Coaching for CRE: 3 signs you are suffering from commission leakage - by Rod Santomassimo

I want to talk about leakage. And yes, it’s a horrible sounding word.

It is even worse that you’re letting your commission dollars leak out to a competitor. There are three possible ways you are letting your money leak from your pipeline and into a sea of folks eager to take your clients.

The first is when you haven’t connected with a client within a reasonable time after the transaction is completed. You have just left them for dead. You got your commission and you moved on. When is the last time you spoke to every client you have ever consummated a sale, lease, financing, appraisal, engineering, or other work? Your client has now become someone else’s prospect.

Second, you just had a successful experience with a client, yet you don’t ask them for the approval of a testimonial that you drafted. Now you don’t have what you need to take that success and share it with future prospects.

The third form of commission leakage is you don’t ask for referrals, despite having a solid relationship with your clients and colleagues. They have relationships you want, that you need, yet you don’t appreciate it is your duty to help people in their network.

It’s time to take your pipeline to the doctor for a checkup. Patch up those cracks and start maximizing your commission dollars that you undoubtedly deserve.

Rod Santomassimo, CCIM, is the founder and president of the Massimo Group, LLC, New York, N.Y.