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You are here: Home / General Wholesaling / One Mistake Wholesalers Should Never Make

One Mistake Wholesalers Should Never Make

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It was 5:30 PM and I was driving the 405 south through Orange County.

The phone rings and it is one of my advisors.

Not just any advisor, but my largest.

He called to ask for money for a marketing campaign that would be “featuring” my fund family.

The amount he requested was really out of bounds for my budget.

Using my best negotiating attempt, I threw a counteroffer on the table.

And he played the following card:

“Why are we negotiating, if I am your largest client?”

Rewind the clock 90 days and you’ll find me at dinner with this client.

Somewhere between the before dinner cocktails and the main course, I made the pivotal mistake that offered me a great lesson: I told him, by number, exactly where he ranked in sales in my territory.

And on that fateful day the balance of power shifted.

Here is my suggestion for gift to you: Never, under any circumstances, tell your clients exactly where they rank in sales.

Ranges such as, “You’re one of my 20 best producers”, sure.

Exact ranking?

Never.

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