client relations

No Client Should be a “Former Client.” Five Strategies to Reconnect

Sep 16, 2024

Nurturing. It’s the most effective method of moving leads and prospects through the sales funnel. Do it right, and you end up with clients who, if nurtured, can provide you with referrals.

Nurturing your past clients requires reconnecting with them consistently after the transaction.

1. Ensure that your customer service is unforgettable

No, you don’t need to present them with a whirlwind trip worldwide at closing. It’s the small things that when added up, will leave the best impression and one that will last far into the future:

Keep probing, gently, until you fully understand their wants and needs.
Return calls as quickly as possible.
Reach out consistently to keep them abreast of the transaction’s process or see how they’re doing and if they have any questions or concerns.
Listen to your clients—really listen.
Let them know, in word and deed, that they are never alone during the transaction.

2. Keep them abreast of the latest local housing market news

Create a customized housing market news report template to send to former clients quarterly, semi-annually, or annually.

Homeowners love to know how their home is holding or not holding its value. Keep it simple to understand by using lots of visuals.

3. Just Listeds and Just Solds

Be alert for just listed or sold homes in your former clients’ neighborhoods. This is the perfect time to reconnect and show you’re keeping abreast of local real estate. You’ll find some brilliant Just Listed and Just Sold postcards right here.

4. Celebrate with them

Hopefully, you’ve kept track of important dates in your former clients’ lives. This includes birthdays and anniversaries (especially the anniversary of when they purchased their home).

Mark those dates to send a small gift to the former client’s office.

Why the office?

Ask anyone who has received a bouquet of flowers at work how many of their co-workers asked who they were from and what the occasion was.

Just think how much free word-of-mouth advertising you’ll get when your former client tells coworkers that the gift is from their real estate agent to celebrate the anniversary of their home purchase.

5. Send an updated CMA

Your past client reconnection efforts should include an annual CMA to keep them abreast of how their home stacks up regarding market value. They may not be considering selling, but they are most likely curious about their home’s market value.

Make sure you put this task in your CRM so you won’t forget about it.

Reconnecting with folks you’ve done business with is a tried-and-true referral generator.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct, response-driven articles written by real estate industry experts and engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you. Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 6-Month Done-For-You Strategic Marketing Plan

The Real Estate Marketing Planner is a powerful 6-Month Guide that strategically defines what marketing to do and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here 3. The Free Interactive 6-Month Real Estate Business Review

The Free Interactive 6-Month Real Estate Business Review allows you to enter your business goals for the remainder of the year and get a breakdown of how many prospects, listings, closings, and so on are needed to reach your goals. – Click Here 4. The Become a Listing Legend Free eBook

This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

Client for Life: Strategies to Transform First-Timers into Loyal Clients

Aug 21, 2024

The fact that 89% of homebuyers say they will use their agent again says a lot about the fantastic job real estate agents do with their clients.

Yet, only 12% of buyers used their former agent when buying another home (NAR).

Weird, isn’t it?

Something happens – or doesn’t – between the closing table and the time your client engages in another real estate transaction.

Let’s cure the disconnect between “first-timer” and “client-for-life.”

Former clients are “warm” contacts

Unlike picking up the phone for cold calling, a call to a former client is like calling a friend.

It is one of the more comfortable tasks in an agent’s business. If they hired you in the past, they clearly know, like, and trust you.

Your only job with these past clients, at least right now, is to remain top-of-mind with them.

Here’s just one reason why:

“Depending on which study you believe and what industry you’re in, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one,” claims Amy Gallo at Harvard Business Review.

Here’s another stat that you may find impressive, “Increasing customer retention rates by 5% increases profits by 25% to 95%”, Frederick F. Reichheld and Phil Schefter, Harvard Business School

The Holiday scheduled campaign is shown above. To learn more, Click Here.

Large and splashy or understated?

Reaching out to former clients doesn’t have to cost a lot or be overly extravagant.

A phone call, a postcard dropped in the mail, or a check-in on social media are all perfectly appropriate ways to get your name back in front of a past client.

Here are a few more inexpensive ways to reach out to former clients:

Put together a quarterly market update and direct mail it to former clients.
Keep in touch via a monthly or quarterly mailed newsletter.
Send out birthday, anniversary, and annual home anniversary postcards.
Include them in Just listed/Just sold postcards you’re mailing to announce transactions near your clients’ homes.
Take them out for coffee, cocktails, or lunch.

Naturally, a large and splashy “touch” would be more memorable. These include client appreciation events. The key to a successful client retention strategy is consistency.

The most important part of these conversations

The question used to be, “Who do you know that might be thinking of buying or selling a home?”

Today, the question is best when it’s narrowed down.

If you have read the book Guerrilla Marketing in 30 Days, you are familiar with this concept. In it, Jay Conrad Levinson suggests trying to narrow “… the universe of those you ask.”

Here’s an example:

Marcy is a former client who loves playing tennis. Instead of using the broad question, narrow it down to “Who do you play tennis with who might be thinking of buying or selling a home?”

Instead of combing through her mental database of everyone she knows, her mind turns to the tennis court and her conversations with fellow players.

Former clients most likely want your services when they buy or sell real estate.

Don’t let so much time go by that they forget your name. Reach out and stay in touch with them to stop leaving what should be easy money on the table.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

2. The Free 6-Month Done-For-You Strategic Marketing Plan

3. The Free Interactive 6-Month Real Estate Business Review

4. The Become a Listing Legend Free eBook

New Agent University: Keeping Your First-Time Buyer Motivated

May 8, 2024

Think of the home purchase process as a journey. I know, sometimes it feels like a never-ending one, but stick with me for a minute.

