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Why Less Is More and Saying ‘No’ Is Good for Business

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Commentary by Carol A. Sollak

Engel & Völkers is an international luxury real estate brand with a reputation for providing a consistent level of white-glove service throughout the world. We have a network of almost 600 brokerages located in 38 countries. If you haven’t heard of Engel & Völkers yet, it might be because we are strongly committed to the idea of exclusivity.

Exclusivity is a mindset and highly regarded value shared by everyone who joins our brand. It is our ability to be highly selective when it comes to every decision. It has always been, and continues to be, vital to our success and our strategic growth over the past 37 years.

How do we define exclusivity? It is being discerning and having the confidence and the resources to be able to say no when others might say yes. We say no and we say it often. It’s who we are and how we remain exclusive, even as our brand continues to grow.

When we say no to an opportunity, it is typically because it does not meet the standard we require to provide the very best service possible. This might have to do with where we locate our shops, the agents we welcome into our office, and of course, the clients and properties we choose to represent. What we’ve discovered is that when we do say no, more of the top-producing agents and the savvy sellers desire to work with us. Even better, they trust us to utilize our proven systems, strategies and tools to generate the desired results—which ultimately makes everyone happy and our business more fun.

Those who don’t get it, go somewhere else—which is also good news. Why should an unhappy or unproductive agent take up our resources? Why should we work with a seller who doesn’t appreciate the value we bring to the table? Why should we market an overpriced listing that isn’t sellable? Why should we put ourselves, our advisors or our clients through anything but a first-class and productive experience?

When we say no, we are able to focus on doing the right business with the right people. We’re not for everyone. We’re exclusive. And, the best part is that it works. More leaders and agents in our industry should do the same.

As Anthony Hitt, the CEO of Engel & Völkers North America says, “The more you are able to say no to a bad opportunity, the easier it will be to recognize and take on the great opportunities you want, the more success you’ll have and the more you’ll love what you do. That’s when you become even more passionate, and passion is what’s behind all great successes.”

Exclusivity is a powerful mindset. Along with passion, and competence, it is one of three core values shared by everyone who joins Engel & Völkers.

Carol A. Sollak is a private office advisor and license partner at Engel & Völkers Wellington and Palm Beach in Florida.

For more information visit http://www.engelvoelkers.com/.

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