Did you know that only 12% of recent consumers used an agent that they had worked with in the past to buy or sell a home last year? Yep, and that’s a number that hasn’t changed much within the National Association of REALTORS® annual Profile of Home Buyers and Sellers.
I know—pretty shocking stuff and not to lead with a downer, but we felt it was our duty to explore why this percentage is so low. Sometimes past clients just move out of state, but oftentimes a little TLC and effective communication could’ve saved the day.
Here are 3 reasons they leave and how to stop them.
Reason #1—they feel neglected (aww)
According to a study by The Rockefeller Corporation, 68% of clients leave because they believe you don’t care about them. This isn’t a huge shocker. Like any relationship, if one feels the other doesn’t care, eventually they’ll get to steppin’.
What you can do: The good news—if you stay in touch, you stay top of mind. Provide value by sending a quarterly report that tells them how their biggest investment is performing, or pick up the phone just to say hey.
Reason #2—they weren’t 100% satisfied and you didn’t hear a peep about it
You want to know when your clients are ticked off. Angry clients may skulk away silently in the night, but you can bet your bottom dollar they'll tell all their friends about it, and with social media allowing them to reach large audiences in one fell swoop, they’ll diss you there too.
What you can do: Ask for feedback at the end of the transaction. And when working with them, use your spidey senses to detect when your clients aren't happy. Addressing it immediately will build trust and respect.
Reason #3—they don't need your services anymore
You worked hard to build the relationship, so don't let it go just because you know they won't need you for a while. Repeat and referral business is the bread and butter in real estate. It’s crucial to communicate with clients post-closing.
What you can do: Check out this super easy and effective method that Leah Goldstein uses to keep her repeat and referral business thriving. And sharing helpful content with your clients, like this snazzy checklist for new homeowners, will showcase your expertise and provide value (win-win).
Want to keep these 3 reasons near & dear to your ❤? Download this infographic:
And here are a few ways to effortlessly stay in touch using Top Producer® CRM
Whether you use these tips or not, just make sure you stay in touch. Seriously.
Reach out to 5 clients a day (or 2 or 3... heck even 1 will make a difference)
As a real estate pro, it’s imperative to dedicate time to lead-generating activities like emailing or calling previous clients for possible referrals to grow your business.
And with the Follow-up Coach in Top Producer® CRM, you’re in luck! The tool will hand pick 5 clients a day you should reach out to. With the super quick follow-up options—including pre-written email templates—you can crush a couple during a slow open house or while standing in line for coffee.
Show 'em some love and call them a few times a year
Whether you remember their special days, take them out to lunch, or just call to see how they're doing, reaching out a few times a year will pay off. And with our automatic Wrap up feature in Top Producer CRM, you won't have to think about anything (except where to go for lunch). Immediately after you reach out, we'll prompt you to schedule the next follow-up and record a note or two.
Send them relevant info and position yourself as the neighborhood expert
If you use Market Snapshot, you're off to the races. Snapshots once or twice a year and sold listing alerts work great for staying in touch with past clients, while snapshots every 2-4 weeks and new listing & price change alerts will wow your leads.
In the end it all comes down to communication, and with a little help from your CRM, you'll be the master in no time.
Need a few pointers on how to get started or make the most of Top Producer® CRM? Give us a call at 1-888-530-9666. We’re here to help!
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