On any journey, we all look for signs: city names, arrows, freeway exits, and mile markers. These signs guide us as we travel. You, as the buyer’s agent, need to be your client’s sign during the purchase process.

Like all effective signs, you should convey clear, simple information and give it enough time for your client to provide a proper response.

In other words, don’t put the yield sign in the middle of the merge lane. Especially at the last minute. Give your client enough time to safely pull into an adjacent lane before the big semi-truck is on top of him.

Granted, the home purchase road is one full of potential potholes, but it’s up to you to keep your client from falling into one of them. Here are some considerations when guiding a client through a purchase.

The First Time Buyer Series is shown above. To learn more, Click Here.

Does the buyer have what it takes to keep going?

While many of today’s buyers are savvy about the market (thanks to all the media attention), and assume they have the stomach for the process, it may be a whole different story when your client is knee-deep in it.

Be honest with her about the things that may go wrong and how you will handle these issues if they come up. Don’t sugarcoat anything about the process. The last thing you want is for her to feel disillusioned after you’ve put time and effort into the deal. If she’s going to bail, then get her to bail upfront.

Communication is critical

Our goal as business owners is, overall, to build our businesses through repeat and referral clients. The client that refers you to her friends is one that was satisfied with your work.

The key to client satisfaction is communication. This is never more important than when working with a nervous first-time homebuyer. Not only do you want a client for life, but you want this particular deal to come to a successful conclusion.

Remember, you’re a signpost. Guide the client with clear communication every step of the way and she’ll get to her destination.

This is So Exciting!

While it’s tempting to think of yourself as keeping this buyer “on a hook,” it’s important to remember that she’s not a fish. She’s a person with hopes and dreams and the biggest of these right now is this house.

Excitement and enthusiasm are, thankfully, contagious. Get excited. Yes, this may not be your only client, but she may be your most frightened and frustrated. If you’re excited about her new house, she will be too. And excitement is a powerful motivator.

Keep her future-oriented. Where will she put the sofa? What color has she chosen for the living room?

Yes, you’re a new agent and learning the ropes as you go. Focus on your client, however, and before you know it, you’ll have more of them!

When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazin

2. The Free 6-Month Done-For-You Strategic Marketing Planner

3. The Free Online Real Estate Business Plan

The Real Estate Business Plan allows you to enter your business goals for the year and get a breakdown of how many prospects, listings, closings, and so on are needed to reach your financial goals. – Click Here

4. The Become a Listing Legend Free eBook

Post NAR Ruling: Why you Must Clearly Explain your Value to Buyer Clients

Apr 10, 2024

After you’ve finished counseling your potential real estate clients on what the whole NAR settlement thing means for them, it’s time to get busy convincing buyers that, yes, they do need an agent.

The best way to do this is to clearly communicate your value in every newsletter, on every postcard, social media share, and email.

Yes, it may require an overhaul of your entire business marketing plan, but you’ll reap the rewards when potential and new clients understand what you bring to the table.

Start with the initial buyer consultation

The buyer consultation is critical. It’s during this process that the buyer gets to know you and, hopefully, likes and trusts you as well. It’s a critical component of a successful relationship.

If you’re new to the world of real estate sales, here are some ideas:

Explain the changes brought about by the NAR settlement and how this may impact them as buyers.

Explain the mortgage process, in clear terms that consumers can understand.

Impress upon them the importance of obtaining mortgage pre-approval.

Learn what they’re looking for in a new home, size, age, location, and which aspects of the wish list they’re willing to compromise on.

Walk them through the post-accepted offer process. This includes inspections, appraisal, and how you will negotiate on their behalf if the need arises. Don’t forget to explain the loan estimate form and the closing disclosure from the lender. New agents can find information about both at consumerfinance.gov.

Explain the final walkthrough.

Closing: What it is and how it works.

Find out how often they expect to hear from you from the time escrow opens until closing. How do they prefer that you communicate with them? Email? Text? Telephone?

Create a buyers’ version of a listing presentation packet

You’ve most likely seen agent advice that extolls the “necessity” of coming up with a “unique value proposition (UVP).”

“Your value proposition is the unique benefit that you offer to your clients that sets you apart from other agents. It should answer the question: why should someone work with you instead of someone else?”

The only problem with this advice is that by and large, the American consumer is skeptical of self-promotion. This is reflected in the fact that, according to Global News Wire, “… 95% of customers read online reviews before buying a product.”

Instead of the overtly self-promoting UVP, why not use a glowing testimonial? In fact, create an entire page of them, or sprinkle them throughout your buyers’ packets.

What else to put in your buyers’ packets?

Your bio

A text version of all of the things you counseled them on during the oral consultation.

Remember, buyers are going to need negotiators in their corner when it comes to them having to pay a commission. If you have testimonials that highlight your negotiating skills, do include them.

Copies of some of the more important forms they will be asked to sign.

Yes, your industry is in a bit of turmoil right now, but if you get ahead of other agents in proving to homebuyers why they should hire you, you’ll be glad you didn’t get caught up in the whirlwind.

When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazin

2. The Free 6-Month Done-For-You Strategic Marketing Planner

3. The Free Online Real Estate Business Plan

4. The Become a Listing Legend Free eBook

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