Real estate lawyer in Salt Lake City aware of competitive market for legal business
Like any realtor in Utah—especially anyone working along the Wasatch Front or Back and encountering a wide variety of clientele, circumstances, and demands—a good real estate lawyer in Salt Lake City knows that the climate, terrain, construction quality, and as always, business relationships are all part of the legal landscape, too. Representing clients in a variety of situations with so many factors contingent upon legal outcomes means that these guys have to be on the top of their game, especially with this legal blog article saying that even “satisfied” clients don’t come back.
While the writer works for a powerhouse law firm in Manhattan and works with New York City real estate law, the same idea applies to the average real estate lawyer in Salt Lake City and the surrounding towns. The legal market is competitive. What are you, as an attorney, going to do about it? The statistics that the blog author puts forward are that 20% of “satisfied” clients fire their lawyer each year, and that it is less than 1% of “over satisfied” clients say goodbye to their legal counsel. Strategizing how to become one of those law firms in the less than 1% category is essential to professional survival, as R. Tee Spjute, a real estate lawyer in Salt Lake City, knows all too well.
Okay, so law firms looking to keep clients have to “over-satisfy” them if they want repeat business, and given how difficult it can be to win new clients from firms with which they’re already working, it’s tempting for a real estate lawyer in Salt Lake City to throw up his hands and stick with the old standbys of practicing with integrity and competence and hoping for the best. And while being at your personal best is important, and will certainly develop your reputation and may even get you some friend-or-family, word-of-mouth referrals, unfortunately, it’s not enough.
So how does an attorney like Spjute make sure he “over-satisfies” his clients? Jokes of Thanksgiving gluttony aside, our legal blog writer working in NYC says the trick is to “wow,” them. Likening the marketing strategies of the practice of real estate law to the marketing strategies of real estate itself, he cites a book by strategists at Ritz-Carlton, whose development of leadership and a superb business model have resulted in hundreds of successful properties raking in money for the company across the globe. Even the name Ritz-Carlton has become suffused within popular culture in songs like “Putting on the Ritz” and adjectives like “Ritzy.”
This isn’t to suggest that lawyers looking for repeat business should team up with firms that have crystal chandeliers or state-of-the-art swimming pools out back—simply that they should shine brighter than the other firms, so that when clients have a choice, they’ll come back to you. Thinking as a client does, this might mean a few things like: efficiency, success in court, lower billing rates, accessibility, expertise, confidence and warmth in communication, to start. The NYC real estate law firm has taken on a new mantra to remind them to go above and beyond: “A satisfied client is a disaster!”