Why Loyalty Matters for Real Estate Agents and How to Build It

The real estate industry is always asking: What's next? As thought leader Brian Boreo of 1000watt once said,

Whoever figures out loyalty in real estate will win.

The key word there is loyalty, an often-missed success factor.

But of course, earning it is easier said than done.

With 80% of sellers saying that they would work with their real estate agent again but only 11% actually doing so when the time comes, staying connected over long periods of time can feel like an uphill battle. After all, finding new leads tends to be easier than maintaining strong connections with past clients, right?

In the short run, yes—simply put, finding active sellers and buyers will always be easier than keeping up with happy, satisfied new homeowners who are more focused on their current purchase. But in the long run? Keeping your relationships with past clients strong is an investment that earns you something essential for your business: loyalty.

Why loyalty matters

With the number of options for absolutely everything these days, client loyalty can be a fickle thing.

There are a lot of reasons why a past client might end up not contacting their agent again. Maybe a new agent appeared at just the right time and place. Maybe it was difficult to find their contact information, especially years after that last conversation.

And yet, building loyalty is what will earn you repeat business and coveted referrals—in essence, this is an investment that will undoubtedly pay off. Maintaining relationships with past clients ensures that you're strengthening your circle and building your business, step by step. Finding fresh leads is important, but there's great value to be found in building on those established client relationships on an ongoing basis.

Two key questions remain:

1. How do you build enough loyalty with past clients to keep winning their business in the future?
2. How can you stay top of mind during the years in between?

Well, similar to a chef's knife or a musician's instrument, finding the right tech tool is an agent's best bet to finding these answers.

How tech solutions can help

New technology tools, whether they're full software programs, integrated add-ons, or a combination of the two, can work wonders by saving you time for what only you can do with a human touch—build on your client relationships. In an age where we can automate tasks to boost efficiency in our workflows, spending precious time on doing things manually just doesn't make sense.

For example, keeping up with your past clients through regular communications, whether that's every month, six months, or year, has always been an effective way to maintain that connection. You can create and send reports to provide valuable information each time, too. Still, doing this manually will cost a significant chunk of time in your workday.

Tool highlight: Homebeat

Tools like Homebeat, a Cloud CMA add-on, will do exactly what we've just described above on an automated basis. From sending a live, personalized CMA to keeping the lines of communication open between you and past clients, Homebeat covers the entire process without requiring much upkeep after setup.

This way, you can stay connected to clients in the years between their next moves, big or small. And your clients will have regular access to accurate market data in their Homebeat reports, including where their homes stand in comparison to other homes in the local area—which can influence the decision of when to buy or sell. Building trust by providing relevant information through CMA reports will help to enhance agent-client relationships, too.

All in all: Stay memorable

Stay memorable by offering your past clients-turned-homeowners the useful information they didn't know they needed and being a message or call away when they're ready to buy or sell. That can be easy to do with technology solutions.

After automating your marketing strategy, you can sit back and rest easy knowing that you've taken the steps to stay connected with past clients and primed the path toward repeated business and highly sought referrals in the future.

To view the original article, visit the Lone Wolf blog.