Attention Realtors – Start Cultivating Your First Time Buyer Clientele

From the moment you obtain your real estate license, you can begin the process of cultivating your first-time buyer clientele to increase the chances that you will be called upon to represent them in future transactions.

Depending on the state, it is estimated that the average turnover of a home is around 11 years, with a usual range spanning from six to 16 years. Based on this factor, there are definite benefits in building and nurturing lasting relationships with your younger clients since there is a strong likelihood that they could move again in a matter of just a few years.

While a first home is generally purchased based on the desire to put an end to rental payments and build some equity, the longing to buy a second home typically begins when a family starts to grow. The third residence is usually the "dream" home. So if your goal is repeat business and referrals, it is of paramount importance to maintain consistent communication with this group.

Here are some simple ways you can satisfy the yearning this client group will have to obtain pertinent information about caring for their biggest investment:

• Note their focus in upgrading the home. E-mail or phone them with the name of a trusted vendor you have for the project. Or, just send them vendors on a timely basis. For example, you might suggest HVAC vendors prior to the seasons for heat and/or air-conditioning.
• If appropriate, invite your client to join you on your favorite social network. This is a great way to get to know them better and may also bring in referrals.
• Send them an e-mail notifying them when a larger home in their neighborhood has been listed or sold. This may very well spark a discussion about moving up.
• Real estate education is important. Invite them to subscribe to your blog or view news articles on your website to gather useful information on home ownership, maintenance, remodeling and other related topics. You can also send links to your articles or others you find that may be of significance to them.

Over time, you will develop your own tactics and adjust them as needed. Remember to keep meticulous notes on each family because the more you personalize your correspondence, the more effective it will be.