How To Retain Your Real Estate Clients Effectively?

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Published date: Jul 14, 2022
Updated: Jul 14, 2022 by Attila Szabo
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flipping od wooden cube block

The professional practice of the real estate business as a genuine magician is like being in a relationship. In the beginning, you may be lucky and dazzle your soulmate with your looks and expertise. As a result, you get to close the deal. Then, it’s official: you’re together. But for how long? An excellent suitor and skilled ‘hunter’ can conquer the target person easily. However, it takes an absolute master to keep the other engaged “till death do them part’. And for a long-time engagement, you need to develop breath-taking real estate marketing ideas.

Short-term success vs. long-haul perspectives

Many expert local real estate agents believe that negotiating and sealing the deal with one or more clients equals the ultimate success. You can score great home runs in the short run, keeping up with this strategy. Still, you’ll realize that reality and obtaining a certified victory couldn’t be further from your assumptions.

We’re talking about efficiently retaining your real estate clients in the long run. In our opinion, this is what marks the ultimate indication of a successful business person. In this article, we’ll detail how to get more real estate customers and cater to them so that they’ll keep coming back for more. Let’s examine the art of retention!

Why is it essential for you to keep your real estate clients?

The drill is straightforward: you work with first-time homebuyers and retain them, perhaps as referrals. Suppose you’re really outstanding at your job and give customers a helping hand, hopelessly entangled in the miscellaneous labyrinth of real estate finances. Customers new to real estate transactions will most definitely appreciate you enlightening them about valuable financial ideas, such as tax breaks. With your assistance, they can dodge the bullets of false expectations when buying a home. And that’s merely the tip of the iceberg.

You can build a solid relationship by providing your clients with valuable resources, financial tips, and tricks. Also, you can lay the foundations for future work together!.

Have your clients’ best interests in mind

woman thinking hard about choosing a home

You work hard for your clients, and they come back to you. Did you know that approximately 61 percent of new customers select new housing agents or brokers based on others’ recommendations? Also, the price of getting a new customer is around 25 times higher than working with an already existing one?

This intro was meant to underline the significance of realtors doing their jobs flawlessly for the first time. After you put effort into getting your clients to sign the papers, it will be more effortless to hang onto them. This scenario applies if you are willing to go the extra mile to convince your former clients to stay with you.

Ideally, it would be best to strive to retain each of your clients. Let’s examine some brand new and mind-blowing real estate strategies you can implement to keep your clients.

Develop the scope of your services!

Many real estate agents seem to not pay attention to providing their customers with an exhausting list of their services. The gist is building your brand. A good brand starts with compiling a spot-on real estate bio. Your former clients will come back to you, starting from the most trivial things. For example, they need a handyperson to carry out steadfast home renovations. Who will they call? It might be you because they know you have an extensive list of contractors. Or, they’ll seek you out if they need trustworthy financial advice. Let’s go one step further!

Suppose they wish to expand their investment portfolio. Past customers may entertain the idea of buying an affordable vacation home. Thirdly, a relative or friend searches desperately to find a cheap rental in the city. And that’s when you enter the picture. Since you provided them with a complete inventory of assistance in various fields, there’s a good chance they’ll return to you for another round. To get your former customers engaged, you can send them emails, notifications, and messages covering all your expertise plus an entirely new set of services. Thus, your customers won’t go anywhere else! Why would they? With your knowledge, they can have it all laid out before them.

Work on niche specialization!

smiling young middle eastern man

Actually, niche specialization should be the next logical and progressive step in your career as a top-tier real estate agent. The most profitable real estate niches cover a particular type of clientele with well-defined housing demands. Accordingly, they require a refined style to approach them. Whether you’re trying to sell to empty nesters or buyers interested in a green home, we must outline an effective strategy. Besides, it would help if you were on the top of your game regarding the latest achievements and updates on the market.

For this reason, we recommend you inform yourself from various reliable sources, such as RealEstateAgent.org, HousingWire, and Realtor.com. Additionally, you must follow recently updated listings and local housing market trends meticulously! Specializing in niches doesn’t come overnight. It takes years of practice. Nonetheless, you can become the incontestable authority once you conquer a niche’s confidence! 

Be the first person to contact clients!

