Real Estate And Marketing; Part 1
by: Lanard Perry
There are two aspects of real estate and marketing
that are paramount to your success as a real estate
professional; the acquisition of new customers and the
retention of old ones.
As is the case in other industries the cost of
acquiring new customers is escalating. So, it becomes
more prudent to continue marketing to past customers.
It’s less expensive and can be equally profitable.
However, many real estate agents, to their financial
detriment, often fail to maintain relationships with
clients they have “closed” deals on.
Take you for example. If you’re like the majority of
agents you probably spend a lot of time, money and
effort acquiring new customers; and heaven knows it's
anything but easy. But how effective are you at
retaining past ones?
You probably feel, real or imagined, pressure to make
the next "close", but in doing so you are leaving a
lot of money on the table. Actually, it’s more like
you’re putting money into a competitor’s pocket.
Marketing to past clients can be especially rewarding.
You probably shared a genuine care for each other,
and if they were satisfied with you and your services
in the past, there is a greater chance than not that
they will come back to you for future transactions.
Also, they are likely to refer friends, family and
colleagues in the interim.
Savvy real estate and marketing pros immediately shift
their strategy to building long term relationships
once they "close" buyers." You should, too! Rather
than simply abandoning a client after a sale continue
nurturing the relationship, but in a different way.
Savvy real estate and marketing pros also, maintain
continuous, routine and ongoing contact and relations
with past clients. This helps to you protect your
customers/business from competitive encroachments.
For example; put them on an every other month "post
sale marketing campaign", whether it's via post cards,
letters or flyers.
Something is better than nothing, and it doesn't have
to cost a lot of time or money. The alternative is to
do nothing and let a competitive agent convert them to
their client! If you snooze you'll lose!
An old friend once said. "Sometimes it's better to
keep what you got than to replace it with something
new." Avoid the pain of seeing a recent past client
transact a real estate deal with another agent. Don't
let them get away - you spent too much time and energy
converting them into a customer.
About The Author:
Lanard Perry is the author of "Farming Expired Listings." Average 1 or more listings a week. Visit him at http://www.farmingexpiredlistings.com and http://www.real-estate-marketing-talk.com for more business building ideas.
March 2006
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