The average home turnover is about 11 years, with a range of six to 16 years, depending upon your state. Building relationships from the beginning with your younger clients is key. These are the clients who could be looking to move again in just a few years and also are surrounded by like-minded friends in similar circumstances. Cultivate your first-time home buying clientele after they are settled in to their home to make the most of their referral and repeat business potential.
Generally, the first home is purchased to end renting and to build some equity. The desire for a second home usually begins when the family starts to grow. The third home is usually the dream home. If you like repeat business and referrals, targeted and consistent communications to this young group is mandatory.
Since they average around 32 years of age, these clients crave information about caring for their biggest investment. Here are some easy ways to start fulfilling their needs:
-Take note of what they focus on when it comes to home upgrades. Send an email or give them a call and provide them with a trusted vendor of yours for the project.
-If you feel it’s appropriate, invite them to join you on your favorite social network. This is a great way to get to know them better and get referrals, too.
-Email them when a larger home in their neighborhood lists or has sold. Not only will they be interested, you may spark a discussion about moving up—or garner a referral.
-Invite them to subscribe to your emails, newsletters, blog or articles on your website that discuss homeownership, maintenance, remodeling or other related topics.
We could come up with enough tactics to fill this magazine, but the point is for you to develop your own and adjust them as necessary. Keep meticulous notes on each family because the more you personalize your communications, the more effective they will be.
HWA helps maintain the agent/homeowner relationship by offering a free client-contact program for agents with pre-designed articles and e-postcards on greening the home, home maintenance and more. Begin building your own plan at www.hwaHomeWarranty.com.
Monica O’Neill is marketing manager for Home Warranty of America.
