– Crystal Vagnier – Select Group – Writer/Editor
Nobody likes to lose their favorite client to another real estate agent. While it’s important to generate new leads to help grow your business, another equally important component in keeping your business thriving is the art of keeping your clients.
The cost of losing a client can get expensive, and the time required to replace lost clients with new leads translates to time better spent elsewhere. The goal for all agents should be a mixture of generating new leads and reducing client attrition rates. It may be hard to believe, but with the loss of just 1 out of 5 clients and their potential referral capabilities means that you can face up to a 100% turnover in five years. Nobody wants to take that kind of hit to their business. You need to stay in touch with your clients. Try these suggestions SELECT Services & Benefits has to offer to maintain a positive relationship with everyone in your sphere and to create a more effortless business.
- STAY CURRENT. Top-of-Mind-Awareness (TOMA) is everything in this business. You should always be in the habit of sending out thank-you cards, status updates, and tokens of appreciation to your clients and referrals (even if a business transaction hasn’t followed through). Clients will remember you more readily if you make it harder for them to forget about you. In addition, Select runs monthly newsletters to your SOI’s for your benefit.
- SELECT CLIENT CLUB. Select offers Select Client Club (SCC) to every client after every closing as a special thank you. SCC enables members to utilize useful benefits and perks, such as free photocopying and faxes, notary services, free Wi-Fi, and access to member-only parties, events, and our original luxury lifestyle eMagazine and Life & Real Estate eNewsletter. Participating in client appreciation events and actively communicating is a surefire way to maintain your client’s good graces.
- FIX YOUR MISTAKES. Nobody is perfect. If a client has disappeared or a referral source has dried up, do your part in finding out why. Learning about what happened will only help you in avoiding similar mistakes and may even bring that former client back to you. Always ask how you can improve and if anything more can be done. SELECT relies heavily on positive social media, and this is one method you can use to craft positive responses to any negative complaints. People appreciate those who are willing to go above and beyond. Surprise your clients with gratitude, modesty, and grit.