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Will I Refer My Real Estate Agent?

September 21 2012

ixact will i referIn our last blog post, we shared a chart with you and explained that while 89% of buyers and 85% of sellers say they would recommend their agent or use their services again, a very small percentage actually do.

We promised that we'd share our thoughts with you on today's blog post about why we think this is.

Here's the bottom line: many real estate agents simply fail to keep in touch with past clients after the transaction ends. These agents likely aren't using a CRM for REALTORS®.

The close of your first transaction with a buyer or seller shouldn't be the end of the relationship with them. It should be the beginning.

You've likely done a whole lot of work to get the client in the first place. Maybe you've paid for ads, a website, lead generation services, made cold calls, and given a presentation or two.

And once you're hired, you do even more work to service the client and make sure they're happy.

If you fail to keep in touch after the initial transaction, you miss out on "easy business" in the form of referrals and repeat transactions.

You've done the hard work of getting the client and taking care of them. The easy work is keeping in touch. Remember, studies have shown that it takes a lot less time, money, and energy to retain an existing client then to acquire a new one.

Ask yourself these questions right now: "Am I taking care of my past clients and sphere of influence (SOI) as well as I should be? Am I making the most out of the existing relationships that I've spent so much time building?"

If you answered "no" to either or both of these questions, you need to look at what you can do to improve, to snag that "low-hanging fruit."

You need to be communicating with past clients in a consistent and personalized manner.

There are a number of ways you can do this. As you'll learn below, a CRM for REALTORS┬« is key.

Here are some suggestions:

  • Send out a monthly real estate newsletter.
  • Set-up all of your clients on drip marketing campaigns (a real estate email marketing campaign).
  • Send periodic Just Listed / Just Sold e-Cards or e-Flyers.
  • Make quarterly keep in touch calls to your best clients.
  • Plan events like client appreciation nights or home expert seminars.
  • Send Happy Birthday greetings or acknowledge your clients on their home purchase anniversary date.

Do these ideas sound like they'll be hard to put into practice or manage all at once? With a CRM for REALTORS®, you can easily implement all six of the suggestions above without a big time commitment involved.

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

Other articles of interest: AgentOffice | 10 Things Not to Buy in 2010