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How Do Most Clients Find You? Why It's Vital to Stay Top-of-Mind

February 09 2021

delta how do most clients find youReferrals are invaluable in the world of real estate. It should come as no surprise to veteran agents that research conducted by the National Association of REALTORS states that the referrals from friends, neighbors, or relatives are the number one way buyers and sellers find their real estate agent. Should you take advantage of referrals? Absolutely. Should they be your only relied-upon source of leads? Absolutely not. Referrals aren't the only way sellers and buyers choose their real estate representation.

How Do Buyers and Sellers Choose Their Agent?

Though they are one of the most successful ways to generate new clients, referrals are far from the only ways buyers and sellers choose their real estate agents. Research has shown that the decision-making process for some clients isn't as complicated as it may seem. Though this transaction is significant, some veterans may be surprised to discover that the final decision on which agent to choose boils down to simply which agent happens to be on the mind of the client at that moment in time. Here are five reasons why it's important to stay top-of-mind with your potential and previous clients:

1. Some research has found that individuals often know between three and four different real estate agents.

It's one thing to get a referral from an immediate family member or next-door neighbor; these individuals may have you at the forefront of their minds anytime a real estate topic is breached. More casual acquaintances, however, may think of other real estate professionals in their network before your name comes to mind. Since some individuals know multiple agents, you need to make sure that you stand out in a positive way and always come to mind first.

2. The same research suggests that these individuals will contact the agent that has either contacted them or the one they have most recently saw online or in person.

Perhaps you are very outgoing with your marketing and networking, buzzing around town as often as possible. Are you meeting new faces or seeing the same people? Though one may think that spreading the word as far as possible increases the potential client pool, this research suggests that it's best to interact with the same potential clients as frequently as possible. Whether that means attending a weekly community event or reaching out to potential leads once a month, it's vital to stay at top-of-mind by actively engaging potential clients on a consistent basis.

3. The National Association of REALTORS has found that 75 percent of sellers choose to sell their home with the first agent that they interview.

Every seller wants to get top dollar for their home which is why they are sure to vet multiple agents. However, three out of four will likely choose the first agent that they interview. Staying at top-of-mind means that it's likely you who they'll contact first and, potentially, hire despite interviewing subsequent agents.

4. The NAR has also found that 73 percent of home buyers will only interview one real estate agent during their home search.

Debatably, buying a home is a much more "serious" endeavor than selling a home, which is why it's surprising that research states that nearly three out of four buyers will only interview a single agent before enlisting their help. No matter if it's seller or buyer, staying at top-of-mind to be the first agent that they call is absolutely essential.

5. Other real estate agents are fighting for top-of-mind space, too. Your agency or brokerage isn't the only one in the market.

Other agents are vying for the same clients you are which means there's always active and passive competition to keep on your radar. Should one agency or brokerage find a way to steal the spotlight, the search above shows that being on the right mind at the right time makes all the difference.

Referrals are vital to your success, but you can't neglect the other ways buyers and sellers find their agents. In many ways, staying at top-of-mind essentially involves you creating your own referral. Staying at top-of-mind in your community requires consistency and creative ways of maintaining engagement with those who may need real estate representation. By exploring these new ways of engagement, you can increase your clients, which could then have the ripple effect of creating future referrals.

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To view the original article, visit the Delta Media Group blog.