Real estate agents spend years building their ability to communicate with their leads and clients in order to foster successful and healthy working relationships.
However, this usually lasts for the duration of the deal and oftentimes communication is stopped completely between the two parties after that. Increasing client retention can be a very profitable business strategy for real estate agents.
That is why this article delves into the strategies real estate agents require to personalize client communication in order to have higher retention rates.
Why is a Higher Retention Rate Important?
Before delving into how we create higher retention rates for real estate agents, it is important to understand why agents need it.
A higher client retention rate means that once an agent has closed a deal with a client, that client will return to the same agent for future buying and selling needs.
Having former clients return back to the agent not only showcases a very high level of customer satisfaction but also helps increase revenue for the real estate agent in the long run.
Strategies for Better Client Communication for Higher Retention Rates
Content Personalization for The Client
With humans being social beings, people often respond positively to a more open line of communication with personalized touches.
For example, anybody would prefer to work with a salesman that speaks politely but also asks about your needs as opposed to a salesman who just gives you the first thing in their eyeline.
Knowing Your Customers
The same goes for real estate agents and their clients. Getting to know a client is the first step in building a proper relationship that extends beyond your current deal. Communicate to them that you are their real estate agent and are only there to help them get the best deal possible.
Ask them about their expectations from you, what kind of home they are looking for and what their idea for the future is. Knowing more about the client will not only help you make your decision on finding the ideal property for them but also showcase to them that you do care about their needs.
Reaching Out On Special Days
Whether you have a real estate CRM integration for your business or keep notes on your former clients, utilizing the information you have on them to improve relationships is important.
Make sure your former clients know that you remember them and keep yourself in the back of their minds for any real estate needs by sending out holiday cards over the years. However, something that is very important is making sure they do not feel discarded after the deal is closed.
Reach out to them and call or visit their home to congratulate them on their new purchase. Send some housewarming gifts and thank them for conducting the purchase through you. Showing a little happiness in someone else’s achievements will show that you care for them.
Know the Community
As a real estate agent dealing in specific areas, it is your duty to be a known figure in the community. You will have people who are former clients and people who will need a real estate agent in the future.
Making it a point to get your business spread to them is important, but ensuring they know of you personally is key. Being able to put a face to the business will help people be persuaded to work with you and give you business because they will trust you more.
Utilize Real Estate Technology
Real estate technology has advanced a lot over the past few years and real estate agents, investors, and brokers need to be using them in order to stay competitive.
Ease Interactions
Customer relationship management software or CRM systems are prevalent in every real estate business these days, because they help minimize the burdens of the business. They store all data related to clients within the system, allowing the agent to recall or look up any information whenever they want to.
These systems help a real estate agent ease interactions and have more communication with the agent, streamlining the entire process. Some of the best real estate CRM systems have various features that help automate tasks such as sending out cards for specific dates to former clients or even helping with your presence online.
Constant Lead Generation and Automation
Remember the various features available in CRMs? Well, they are also available separately and they range over various tasks that help speed up work for real estate agents.
With technology having become so advanced, they can be used to create multiple types of lead generation for real estate business. These leads can also be nurtured much more easily with the help of automation tools that help progress your marketing channel automatically once they are set up.
This means from generating leads to automating your channels there is no human error occurring and less opportunities being lost.
Customer Expectations
Clients are often unaware of what they want and knowing their expectations is important. Having open lines of communication allows you to know what they truly want.
Constant Communication
Knowing what they want at the start is one thing, but deals can constantly change over time, and it is important to know how your client is feeling about them. Having communication lines open at all times allows an agent to know what the clients are feeling.
Tackle Disappointments and Communicate Business Values
Disappointments are bound to happen as a deal is going through. It is often the case that there will be bumps along the way, but it is important as an agent to keep your client in the loop and tackle the issue.
A great way of handling this is to also communicate your values and the business’ values, which place the client’s needs at the top. Minimize the disappointment from the bumps along the way, and reassure the client.
Conclusion
Overall, client communication is absolutely essential in creating a higher retention rate for real estate businesses to keep having customers return. Maintaining communication and following the strategies mentioned will help build better relationships to achieve this purpose.
