"If you win, you win some money. And you earn a lifetime of bad reviews and negative referrals. If you lose, you don't win any money and you earn a lifetime of bad reviews and negative referrals, Hahn wrote. Does this buyer have friends? Family? Colleagues? People he knows at church? At the country club? Does the buyer have social media? How do you imagine this buyer will be telling the story of this $24,000 payment?"
"Word of mouth marketing remains effective According to Hahn, despite technological developments, word of mouth marketing, especially in real estate remains incredibly effective. We trust what our friends and family and people we know tell us about a company, a product, a restaurant, a service that we know nothing about, Hahn wrote. It is why so many brokers, coaches, and experienced agents talk about staying in touch with past clients, providing the highest level of service, and being obsessed about customer experience."
Litigation to recover broker fees can produce monetary recovery but also generate enduring negative reviews and referrals whether the broker wins or loses. Social networks, family, colleagues, church and country club contacts, and social media amplify how a buyer will tell the story of a disputed payment. Word-of-mouth remains highly influential in real estate, with people trusting recommendations from friends and family. Brokers and agents prioritize staying in touch with past clients and delivering exceptional customer experiences to avoid provoking negative publicity. The settlement-era shift increased accountability for both buyer agents and buyers by normalizing written buyer agency agreements.
Read at www.housingwire.com
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