6 Client Retention Strategies That Never Go Out of Style

According to the 2021 NAR Profile of Home Buyers and Sellers:  Sixty-eight percent of recent sellers used an agent who was referred to them or used an agent they had worked with in the past to buy or sell a home.

To make sure you receive referrals, you must always be top-of-mind with those you have done business with in the past. Do this by communicating with them regularly, providing information about homeownership issues (not just purchase and listing information), as well as keeping them posted on legal or other changes. 

The “keep-in-touch” strategy has always worked in the past and works equally well today. 

To keep your connections strong, contact them in person at least three to four times per year, and at least monthly using social media or other types of digital communication. 

No matter what your experience level is, maintaining a strong knowledge of inventory is critical for real estate success. Top agents can rattle off comparable sales and correctly price properties without ever having to look at the comparable sales. 

Your clients want to know they’re hiring an expert in their area. Having a strong knowledge of local inventory is one of the best ways to demonstrate this expertise.

How many questions did you ask the sellers on your last listing appointment? How much time did you spend interviewing your last set of buyers before you took them out to look at properties? Instead of focusing on you or your company’s achievements, focus on them. 

To do this, always interview prospective buyers and sellers to learn what is important to them about their lifestyle, not just about the property they will be buying or selling. In addition, be sure to take notes on what they say. Taking notes shows your client you care enough about them to write down what they say. It’s one of the most powerful ways to build a connection that leads to trust and closed transactions. 

Always remember the old acronym WIIFM — your clients aren’t interested in your achievements. Instead, they want to know, “What’s in it for me?”

This approach works together with the Seller Guarantee of Services. It is also an excellent way to increase customer satisfaction. Companies using post-closing surveys often have approval ratings that hover in the 95 percent range. 

The surveys also help both agents and companies discover how to provide better service in the future as well as reducing litigation. When a client is unhappy with the company’s or the agent’s service, a post-closing survey allows the issue to be addressed before it escalates into a lawsuit. 

Back in 1997, the company I worked for launched a “concierge” program that allowed our clients to find the best-qualified contractors, mortgage brokers, title officers, and other service providers in our area. 

If you (or your company) have not already done so, create a list of qualified contractors and other transaction support people who provide quality work at a competitive price, especially if they have done work for you personally. 

According to the 2021 NAR Profile of Buyers and Sellers, Sellers place the highest priorities on the following five tasks: 

• Price the home competitively (21 percent)

• Help market the home to potential buyers (20 percent)

• Sell the home within a specific timeframe (16 percent)

• Help fix the home to sell for more (16 percent)

• Find a buyer for the home (12 percent)

In recent years, helping a seller understand how to fix up the home for sale has become more important to sellers.

Make sure that you become an expert at providing help in these five areas that matter most to today’s clients.