Dear Realtor…An Open Letter To Real Estate Agents
March 11, 2008
Dear Realtor,
When I was growing up as a small boy in Connecticut, I often heard commercials from a local jeweler named William M. Savitt. Mr. Savitt had come to Connecticut and opened his business in 1919. He was just one of seven children of Russian-Jewish immigrant parents and he dropped out of school at age 14.
Back in the 1970’s and 80’s as I was growing up, it was not his jewelry business that caught my attention. It was the snazzy uniforms that he bought us to wear for our little league team. I did not know who he was but on my back I wore a simple slogan that became folklore back in Hartford, Ct.
P.O.M.G. Peace of Mind Guaranteed. That was it. A 4 letter acronym followed by a four word slogan. For decades he built his brand identity on a very simple catch phrase. And what a business this former dropout built.
Never doing business like most jewelers did then and as fewer do now, Mr. Savitt built his business by guaranteeing his clientele a lifetime guarantee. Customers were guaranteed complete peace of mind if you decided to do business with Savitt Jewelers.
Standing behind his famous guarantee, he actually walked the walk and talked the talk to the tune of over $10 Million dollars per year in annual sales. Savitt knew that in a business based upon service, that his consumers had choices.
If they were not satisfied with his business there were many other jewelers available that would gladly take the business. So he knew he had to go above and beyond his product and be the man behind the business. It worked for generations that followed, and will for generations to follow, as the Savitt name lives on in the jewelry business nearly 90 years later.
That famous guarantee, dreamed and implemented by a high school dropout of immeasurable success lives on.
Savitt’s legacy is brought to memory as I recently read a couple of articles by some notable real estate agents. One agent who is now a broker and recently opened his own brokerage, instituted a new policy on all of his listings that may make him unpopular with others in the industry.
Another also implemented a radical change to his business mirroring the former broker mentioned. 
The radical change, implementing a totally cancellable listing agreement with no questions asked. In my mind these two brokers exemplify the same attitude that I remember from Mr. Savitt. The customer is king. The customer is always right, and the customer DESERVES premium service and quality service.
Like Savitt, these men are standing behind their business and I applaud them. They are tired of being associated with an industry known for lackluster service. They realize that all the technology in the world, all of the branding promotions, all of it means nothing if you are not prepared to show the consumer that you are a different breed of real estate agent.
That new breed being that agent who is bold enough and confident enough in their abilities to guarantee their clients service nonpareil.
So, my question, in this open letter, is to the rest of the country’s real estate agents. Are you prepared and willing to stand behind your abilities? Are you willing to excel in your field and challenge the consumer to find a better agent than you? Are you willing to allow your client to fire you with no questions asked if you do not deliver?
Are you prepared to offer your clients the feeling that Mr. Savitt afforded generations of his clients? Are you prepared to offer complete P.O.M.G.? Peace Of Mind Guaranteed. I think the American consumer deserves this from all Realtors and should demand it. In fact I encourage all consumers not to settle for anything less.
It’s time to see this business change and if it is by just one broker at a time, then at least it’s a start.
Imagine the revolution!
[…] Dear Realtor… An Open Letter To Real Estate Agents, by Barry Cunningham. […]
Viva la revolution!
Hey Laurie, Thanks for the comment. Here’s hoping for a movement!
Barry -
Great letter. Lets face it, the general publics impression of realtors is not-so-swift. And much of that poor reputation is earned. We need to focus on the core value of customer satisfaction.
You couldn’t be more right. The customer IS king!
Proud that my post played a part in this one.
Keep up the fabulous work!
I’ve had that in my listing and buyer’s agreements for years… even wrote another post about it on February 11th…
Barry - Thank you for articulating an ache which surely exists in the gut of many consumers. Mr. Savitt understood that his guarantee to the customer ultimately meant that he would have to continually excel in his work - stagnation was not an option. Jay Thompson has taken his bold step, and placed his foundation firmly in the same ground as Mr. Savitt. His business will be built on solid ground.
Many Realtors will fall by the wayside as this market continues to plod along, their businesses planted loosely in the sands of WIIFM. They give lip service to the basic tenets held by Mr. Savitt, and many practicing Realtors, but their actions (lack of?) in the best interests of their customers scream so loudly that their customers never hear even their faint whispering of “the customer is #1″. No, those Realtors only see #1 when they look in the mirror each morning.
Those who read your letter, and, more importantly, embrace the concepts you describe, will surely prosper through this market, and well into the future.
Hi Vance…great comment and I hope we see more agents come around.
Good article Barry…I also have utilized the “24 Hour Listing Agreement” with my clients.
Thankfully it has never been exercised. I think the mind set of people not willing to guarantee their work comes from the fear of not having or of losing.
Quite frankly, if my client is not happy then I’m not happy. If they are not ecstatic about my services then I don’t deserve their business to begin with.
Agents don’t realize that they aren;t doing anyone any favors here…Buyers and Sellers are to be served NOT serviced!! Big difference.
Keep up the good work!!
Great quote..”Buyers and Sellers are to be served NOT serviced!!”
Spot on!
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