Once a transaction has ended, your buyers walk away with a new home and you walk away with a commission check. The savviest brokers know that their relationship with the buyer is just beginning. With a good client retention program, you can get referral business from the client but also be in position to help him/her with her next house sale or purchase.
Client retention starts at the closing table. Being there to provide the client with good service at the sale – instead of just letting the closer or attorney handle it – lets them leave the transaction with a good taste in their mouths. A closing gift is also a traditional way to help seal the relationship after the closing. Instead of sending a gift basket or something that they might not need, consider sending a gift that they can use – like postcards that announce their move. That way, you’re helping them connect with family and friends.
After the sale and the gift, continuing to follow up remains important. Investing in customer relationship management software will help you keep your contacts organized. That way, you won’t forget who bought from you and who you need to stay in touch with. While some companies spend millions of dollars on CRM programs, many of the web-based systems that are inexpensive or free will be more than adequate for your real estate client retention initiative.
Having data in a CRM program isn’t enough, though. Social media marketing and print marketing are all important parts of keeping yourself on the tip of your former client’s lips. In addition to repeatedly getting your name in front of them, successful client retention requires sharing information that they find useful. This can include:
- Recommendations for vendors that can help them take care of their newly purchased houses.
- Updates on new trends in home decor, new technologies for home systems and other ways that they can keep their homes fresh, efficient and fun.
- Strategies for managing increasing property taxes.
- Information about the financing market so that they can either refinance into a lower rate loan or, if appropriate, pull out built-up equity with a cash-out refi, second mortgage or line of credit.
- Advance notice of new businesses or services coming to their neighborhoods.
The best pieces don’t just show your name and provide useful information, though. They also contain a “call to action” that lets the client know that you always appreciate referrals or that you are ready to help them if they are ready to move or to trade up.
Marketing isn’t enough either. One of the benefits of using CRM software is that it can also help you track how often you talk to your clients. Whether you call them on the phone, see them at a client holiday party or grab a cup of coffee or tea with them, face time is also an important part of your client retention efforts.
When you blend marketing, face time and follow up, you can create a powerful retention machine that allows you to get more business from referrals and spend less time hunting. Continuity Programs can’t meet with your clients or close deals for you, but we can help you create a comprehensive marketing program that can increase your client retention. Contact us to learn more about our services