RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
RISMedia
No Result
View All Result

Why Building Lifetime Engagement is Critical for Your Real Estate Business

Home Agents
By Niraj Patel
May 27, 2021
Reading Time: 2 mins read
Why Building Lifetime Engagement is Critical for Your Real Estate Business

Happy couple talking with sales manager at the store

You may have heard the often-cited National Association of REALTORS® (NAR) statistic that 90% of homeowners would use their real estate agent again, but only 12% actually do. What you may not know is the reason behind it.

According to Chris Stuart, president of PLACE, Inc., the real estate industry spends more on customer acquisition than any other industry but doesn’t invest the same amount in customer retention. The numbers back him up, with companies like Southwest and Marriott spending less than 3% of their marketing budget on customer acquisition, while the real estate industry spends a whopping 20% of its marketing dollars to add customers, only to lose them as they leave the closing table.

Of course, retention in real estate is made more difficult by the fact that the average time between real estate transactions is five to seven years, not just a few weeks or months as it would be for retail or travel companies.

Looking at other industries that focus more on customer retention, they do so not by offering a host of random services, but by creating a customer experience that brings people back over and over. With that in mind, here is a tactical approach that will allow you to prove your value month after month—for years to come.

Pre-Move
The experience should begin pre-move, where the agent and the brokerage provide end-to-end services including mortgage, insurance, closing, home warranty and moving concierge.

Post-Move
While the pre-move services help solidify your role as a market expert, they still “wow” the client only in the short term. But there are a few things to consider in order to continue being sought out as an expert:

  • Content Creation
    Create relevant content—blog posts, social media content, mailers and infographics that inform and educate your clients on various aspects of homeownership, helping them maximize the value of their investment. In addition to blog post content, create small handouts or articles on different home improvement or maintenance projects.
  • Initiate Timely Reminders and Savings
    Your content calendar shouldn’t just include blogs. Reach out with reminders about tax deductions, refinancing opportunities and other ways to save money or optimize the value of their investment. When clients believe you have their best interest at heart, they’ll be more likely to respond to your message.
  • Leverage Local Resources
    Create an in-house concierge who can help connect clients with trusted local vendors and service providers. This complements your home improvement content. They could also connect the same client with your moving concierge to help them with utility deals a few years after they move.

Remember that every touchpoint should leave your client feeling better off for having spent some time talking with you or engaging with your content.

MoveEasy works with the country’s leading brands and brokerages to create a lifetime consumer engagement platform that keeps you top of mind by combining moving and home management into a one-stop shop for client services.

Niraj Patel is co-founder and COO of MoveEasy. For more information, please visit www.moveeasy.com/realestate.

Tags: Business PlanningBuyingConsumer RetentionMoveEasyMovingReal EstatesellingSuccess Tips
ShareTweetShare
Susanne Dwyer

Susanne Dwyer

Related Posts

Creative Marketing Ideas to Move Your Listings Faster
Best Practices

Creative Marketing Ideas to Move Your Listings Faster

July 2, 2022
The July Issue of Real Estate Magazine Is Now Live
Agents

The July Issue of Real Estate Magazine Is Now Live

July 1, 2022
First Guaranty Mortgage Corp. Tacks on Massive Layoffs With Bankruptcy Filing
Agents

First Guaranty Mortgage Corp. Tacks on Massive Layoffs With Bankruptcy Filing

July 1, 2022
Pandemic-Fueled, ‘Astonishing’ Cost-Burden Turnaround
Agents

Pandemic-Fueled, ‘Astonishing’ Cost-Burden Turnaround

July 1, 2022
Florida, South Top Inflated Rental Markets
Agents

Florida, South Top Inflated Rental Markets

July 1, 2022
For-Sale Home Supply Grows Faster Than Ever as New Seller Activity Rebounds
Agents

For-Sale Home Supply Grows Faster Than Ever as New Seller Activity Rebounds

July 1, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

Break a Leg: How Acting Techniques Can Enhance Your Pitch

Authenticity, emotion and empathy are all a big part of a successful client presentation, and actors have the answers. Read more.

Business Tip of the Day provided by
REGISTER NOW

Recent Posts

  • Creative Marketing Ideas to Move Your Listings Faster
  • The July Issue of Real Estate Magazine Is Now Live
  • First Guaranty Mortgage Corp. Tacks on Massive Layoffs With Bankruptcy Filing

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.