You likely already know why you need to keep in touch with past real estate clients; they’re great sources of referrals and can bring repeat business to you year after year. And remember, it takes five times less time and money to retain an existing client then to go out and find a new one.
But think about all of your past real estate clients. It’s probable that a small percentage (perhaps 20%) of these clients give you most (80% or more) of your referrals and repeat business. This is an example of Parato’s Principle; the so-called “80-20” rule.
How well you keep in touch and build relationships with the past clients in your real estate contact management system will have a direct impact on the amount of new business you get.
Keeping in touch with clients is instrumental to building loyalty. If you’re not doing a good job of it, you risk losing your past clients to a competitor and having all that hard work you did to acquire them in the first place go down the drain.
Ways to keep in touch with past real estate clients:
1. Arrange home visits at least once a year where you can stop by and say hi. Holidays are a fantastic excuse for visiting.
2. Set your real estate contact management system to remind you when birthdays arise and send your clients a card with a personal handwritten message on their birth date. You can also do this for your clients’ home purchase anniversary date.
3. Treat them to lunch.
4. Invite them to a home-expert seminar and/or a client appreciation event.
5. Call to say hello and see if they need any recommendations on a reputable home professional.
6. Send them a Thank You card or something special in the mail.
7. Send them a monthly e-Newsletter.
8. Set them up on a drip marketing campaign.
Make sure you’re letting your past real estate clients, and especially your “A-Listers,” know that you value your relationship with them and you appreciate their support. Your real estate contact management system makes it easy for you to keep in touch properly (it’ll even automate a lot for you) so you can benefit from those referrals and that repeat business.