Real Estate Marketing; The Profitability Of Past Clients

Many real estate agents spend a lot of time and money

marketing new prospects, while completely overlooking the

best ones they have; old ones. We all realize the importance

of acquiring new clients, but how many of us truly grasp the

importance of not only retaining old ones, but actually

expanding on those relationships?



The cost of acquiring new customers is escalating, no matter

the industry; real estate, mortgage financing, land

development, etc. On the other hand, marketing to past

customers is less expensive and is at least as profitable.



Consider this; the average home owner is likely to purchase

and/or sell 4-5 houses in their life time. So, if you sell

them one property why not establish them as life time

customers and assist in the buying and selling of the

others.



For the most part each time they buy or sell they step up in

price range and affordability, excepting of course perhaps

their last and final transaction - a retirement home.



So, why are former clients so overlooked? Personally, it was

because I was driven to close on the next deal and knew that

it would be years before a closed client would be ready to

sell. However, my rational was very short sighted!



Typically, closed clients are happy with you and your

services, so there is a greater chance that they will come

back to you for future transactions - if you give them

reasons to. Also, they are usually eager to refer

colleagues, relatives, co-workers, and friends to you.

There's almost no end to the number of referrals a satisfied

customer will give.



So, a mind shift to building long term relationships with

"closed" buyers/sellers is in order. Instead of abandoning

clients after a sale continue nurturing the relationships by

maintaining routine and ongoing contact with them, which

will help you to protect them from your competitors.

Remember, if you're not taking care of them somebody else

is.



Keeping in contact and maintaining relationships with

"closed clients" is really kind of easy. You could call just

to say "hi" every other month and drop them something in the

mail in the off months.



It could be as simple as a post card, an anniversary card

celebrating the date of their closing on their house, a

letter recognizing the graduation of their son from high

school, or daughter moving on to the first grade.



It doesn't have to be expensive, just personal!



Safeguard your relationships with past clients by continuing

to nurture relations with them. When you continue to show

them love and how much you appreciate them they'll continue

to show you the same.



Have you had the unpleasant experience yet of a past client

transacting a real estate deal with another agent? I have

and it hurts! I felt abandoned and betrayed - yep, it was

that personal.



However, in truth it was I who had abandoned them. That's

when I smartened up and made the mind shift to building long

term relationships with my "closed" and existing clients.



So, the moral of this story is take care of your clients by

letting them know how important they are and they'll

continue showing how much they care about you, too; all the

way to the bank...again and again and again!