Are you having trouble with real estate customer retention?
Stats show that 70% of sellers would definitely use the same real estate agent, and that 73% of buyers feel the same way. So why do only 25% of people work with the agent they used previously to buy or sell a house? In this post, we look at what real estate agents can do to increase retention rates for buyers and sellers.
The problem is that the average person moves once every seven years, making it easy to lose long-term customers. So what are a few things we can do in order to make sure that the real estate agent and client relationship stays strong? Below are the top five strategies to use.
5 Strategies for Real Estate Customer Retention
Say Thank You
It’s important for you to show gratitude to your client after closing a deal. Write them a thank you card and even add a housewarming gift to show your appreciation.
Some real estate agents go even further and throw the client a house warming party, which is a great opportunity to meet more potential clients. Whatever you end up doing, make sure that the client knows how much they mean to your business.
Stay In Touch
It may seem daunting to stay in touch with all of your customers, but make an effort to try, because it really is worth it.
Keep track of important dates, such as birthdays, anniversaries and holidays. A good way to do this would be to keep a virtual calendar, that way you don’t forget! Recognize these important occasions with hand written notes, or a 5 to 10 minute phone call. These follow up tactics will make the client appreciate the time you took to check in.
Be A Resource
Being a resource for your client is a great way to further develop trust and prove that you really care. Provide recommended contractors, plumbers, electricians, painters, landscapers or any other professionals they may need for their new home.
Another way you can be a resource is to monitor their home’s value and their community. Notify the client of any market changes or of any local changes. Local changes could include new restaurants or businesses, road development, and any festivities in the area.
Blog to Inform and Engage the Customer
A blog can be used to continue the relationship between you and the client. Posting blogs can not only inform them, but it can also show them how much of an expert you are on topics in your industry. Show off your knowledge and experience in some of your posts.
Posting regularly about relevant content will also attract clients. This is important because it will re-engage the customer with your service and keep them informed. Include blogs such as local activities for kids, home renovation ideas, and “how to’s” for selling or buying a home.
Local, educational and interesting posts will have your clients coming back for more, so make sure you keep your posting continuous. Blogging can add value to the customers life outside of the service itself, making it a fantastic way to ensure the customer stays interested.
Take Feedback, Learn From It
This tool will help your customer retention in the long run. Understand how your customers really feel about your service by having them fill out a survey or a questionnaire. You should construct it so that the customer can give you both positive and negative feedback. Take the positives as motivation to continue those aspects of your service and take the negatives as tips to creating a stronger, more flawless service.
Through the usage of a questionnaire or a survey, you will be able to identify what may be causing your customers unhappiness. Fixing these problems will not only help the customer who was unhappy, but it will also ensure that these problems won’t happen again in the future. Increased customer satisfaction will lead to increased customer retention.