While new clients are always a good thing, many agents and their brokers sorely underestimate one of their greatest: existing clients. Client retention is possibly one of the most important facets of commercial real estate —and of any sales profession for that matter.
WhyIn fact, the 2016 National Association of REALTORS Member Profile suggests that the typical REALTOR® earned 14 percent of their business from repeat clients and customers and 18 percent through referrals from past clients and customers.
Why let repeat and referral business slip through your fingertips? Here are a few ways that you can keep client relationships alive long after the sale.
Utilization of Social Media
Many people check their facebook pages and twitter feeds far more often than they look at their email, and this can be key for staying present in clients’ lives without being perceived as annoying. Keep the posts sensible, short, informational, and not too frequent, and you could have a wide audience of existing clients who are regularly aware of what’s happening in your business.
Maintaining your presence on social media will cement your presence in the lives of your clients. It’s a good idea to divide your clients into different sales buckets —buyers, sellers, investors, renters, etc.— and provide specific information to each group in order to maintain relevancy and usefulness.
Consider a Loyalty Program
Actually rewarding clients for staying with you is another great way to ensure that they continue to do so. Based on how long they’ve been working with you, consider offering exclusive information, access to events, and so forth, which may provide the extra incentive some clients need to continue doing business with you.
Along these same lines, you may consider developing ongoing content —perhaps in the form of newsletters, emails, eBooks, etc.— that can keep you top-of-mind as their go-to real estate professional.
Foster Personal Relationships with Clients
People are more likely to turn to you when they need a service you provide if they know you as a person they trust, rather than simply another agent. Try to encourage this sort of personal association with your clients, and you’ll find that your repeat and referral business with thrive.
Fostering a personal relationship can be as simple as meeting a past client for coffee, inviting them to a local event, or sending a personal email with some news or information you know will interest them. It’s less about being a salesperson and more about becoming a trusted advisor.
Organize Client Events
Targeted at specific groups, a client event is an excellent way to keep in touch with your clients in a way that they will remember. Be it a cook-out, a more traditional party, a themed event, or whatever great ideas you may come up with, client events are excellent for the purposes of staying in personal contact.
For more great ideas on building your client base, connect with our team at RealNex.