The "Rule of Threes" is in who's best interest anyway?

The "Rule of Threes" is in who's best interest anyway?

I remember the "Rule of Threes" from my new agent training some 27 years ago. Basically the "Rule of Threes" states that it is in both the client and the agents best interest to refer three attorneys, banks, building inspectors etc....I was taught that by referring at least three of any particular vendor I could not be held responsible if my client should happen to have a bad experience with the one that they chose out of the three. This practice was supposed to be better for the client, better for me and better for the office that I worked for.

It sounded like a good idea so that is the way I made referrals in my early years as a Realtor. In theory it sounds easy but I soon found out that it wasn't that easy in real life. I always had one or two really good people that I could refer to in each category so I would add the third based on one of my colleagues recommendations. The problem is that my clients reported to me that they weren't happy with these alternates and I would replace them before making the next referral.

My only rule was that anyone on my list had to put my clients interests first and leave them satisfied with their experience.I was really at a loss as to the best way to continue this practice as I was tired of being left with mud on my face.Finally, I attended a mandatory continuing education course on Real Estate Law taught by the attorney for the State of Ct. Realtor Association. He had an interesting opinion on "The Rule of Threes". He said that EVERY referral that a Realtor makes opens him up to exposure to litigation. The people that you refer are indeed a reflection of you so only refer the people that you feel comfortable with. What a relief! Now I refer the people that I feel are the very best at what they do and if I don't have three then I don't have three. Of course I remind my clients that,even though I make a recommendation, they are free to choose anyone that they would like. Unfortunately, nine times out of ten these substitutes don't seem to hold up under the pressure of a Real Estate transaction.

I recommend Attorney Raymond Yamin of Yamin and Yamin and Attorney Francis Pennarola of Chipman Mazzucco as excellent Real Estate Attornies. Daryll Griggs of Housemaster of America in Danbury, CT is an excellent building inspector. Finally, excellent mortgage people are Rod Moore of Wells Fargo , Michelle Grull of Savings Bank of Danbury and Robert Dirusso of Mortgage Master .