Bad clients are like loaded mouse traps for your time & energy.
Continuing in the series of “Bad Habits to Break” (last week we featured Bad Habit #3: Stop Following the Herd), we bring to your attention a fourth habit you’ll want to quit this year:
Bad Habit to Break #4: Stop Taking “They’re Not Worth It” Clients
Hear us out. You may be thinking: “Every client is a worthwhile client if I earn a commission!” but nothing could be further from the truth.
Think back to that meeting, ages ago, when you had a pit in your stomach about winning the listing. Think about that client that calls up every week to spend an hour shooting the breeze over nothing at all. Think about that client who micromanaged every step of your marketing plan.
While you may feel an urge to work for any client who picks you as their agent, bad chemistry and contrary communication styles can actually cost you more than you’re earning in commission. Don’t ignore red flags just for the sake of a few greenbacks.
Bad clients are often a factor driving up overhead and opportunity costs. For example:
- Micromanaging clients occupy a disproportionate amount of your resources. Marketing and showing a listing “by owner committee” can be a major drag on your time.
- Clients with poor communication skills can result in increased (and expensive) misunderstandings.
- The bleed-over stress from a “not worth it” client can color your mood in all other deals, misplacing negativity and tarnishing your reputation.
- The time one “Not Worth It” client takes might equal two or three “Worth It” clients
The nature of the deal can have a direct impact on how much we’re willing to tolerate. A one million dollar listing can stretch our tolerance beyond the hundred thousand dollar listing.
It’s also true that we sometimes don’t have the luxury of turning down a troublesome client. Brand new agents can’t be as selective (and to be honest, cutting one’s teeth on a tough client is valuable experience).
But as you mature in your career, recognize that accepting anything that comes down the pipeline can be a bad habit. Think back to times when you wish you’d been a little more selective, and keep an eye out to skip those sorts of hassles this year.
Just in case you missed the first three parts of the “Bad Habits” series, you can access them here:
Next week we’ll wrap up the series with Part 5!
(Photo credit: billselak)
