Twenty years ago, real estate agents were the gatekeepers of real estate data. Homebuyers had no other option than to engage a real estate agent to get available listings for sale. The agent would pull out a printed MLS book and begin researching information. Repeat business was easy. You were certain to get a call when they wanted to list or buy again.
Why Are Referrals So Hard?
First, agents are notoriously poor at keeping in touch with past clients. Keeping in touch with past clients is harder than it sounds. The difficulty is not in drafting emails or making phone calls, but doing so in a way that’s valuable to clients. The goal is to send information to past clients that meets their interest at the moment their curiosity is piqued.
What most agents don’t consider is the value they can bring to their clients long after the deal is done by doing what they do best: being a trusted advisor in their local market. No one knows the local market better than the real estate professionals that serve it.
During a real estate transaction, homebuyers turn to their agent for recommendations for lenders, home inspectors and insurance agents because those are the professionals needed to get the deal done quickly. The agent’s trusted network jumps into action with speed and expertise.
But what about the professionals needed to repair, paint and/or simply care for their home after they’ve moved in?
Become a Homeownership Expert for Your Clients
Homeowners can go to HomeAdvisor or Angi to find a pro. If you’ve tried this yourself, you know what a horrible experience it can be. Those services push the consumer request out randomly or by advertising dollar.
The big opportunity here is for real estate agents to reengage their trusted network to get the client the same high-quality service they received when they purchased the home.
A personal referral from a real estate professional is more valuable and can reinforce the relationship established during the home sale. Agents can start by creating a directory of vetted professionals including details of services offered and any specials their network may be willing to pass onto clients. Many agents create these lists and include them at the closing and/or publish them on their website. Making the effort to share this information is a great way to stay connected with contacts in a manner they’ll value.
By making yourself available as a homeownership expert, you will not only keep your clients for life, but you’re likely to generate seven additional sales and referrals from each customer. Grow your business the smart way. If you need help, visit MooveGuru.com for more guidance on this strategy.
Kathleen Kuhn is the EVP of Strategy at MooveGuru and has spent the last 30 years in the real estate and home inspection industries.
