Successful real estate agents understand the importance of nurturing their real estate database. Afterall, your database should consist of clients who have already partnered with you on a successful transaction in the past, and who are potentially more likely to work with you again in the future. According to a recent article on REALTOR.com, the cost of obtaining a new client is “substantially more” than the cost of retaining one that you already have, so making sure you continue to grow relationships with your past clients is imperative to being a successful real estate agent.
Statistically speaking, your average person relocates to a new home every seven years, which means that every client whom you’ve worked with in the past will, statistically speaking, need your help again in the future. So, what can you do to ensure that your clients not only remember you, but are more than eager to partner with you on their new home sale or purchase? Let’s take a look at four different strategies agents can use to help nurture their real estate database and increase the probability of securing repeat business.
Real estate database tip: Send them a handwritten note
Your average person doesn’t typically look forward to sorting through their mail. We all receive so much junk mail these days that anything other than that often stands out (and is opened first). Providing your real estate database with handwritten notes is a great way to be more memorable. If you want to stand out from every other professional your clients do business with, sending a personalized letter is a great way to do so. Not only will they read every word of that letter, but they will typically reach out to you to thank you for the note. This open dialogue can sometimes be an opportunity to provide them with valuable information about their particular real estate market and may even prompt a discussion or two that could lead to a future sale.
Real estate database tip: pick up the phone
When was the last time you got a phone call from someone just checking up on you? You may often receive calls like that from family and friends, but the expectation of receiving such a call from your real estate agent isn’t something people immediately think of when they think of pleasant conversations on the phone. According to the article, there’s a simple acronym you can remember to help cover all your bases. F.O.R.D. stands for Family, Occupation, Recreation, and Dreams, and is a great way to stay up-to-date on the lives of your past clients. By regularly reaching out to your real estate database via phone, you accomplish two things:
- You immediately bring your services top of mind, so if your clients are in need of a real estate agent (or know someone else who might be), a referral is more likely;
- You begin to build a more friendly rapport with them that will begin to blur the line between business contact and friend, which will ultimately bode well in the event they’re currently looking for advice from a knowledgeable real estate agent.
Maybe they’re looking to sell their home, or buy a new one? Maybe they’re looking to purchase a second home, or are thinking about a purchase as an investment opportunity? Either way, your phone call will help prompt that discussion and may lead to future business.
Real estate database tip: help educate your former clients
If you’re a homeowner, staying on top of the latest real estate trends in your market is important. The more you can help educate your clients on these trends, and provide them with valuable advice, the more likely they’ll be to immediately contact you when they’re in need of a real estate agent. Remember, it’s important to help establish yourself as an authority in their respective real estate market. The more authoritative and knowledgeable you can paint yourself, the better off your referral network will be.
Real estate database tip: don’t be afraid to ask for referrals
This one is pretty simple. You’ll never know whether or not your past clients currently have a real estate referral in mind unless you ask them. The important thing here though is to not be overly pushy or salesy, or make your clients feel as though you’re only interested in what they can provide you with. Instead, direct the conversation to a place where asking for a referral feels more natural and doesn’t put as much pressure on your former clients to provide you with viable leads. Referrals from past clients are a great way to grow your business, so don’t forget to ask!
For more information, visit https://www.colibrirealestate.com.
