Will your clients use you again? According to NAR 83% of buyers said they’d use their Agent again. How many actually did? Only 9%!
So why the big discrepancy?
I can think of a few reasons, mostly stemming from the fact that some time will usually pass between the purchase of a home and the purchase of the next home. That's assuming you're selling to homeowners rather than investors, of course.
Here's my short list:
- The agent is no longer in the business. They've retired or gone on to do something else.
- The agent is a buyers' agent only and the buyers are purchasing in some other area.
- The agent hasn't stayed in contact with those buyers…
So – the buyers don't know if the agent is still in the business, don't remember his or her name, or can't find them because the agent has left the agency and the old agency isn't telling where they went. (Yep, that one happened to me.)
Meanwhile, a friend, relative, or neighbor has referred them to some other agent – or some other agent has been actively pursuing their business. So rather than make a full scale effort to find their "old" agent, they go ahead and choose a new one.
Isn't that a shame?
I don't know what percentage of people fall into the first and second categories, but since 74% of buyers would use the same agent but didn't, even its half, that still leaves 37% of past buyers who would have used the same agent if only the agent had taken time to write or call a few times each year.
Are YOU staying in touch with past clients?