I recently spoke to my realtor friend in Tampa, FL. She was commenting about the up-swing in her real estate business over the past 3 months. She was listing more, she was closing more than in the first quarter of 2008. Wandering how this could be in such terrible economic times, I inquired about her good fortune. She quickly responded with her secret: Relationships were the key to her longevity. She went on to share some metrics about the real estate industry. She estimated that about 50% of her customers came to her because their last realtor never bothered to follow up with them. She went on to add that a customer usually listed with her after she had been in touch with them on the 5th, 6th, or 7th contact. The difference was the relationship they had developed with her customers. You hear many sales people talk about appealing to the masses. Get your name out on a billboard, a broadcast email, buying space on shopping carts. My experience and that of my realtor associates indicate the opposite is true. Mass marketing creates a very wide but shallow customer base. Personal marketing or Relationship Marketing creates a deeper customer base.
My friend has been a successful realtor in the Midwest and South because she focused on relationships. I urge each of you to think about making your relationships deeper with current customers and potential customers to ensure prosperity for any market.
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