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5 Mistakes that Ruin Real Estate Relationships Before They Start

November 07 2016

ixact mistakes ruin relationships before startIf you're a regular reader of this column, you know that we often discuss the importance of building meaningful real estate relationships, establishing your sphere of influence and staying in touch with your past clients. Repeat and referral business are so valuable and achieved through what? You guessed it: relationships.

Building quality relationships comes naturally to some people, but for many Realtors it can be a challenge—especially when you're scrambling to complete paperwork, prepare for a listing presentation, host an open house, and balance your personal life.

In the midst of everything on your to-do list, are you still able to form meaningful real estate relationships that you can nurture to grow into happy lifetime clients? Or are you making errors that ruin your professional relationships before they even begin?

Let's go over five mistakes that Realtors make that can potentially ruin your relationship with leads, and how to avoid making these errors.

Mistake 1: You don't keep notes on your contacts.

For years, I relied on my memory alone for storing important details about my friends, colleagues, and network of acquaintances. But after a couple of memory faux pas, I realized I needed to be more diligent about keeping notes to help me keep details straight so I can have more authentic conversations with people by recalling past conversations and information they've shared with me.

Keeping notes about your past clients and prospects in your real estate CRM will help you have more meaningful conversations when you connect. Are you keeping notes about family details, pets, milestones and more? This lets you connect with your contacts better on a one-on-one level and build stronger relationships. Your contacts will feel valued and be impressed that you care enough to remember information they've shared with you!

Mistake 2: You don't say happy birthday.

Birthdays are an ideal opportunity to reach out to a real estate lead or past client—are you taking advantage? Almost everyone I know likes to be remembered on their birthday. Make a habit of sending a note or calling a contact on their birthday or the anniversary of their home purchase.

While a note on Facebook is nice, it's not as powerful as actually reaching out to your contact on the phone and connecting with them. Take this chance to wish someone well; it's a natural way to keep your name fresh in the minds of your prospects. Even better, it's surprisingly easy to do! Your CRM will remind you when a special day is coming up, so you can send your well wishes.

Mistake 3: You aren't sending a monthly e-Newsletter.

Unfortunately, one of the primary reasons clients don't re-use the same Realtor is simply because they've forgotten their name! How do you prevent this from happening to you? Send a monthly e-Newsletter full of valuable information to keep your name top of mind with your network.

Sending out regular communications helps establish you as an active, knowledgeable real estate professional, so when your contacts are ready to buy or sell, it's you they'll think of. Your name and your contact information will be conveniently in their email inbox!

Mistake 4: You take too long to reply.

We live in a society that expects fast results. If a potential new client or referral contacts you, whether it's via email, phone call, or a lead generation form from your real estate website, you need to make sure you follow-up as quickly as possible. A study from Properties Online found that the majority of home sellers expect a response from their agent within 30 minutes of making an inquiry.

Mistake 5: You don't act as a well of knowledge.

When a prospect has a question related to homeownership, it makes sense that they would reach out to a Realtor for an answer. This is good news for you, as it helps you remain top of mind and stay in touch with your lead.

If you aren't able to provide your contacts with the information they're looking for, they may seek it elsewhere. If your contacts need a resource, whether it's a referral for a home inspector, a mortgage lender or a contractor, you should be able to provide it. Take the time to build relationships with service providers in your area. Continue to build your business directory and prove to your clients that you're a well-connected expert they can depend on.

Takeaways

Nurturing leads and building valuable real estate relationships can take time. Not every lead is a "hot lead" and some require longer term development. Encourage your leads to thrive by building relationships with them over time.

Building these relationships doesn't have to be a daunting task. With the right tools, you will not only avoid making the mistakes I mentioned above, you'll be using automation to strengthen relationships while saving time.

To view the original article, visit the IXACT Contact blog.