News

NEWS / Latest News / BUILDING LONGTERM RELATIONSHIPS WITH A CLIENT NURTURE STRATEGY
BUILDING LONGTERM RELATIONSHIPS WITH A CLIENT NURTURE STRATEGY

BUILDING LONGTERM RELATIONSHIPS WITH A CLIENT NURTURE STRATEGY

April 22nd, 2019 Latest News

So often after settlement day, we see agents inadvertently send their clients to the ‘Real Estate Orphanage’.

In other words, they fail to implement a good client nurture strategy and maximise the opportunity for an ongoing relationship with both the seller and buyer.

Not a good look!

Real Estate is one of the few businesses where at the end of each transaction, you actually end up with two clients!

If you do a great job in terms of developing and maintaining your relationship with both parties even after the sale of the property, you’re actually setting your business up for long-term growth and success.

It’s important to note that your client nurture strategy is different to working your pipeline. We’re not talking about connecting with the people sitting in your sales pipeline — we’re talking about the people who have previously bought or sold through you.

Existing clients.

Here are some tips for implementing an effective client nurture strategy:

 

  1. Depending on the size of your client base, it might be helpful to divide them into Platinum, Gold and Silver contacts.

    Your Platinums are your VIP, Hot 100 clients because they already know you, like you and trust you. They are in the marketplace or own a property you want to be known for. In terms of frequency of communication with these clients, you might implement a simple email communication strategy for your Silvers; phone your Golds once or twice a year and your Platinums three to four times each year.

    If you feel you do have some past clients you would like to collect from the Real Estate Orphanage, here is a simple strategy for reconnecting with them: “I was driving past your property the other day and thought of you. How are you enjoying the home?”

Simple!

2. Aim to make five, non-urgent client nurture calls per day.

Go through your list of existing buyers and sellers and connect with those people. Leave a message if they don’t answer.

Making 20 to 25 calls to your clients each week is going to build some serious momentum throughout the year!

Another option is to create a block of time in your ideal week that is solely dedicated to making client nurture calls.

3. Once someone has purchased a property through you, implement a ‘Weaning Off’ strategy.

On settlement day, call or visit them. After a week, check in to see how they’re settling in. Then, set up reminders to follow up with them again 30, 90 and 120 days later!

Implement a similar ‘Weaning Off’ strategy with your sellers, too.

The intensity and frequency of communication with them throughout the sales process would have been high so don’t drop them like a hot potato after settlement! They’re not past clients — you want them to see you as their agent for their lifetime in the property market.

4. Some other ideas for nurturing your clients post-sale are:

  • An anniversary phone call or letter to acknowledge the 12-month anniversary of the sale or purchase of the property
  • A monthly email newsletter to keep them updated on the marketplace
  • A quarterly report on their suburb or area
  • Invites to events
  • ‘Thank You’ letters and calls when they refer people or direct business to you
  • Coffee with the seller, post-sale. This is an opportunity for the client to provide you with feedback and develop a referral relationship as well as one in which they can rely on you for future property sales.

Implementing a strong client nurture strategy is simple, but can make a massive difference to your results. Have a conversation with your team about how you’re going to put these activities into action!

 

Other Articles