The Life Cycle of a Real Estate Client: What You Need to Know!
People ask me all the time what exactly real estate agents do besides show homes and put homes on the MLS for sale. That is such a broad subject that I often laugh when I get asked that question. Real estate agents are not just sales people; they are business owners, marketers, social media experts, advertising experts, negotiators and communication experts. The list goes on and on and is too long for this article.
At the core real estate is a very competitive and skill testing industry. Real estate agents today must treat their real estate business like a business. Gone are the days of hoping that your bright shiny personality will get you all the business you need. Today's client wants you to have both personal, technical, business and strong communication skills. They want the very best in marketing and social media advertising and they expect you to work hard for them. They don't want to be treated like everyone else. They want a custom communication plan and they expect quick response time when both buying and selling. They want to be treated fairly and they want to be remember after the transaction.
The easiest way to juggle all these business functions and to keep your clients at the forefront of your business is to simplify what you do and then improve every aspect of the life cycle of your clients' experience with you. There are three very important stages of a client's life cycle with you. They are either a potential client, a current client or a past client. If you don't have memorable positive experiences laid out for each stage of the client life cycle, your clients won't have a good experience and ultimately, they won't refer others to you and they won't come back for more. This then puts the agent in a constant state of having to find new business which can be exhausting.
If an agent focuses on the three stages of a client's life cycle this ensures a positive experience which then helps to solidify the client/agent relationship. Real estate is a relationship business and it is easy to get caught up in all the things that must get done besides client care. When you keep the clients experience at the forefront of everything you implement in your business you are ensuring you will have a healthy thriving business. Try to come up with special and memorable experiences for each of the stages of the client's life cycle. Ask yourself what you would want if you were a potential client looking to buy or sell a home. Once you had bought that home, how would you want to be treated by your real estate agent long term?
The fastest way to grow your business and to keep it growing is to focus on the overall experiences your clients have with you.
By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings nearly three decades of experience in the real estate industry. With agent/broker coaching, expertise in branding, lead generation, strategic marketing, business analysis, new home project planning, product development, Denise is nationally recognized as the source for all things real estate. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.
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