Do you feel your relationship has estranged? Don’t wait till your former client contacts you! Fat chances that’ll happen. Instead, you can call, message, or send an email or postcard first. Abandoning the most valuable clients would be a mistake.

Once you pick up where you left off, you might not want to pitch the idea of selling a property right off the bat. First, you can nurture your friendship. For instance, congratulate your former customer on an extraordinary occasion. You can “keep tabs” (without the creep-out factor) on clients’ special anniversaries, weddings, birthdays, etc.

Adding a personal touch to your business expertise will go a long way. Former clients will most assuredly appreciate the kind-hearted gesture. Besides, you can remind them of your new services and revolutionary investment opportunities in their neighborhood.

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Reach out on social media platforms!

reach out social media platform connected

Keep in touch and follow former clients on the trendiest social media platforms! Social interactions on the Internet might seem less intimate than throwing them a party and gifting your best clients (if you want to go the extra mile.) Still, we consider this “prelude” highly efficient.

Everyone subscribes to the idea that social media is a must-have for experienced war horses. First of all, a reach-out on Instagram, Facebook, Twitter, and sometimes TikTok still counts as a friendly gesture. On the other hand, ex-customers can track your online activity. Thus, they’ll get exposure to new listings, investment opportunities, and new services you provide. 

Request their feedback and focus on client experience!

Asking for feedback is a terrific idea for various reasons. People love sharing their opinions on services. After a negotiation goes through, reaching out to a former buyer or seller and asking for their opinion could reignite their interest in your services. In addition, feedback and testimonials will serve to underline your unquestionable authority in real estate.

And, let’s not forget that you can improve your selling skills! If you manage to get their consent to publish their impressions of your services is even better. We don’t have to remind you how many fresh clients go straight to the Testimonials section on a website.  

Provide them with alternative revenue sources

display new revenue stream

Everybody wants to ease their financial burdens. Consequently, your former clients will appreciate pitching them a (certified and exclusive) tip as a novelty. People know that real estate investments bring in a big buck. First and foremost, buyers and sellers are aware of this. Still, happy homeowners can be “seduced” by a new property to purchase on the horizon.

They can find hidden real estate gems in the area. For instance, warehouses are non-traditional investments. Still, they can bring substantial revenue to their owners. The proprietor can rent them out or use them as wholesale real estate, in which case they’d be flipping houses. We’re mainly discussing investing in a turnaround property in these two cases.

In the first step, you should look into the current owner’s identity or if the building has been registered in an auction. Then, convince your former client about this unique investment possibility. With an insignificant amount of money spent on renovation expenses, they can re-sell it in next to no time. Who would deny that house-flipping is still hot?

Then, they can invest in a second home. The potential of a second home is limitless; your clients can rent them out as Airbnbs, log cabins, or vacation rentals. An eagle eye can spot every real estate chance and market it efficiently.

Enticing them with a unique incentive program

conceptual display referral program

Did you know that your former clients can get you new customers? You have to set up a system with well-defined guidelines. Besides, you should decide on the form of compensation you’re willing to provide your ‘referral agents’ with (in our case, your former clients.) You might want to look into presenting them with gift cards or thank you gifts. In fact, referrals mean recommendations of your services to potential new buyers or sellers that end up in closings. Consequently, you provide your ex-clients with a friendly token as a sign of your appreciation.

Conclusion

Suppose you desire to prove yourself as a top real estate agent. In that case, you simply can’t focus on acquiring new clients every time you wish to sell a house. Retaining former customers is a cheaper and more efficient way to do so. However, not fading away from people’s memory requires innovative approaches.

So why don’t you benefit from the everyday blessings of online marketing? Why should you stop there? Have you heard offline marketing still puts up a fight? Those rushing to bury it were pretty wrong. Likewise, don’t fall into the trap of underestimating your past clients’ potential! By all means, they can help you establish a reputation locally and in the broader region.

With extra effort, personal touch, and peppered with creative ideas, you can genuinely build a real estate empire.

Did you manage to retain some of your clients using these methods? Would you add an extra ingredient? The floor is open to discussion! Please like and share this article on your social media profiles if you have found these strategies helpful! We’re available for your suggestions and questions in the comment section below.

 

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