You have finally found your buyers the perfect house and ultimately, the deal is done after having proper inspection and appraisal. Lastly, you have successfully handed over the keys of new front door to your buyers and they have offered you to attend their housewarming party. Everything has been done smoothly but what is left is post sales marketing which is the next phase of your business but mostly agents neglect this area. In order to stay on top of the mind with your past clients, what steps should a real estate agent execute after wrapping up a deal?
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Client Follow Up is not only the easiest strategy but it also possesses the ability to bring cut through results. This is because agents do not find enough time to do it. According to the Marketing Donut a resource platform for marketing professionals and small firms, which is strengthened by the knowledge of Donut's 120-plus experts; revealed that 44% of sales people give up after first follow up. It is also revealed by experts that 80% of sales should be supported by at least five follow-up phone calls after the first meeting. Once you are able to master the art of follow up you will be all good to win yourself more business and become a master of real estate.
The art of post sales follow up is all about development, steadiness and clear mode of communication. According to recent National Association of Realtors (NAR) Profile of Home Buyers and Sellers, it is stated that 89% of the recent home sellers worked with a real estate agent for selling their home. It is further supported by statistics that 88% of current home buyers took services from a real estate agent for doing their home purchase transaction. There is a striking difference observed from statistics that very satisfied buyers are ready to take services from another agent when they are initiating their new transaction. Now how can we interpret it in numbers? More than 60% of the buyers are very satisfied still they are not going back to their old real estate agents, only 25% of sellers or buyers work with an agent with whom they have previously worked with. What’s the underlying reason that sellers and even buyers are not coming back to the same real estate agent despite being satisfied?
Once the transaction is complete they take money for their services and attain an impression that the person has spent all the money they had, so they prefer moving on! What should be done at this stage was to start with repeat and referral process in order to stay on top of mind with their past clients and to have a successful post sales follow up process:
- Give them a one-to-one follow-up call immediately after the sale, one week after the sale or even one-month after the sale.
- Do keep sending them some updates, educational stuff about real estate or have a regular
- Provide them value by giving them invitations for special community events which they might find valuable.
- Share thank you gift to your buyers, sellers or vendors, although it is a small gesture it will bring a lot of difference in maintaining a long-term
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About Bob SenelConsultant and trainer, retired general contractor from 1983 to 2012, founder of multiple inspection companies; residential, commercial and industrial inspector from 1978 to the present, California representative for IESO (Indoor Environmental Standards Association), founder of Mold in California and GAPIC (Global Association of Professional Inspectors and Contractors). Affiliations: CCC, CCI, CCPM, ICBO, IESO, CRMI, RMP, GAPIC.
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