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Successful real estate agents understand the importance of nurturing their real estate database.
Identify clients for your database who have had successful transactions with you in the past. These clients are more likely to partner with you again in the future. An article on REALTOR.com recently revealed that acquiring a new client is substantially more expensive than retaining an existing one. Therefore, it is essential for real estate agents to nurture their relationships with past clients in order to be successful.
Statistically, people move to a new home every seven years. This means that, on average, your past clients will need your help again in the future.
To ensure your clients remember you and are eager to partner with you, there are several steps you can take. First, make sure you provide them with excellent customer service. Second, keep your clients informed throughout the home sale or purchase process. Third, stay in touch with your clients after the transaction is complete.
Let’s consider four strategies for agents to nurture their real estate database. This will increase the likelihood 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.
Send a personalized letter to stand out from other professionals your clients do business with. This is a great way to make an impression.
They will read every word of that letter. They will also usually thank you for the note. Open dialogue can provide valuable information about the real estate market. It may also spark a discussion that could result in a 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 get calls from family and friends. However, it is not common to expect such a call from your real estate agent. This is not typically associated with pleasant phone conversations.
According to the article, there’s a simple acronym you can remember to help cover all your bases. F.O.R.D. is an acronym for Family, Occupation, Recreation, and Dreams. It can help you stay current on what is happening in the lives of your past clients. By regularly reaching out to your real estate database via phone, you accomplish two things:
Bring your services to the forefront of your clients’ minds. This increases the chances of referrals, if they need a real estate agent or know someone who does.
Build a more friendly rapport with them. This will blur the line between business contact and friend. This will benefit you if they are 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 lasting 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!
Launch Your Career with Colibri Real Estate
Ready to take your real estate career to the next level? Nurturing your database is incredibly important, but continuing to build on your knowledge is also imperative. Get started with our online courses to prepare for your license exams, upgrade your license, or enhance your skill set. Colibri Real Estate has helped hundreds of thousands of real estate agents and brokers throughout the country. Contact our team today to learn more.