coordinator had handled a vital matter he’d delegated to her, he said yes. I asked him if he had to tell her more than once to follow-up on something, he said yes. I asked him if there were times he just did something rather than letting her do it, he said yes. Then, I asked him again, “what is it really costing you”?

After some quick calculations, he realized that with the volume of transactions he was doing and the price point he was at, he only needed to sell one more home a year to more than make up the difference. He said, “I can do that with my eyes closed.” He also confessed that he feared he may have lost a referral or two due to the level of service his former TC was giving.

In the end, the savings he was receiving by using another Transaction Coordinator wasn’t really saving him anything at all; it actually cost him more. Now onboard and assigned to a trusted team member, his production has increased and best of all, his family sees more of him too.

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