The 4 Types of Clients and How to Manage Them

Summary

The speaker categorizes clients into four types: cheap, difficult, sophisticated, and high ticket. He emphasizes the importance of attracting high ticket clients who make purchases based on emotions and status. The speaker suggests that to attract such clients, one must embody the qualities of a high ticket buyer themselves, understanding their psychology and appreciating quality. He also highlights the concept that everything in nature reproduces after its own kind, implying that personal behavior and attitudes can influence the type of clients one attracts.

Takeaways

• 💰 There are four types of clients identified: cheap, difficult, sophisticated, and high ticket.
• 🤔 Cheap clients are characterized by their desire for lower commissions and reluctance to pay, often being unsatisfied despite efforts.
• 😠 Difficult clients are never satisfied no matter the extra work done for them, often impacting the service provider's day negatively.
• 🧐 Sophisticated clients are well-informed, knowing what they want and having clear expectations, similar to discerning wine buyers.
• 💎 High ticket clients make purchases based on emotions and status, valuing quality and brand over cost.
• 🚫 The importance of not accepting every client, especially cheap or difficult ones, is emphasized for maintaining a positive work environment.
• 🔥 The concept of 'removing' cheap and difficult clients to make space for high ticket clients is introduced, advocating for quality over quantity.
• 🌳 The analogy of an apple seed needing to be planted to grow an apple tree is used to explain the necessity of embodying the traits of the desired client type.
• 💡 To attract high ticket clients, one must first become a high ticket client themselves, understanding their psychology and needs.
• 🛍️ High ticket clients appreciate and seek quality, which is why understanding and offering quality is crucial for attracting them.
• 🏆 The real estate business is positioned as a facilitator of transactions, where the service provider is the main 'product' being sold to clients.

Q & A

What are 'cheap clients' as described in the script?

Cheap clients are those who always want to lower the commission and are difficult to deal with. They desire everything but are not willing to pay for it, often appearing tight and cheap.

How are 'difficult clients' characterized in the script?

Difficult clients are never satisfied, no matter how much extra work is done for them. They seem to always be unhappy and can make the service provider's day worse.

What makes 'sophisticated clients' different from the other types?

Sophisticated clients are well-informed and have done their research. They know what they want and are clear about their needs, similar to how a knowledgeable wine buyer would choose a specific brand or vintage.

Why are 'high ticket clients' desirable according to the speaker?

High ticket clients are desirable because they buy based on emotions and status, not just price. They seek quality and are willing to pay for it, which can be more profitable for the service provider.

What is the main issue with having cheap and difficult clients, as mentioned in the script?

The main issue with cheap and difficult clients is that they consume all the service provider's mental bandwidth, energy, and time, preventing them from focusing on building a pipeline for more high ticket clients.

What philosophy does the speaker suggest when it comes to accepting clients?

The speaker suggests that just because someone is willing to pay, it doesn't mean the service provider should accept them. It's important to ensure the client will be good to work with, as life is too short to deal with difficult clients.

How does the speaker handle clients who ask for discounts?

The speaker tells clients who ask for discounts to go to someone else, stating that they are not the right person for them. The speaker values the quality of clients over the quantity.

What is the analogy used in the script to explain the importance of being a high ticket client to attract similar clients?

The analogy used is that of an apple seed growing into an apple tree. Just as an apple seed cannot grow into an orange tree, one must first be a high ticket client to attract and understand the needs of other high ticket clients.

What is the role of a real estate broker according to the script?

A real estate broker is a facilitator of transactions. They do not control the product or the money; they are essentially selling themselves and their understanding of the clients' needs.

Why is it important for a broker to understand the psychology of high ticket clients?

Understanding the psychology of high ticket clients is important because it allows the broker to meet their needs and appreciate their quality standards, which in turn can lead to more successful transactions.

What does the speaker suggest is the key to attracting high ticket clients?

The key to attracting high ticket clients, according to the speaker, is to embody the qualities of a high ticket client oneself, including understanding and valuing quality, which aligns with the 'law of the universe' that everything reproduces after its own kind.