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Closing is the End, Or Is It?

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

Closing is the End, Or Is It? 

Some think closing is the end of the transaction. 

Is congratulating the clients at closing the end of the road? The buyers have a new home.

The sellers are no longer the homeowners. Everybody gets paid (depending on the transaction).

The deal is done. 

Not so fast. 

On several occasions in the last year I have had calls from clients weeks or months after they purchased a new home, and the call went something like "I bet you thought you were done with us." There have been requests for information, documents they couldn't find, problems with the homes, help with vendor needs, and more. No doubt you have experienced the same and have dealt with it accordingly. 

I like having this happen since it means they haven't forgotten me. Yet. 

I wonder... 

How often ARE agents done with their clients when the transaction closes? 

If clients feel that once the deal has closed and we have been paid that we will disappear into the sunset..  

How do YOU stay in touch with past clients?The closing should be a transition to a new stage of the relationship with the buyer, or seller, NOT the end. We may be through with them in terms of the formal transaction, but we are not really through with them. Unless we really want to be. We are responsible for the next phase in the relationship.

Staying in touch with past clients is important, at least if we have hope of getting a referral or assisting them again in a future move. But it's often not done, or at least not consistently. So often we see sellers list a home with someone other than the buyer agent, who is still around, that helped them buy the home. 

There are lots of ways to stay in touch: 

  • personal calls
  • newsletters - snail and email
  • stop-bys
  • market updates
  • holiday, birthday, anniversary of purchase, other special occasion cards
  • client appreciation events
  • list of vendors for those you know plan to remodel
  • copy of HUD-1 for next year's taxes
  • reminder about property taxes or requesting a re-assessment annually
  • reminder about renewing Home warranty 

How do YOU stay in touch with past clients?Have you finished with your clients when the transaction closes and they have moved out, or in? 

More importantly, do THEY have the impression you ARE done with them? 

What are you doing to show that this is just the next phase of your relationship, not the end of a great time?

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (35)

Donald Reich
Madison Specs - New Rochelle, NY
Cost Segregation Specialist

A reminder about the deadline to Grieve your taxes, and in New York State, a reminder about the deadline to file the STAR (school tax rebate)

May 26, 2011 12:06 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Jeff,

Excellent post..I would have hit the suggest button but it already has been done. If agents would concentrate on keeping their relationship intact there would be referrals coming in and no issue of another agent listing their clients home in the future!

May 26, 2011 12:11 AM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Hi Jeff, it is so important as Andy also says to not to be MIA but ever present as you too say in some form...best

May 26, 2011 12:15 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

We're not finished at settlement.  I'm working with a buyer now to whom I sold a home 15 years ago.  Two of my sales last year were to buyers 10 and 12 years ago.

Repeat buyers are the best buyers in the world.  The relationship is established.  They respect your ability or they wouldn't have returned. 

It's a win for both the agent and the buyer.

May 26, 2011 12:24 AM
Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

I love my repeat clients. And the only way to retain them is by providing stellar service and keeping in touch. I try to do my best on both fronts.

May 26, 2011 12:42 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Jeff, staying in touch is a great way to get repeat business. The closing is the start of a long relationship.

May 26, 2011 02:31 AM
Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

The closing is only the beginning, but it can be the end if you are not on top of your marketing. Nice comprehensive list.

May 26, 2011 02:45 AM
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Jeff - just another great reminder that we need to stay in touch with our buyers!

May 26, 2011 02:54 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

It only stops when we do...It is like a merry go round. Ride until you have had enough...I love this business and like fine wine and cheese, agents who have been around a while become valuable tools to those that use them...thank you

May 26, 2011 03:13 AM
Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI Real Adventures

These days more than ever we seem to really really get to know each other at a much deeper level.  We spend more time together and go through more ups and downs than in past recent years.  Keep the bond going after closing is so important, great post

May 26, 2011 04:05 AM
John M. Scott
BRE # 01442690, Scott Keys Properties - San Francisco, CA
Broker / Owner San Francisco Bay Area

Jeff, i totally agree with you. After all the time I spend with my clients and it results in a successful conclusion, I feel like we've gotten to know each other well - and they are good friends. So I Want to keep in touch!

May 26, 2011 06:28 AM
Adam Mallory
eBroker Real Estate 619-566-ADAM - San Diego, CA
Broker, ABR, e-Pro

Great post Jeff!  Those are all very core things we should all practice after the close of escrow.  After all, they'll want to move up someday, hope they think of me!

May 26, 2011 07:39 AM
Catherine Sinocruz
Coldwell Banker Select Real Estate - Reno, NV
Broker-Salesperson, ABR, GRI, CRS

Keeping in touch is very important in our business.

May 26, 2011 08:54 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff this statement that you made is OH so very true "The closing should be a transition to a new stage of the relationship with the buyer, or seller, NOT the end"

Referrals are the life blood to our business, and they don't happen if the Closing is the end of our relationship to our clients.

May 26, 2011 08:58 AM
William Johnson
Retired - La Jolla, CA
Retired

Hi Jeff, I don't ever consider myself done, nore would I want it to be tha way. I made it apoint in my career to be their REALTOR® for life and at the end of the transaction phase, the fun part just begins.

May 26, 2011 09:21 AM
Ann Nguyen
eXp Realty of California, Inc. - Truckee, CA
Lake Tahoe Truckee Homes For Sale

Jeff,

Since I live & work in a resort area, most of my clients are absentee owners so I usually offered to keep a key so I can give out to service people or delivery of furniture/appliances. I love that I can still provide service for my clients long after escrow closes.

May 26, 2011 09:43 AM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

I cherish my repeat clients.  I also keep in contact with clients by sending them neighborhood updates or information about a new restaurant, etc. that they might enjoy.

May 26, 2011 04:58 PM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

This is excellent advice.  We have established a relationship with these people and that does not stop because we have taken our commission. 

May 26, 2011 06:43 PM
Anonymous
Camille Ruiz

Jeff,

Absolutely great post. I do try to keep in touch with past clients. My goal is to touch base with them atleast 5 times a year to stay top of mind. I like to inquire about the kids and pets and just to make sure that they are ok and have not forgotten me (I do let them know when we initially meet that I would love to keep in touch with them after and ask if they are ok with it.  2 days ago, I actually went by and visited 3 of my customers that closed this year, and as I was visiting them; one of their new neighbors was in their home and was so impressed that asked me to go to their home to do a listing presentation and walked out the door with the listing.

I know I still have a lot to learn and I will sometimes forget to stay in touch, but that is my absolute goal to make it a habit this year.

 

May 27, 2011 09:17 AM
#34
Kathy Schowe
California Lifestyle Realty - La Quinta, CA
La Quinta, California 760-333-8886

I love it when my clients (especially out of towners) call me to help them with their home after the sale is closed.  I will go meet that plumber, or let in the decorator.  I am their agent for life!

May 29, 2011 10:44 AM