It has been found that nearly three quarters of clients would use their agent again. However, according to a National Association of Agents study, repeat business accounted for under a quarter of transactions in 2012 for those in the business less than 16 years.
Most clients are happy with the service their agent provided. But because many agents fail to do a good job of staying in touch, these clients don’t use the same agent for their next transaction or refer them very much to friends and family.
The key, of course, is staying in touch and continuing to provide value over time. You need to have a system in place that easily keeps you “top of mind” with past clients, so whenever they need an Agent or are asked to recommend one, your name will come up.
This is where a real estate CRM comes in to play. With a good CRM, you’ll be able to keep in touch by sending out a professionally written and designed e-Newsletter, Just Listed and Just Sold e-Cards and e-Flyers, and take advantage of powerful drip marketing campaigns.
And if you’re new to real estate, you need to start using an Agent CRM right way. With IXACT Contact’s Rookie Agent Program™, new agents get their first six months of the software free.
Agents often forget that real estate is a relationships business. A database of well nurtured clients and prospects is the most valuable asset an Agent has.
You likely worked hard to get the client’s business. Keeping their business long-term is the easy part. And one client can bring you a lot of business down the road in the form of repeat transactions and referrals. So you need to ask yourself what you’re doing to retain the client and build a lasting relationship with them.
How much of your business comes from referrals or repeat transactions from past clients? Please let us know!