This post originally appeared on tBL Marketplace Partner's ProspectNow Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
Building long lasting relationships with your clients is one of the most important skills a real estate agent or broker can have. Many business analysts agree that it is often several times more expensive to attract new clients than it is to retain existing clients.
Fortunately, there are a few tried and true strategies that real estate professionals can use in order to maximize their client retention and develop long-term relationships. Here are just a few:
#1. Drip Marketing Campaigns – Drip marketing campaigns involve a series of automated emails that are sent out on a schedule. Keeping yourself and your business fresh in a contact’s mind can go a long way towards retaining their business and making them feel as though they are remembered.
#2. Personal Touches – Each client is unique, so if you can add a personal touch to a correspondence it can go a long way towards fostering a long-term relationship. Take the time to learn your clients’ preferences and adjust your strategy to work with their likes, dislikes, and potential concerns.
#3. Periodic Updates – It has often been said that there is no such thing as over communicating, and this is definitely true when it comes to long-term client relationship building. While you are moving through the real estate process, providing them with a steady stream of updates can leave them feeling involved and organized. A client that is well taken care of is more likely to return to you for help with their next real estate opportunity.
#4. Honesty – It is best to always be honest and transparent with your clients. A savvy client will know if you are trying to manipulate them and they will choose to take their business elsewhere.
#5. Providing Valuable or Interesting Information – Be sure to keep an open line of communication during and after working with a client. If you find a piece of information that may be useful or interesting to the client, do not hesitate to share it with them – even if it does not have an immediate benefit for you. The idea here is to reach out even when it’s not specifically to move along a transaction or to earn business.
#6. Rewarding Loyalty – It is easy to become focused on gaining new clients rather than retaining previous clients, but rewarding long term loyalty can be a great way to keep satisfied customers coming back for more. In real estate, this may mean thanking a client for their referral with a gift card or grabbing a casual coffee, just because.
#7. Form a Partnership – All of these things can work together to help you and your client form a partnership. When you have worked together for a long time, you will both work to help the other be successful. If your client owns a bakery, maybe you use them for your next open house. If they are a doctor or lawyer, maybe you add them to your list of service providers that you give to new residents.
These are just a few of the ways that you can build long-term relationships with your clients. What tips and tricks would you add to the list? Be sure to share your thoughts with us on Facebook.