We decided to blog on this topic because when most businesses, or in the
case of this blog real estate sales professionals, think of investing in
relationships for life, they think of their clients. While this is the obvious
first conclusion, when it comes to how to generate revenue, there are many
aspects to a real estate transaction that lead to closing more deals. From the
point of acquiring the client, to negotiating the offer with the other side,
assisting your client with their home inspection, engaging a real estate
lawyer, obtain a mortgage, etc., these are all relationships.
· You
can have all the colleagues, suppliers and support in the world, but without customers,
you really have nothing at all.
· You
have all the customers in the world, but without strong relationships with
other real estate sales professionals (colleagues), suppliers and support, the
result is poor customer experience longer times to close deals.
· According
to Bain and Co., a 5% increase in customer
retention can increase a company’s profitability by 75%.
· Gartner
Group statistics tell us that 80% of your company’s future revenue will
come from just 20% of your existing customers.
So how do we build relationships for life? By being accessible,
competitive and providing a great service.
Being accessible means something different today than it did in the
past. Technology has forever changed the way we communicate and interact. In the
90s we called one another, in the 2000s we began to rely on email. Now, with
social media and text messaging, we can communicate en masse, stay connected to
those we like to communicate with, and leverage technology to expedite
processes which makes us that much more efficient.
Here are some tips for the real estate sales professional who wants to
build relationships for life:
Invest in your own efficiency – It is 2014. If you don’t have a tablet,
get one! This will give you the ability to do more on the go and provide more
information to your clients when you’re on the road.
Embrace technology – Whether you like it or not, technology is here to
stay. Look at a real estate app that will connect you to your colleagues,
suppliers, customers, etc. Make sure
that you choose one that provides other capabilities such as the ability to
show your clients listings when on the go, research neighbourhood demographics,
research a property, etc…
Get Social – Take the time to set up even a single social media
presence and get connected. Social media is a fast and effective way to
maintain relationships for life. Social media could mean a platform like
Facebook; if you are using an app or social platform to administer your deals,
chances are that it already has a component where you can connect, share and
engage with those directly in your industry. The little time it takes to upload
your contact list, and add new contacts as you meet them, is nothing compared
to the impact of them being constantly reminded of you and your service every
time you post an update or send out a message.
Sweat the Details – Remember the small stuff. Leveraging technology
that remembers birthdays, holidays and other important dates is another small
thing to show that you care. Remembering to say happy birthday to a client, a
favourite loan officer at a bank, or a referral source, is building towards a
relationship that can last for life.
Stay Relevant – This means posting and staying in touch. A good
example of this is, when you have a new client considering purchasing a
property and, you pre-configure your real estate tools to update you on new
listings that fit the predefined criteria to send off to clients. Consider
posting a weekly ‘hot listing’ on your Facebook page, or blogging about
industry subject matter that will establish you as a thought leader.
Your relationships matter, and it doesn’t take much to build and nourish
them. We hope that this blog has helped you to consider all of your
relationships and that our tips make it easier for you to build relationships
for life.
If you would like more information about a mobile real estate app for iPad that provides you with the ability to share listings, investigate properties or neighbourhoods, generate sales comps, sign electronic documents, connect and engage colleagues, clients, supplliers and more, please visit www.myvimo.ca
