A NAR survey, from 2013, gave us some important information. Did you know:
- 88% of buyers purchased their home through a real estate agent or broker.
- 42% of buyers found their agent through a referral from a friend of family member
- 12% of buyers used an agent they had used before to buy or sell a home
- 88% of buyers would use their agent again or recommend to others.
- 39% of sellers, who used a real estate agent, found their agents through a referral by friends of family
- 25% of sellers used the agent they worked with previously to buy or sell a home.
As a marketing company, we really liked these statistics. The survey results prove that repeat business isn’t the unicorn of the realty world: an elusive and mystical ideal that rarely—if ever—actually pans out. However, we also see the figures as a challenge.
We want 100% of your buyers to return to you. So, we asked ourselves: how can we increase the percentage of your returning clients? One sure-fire way to remind clients to come back to you is to remain ever present in their lives.
No, I don’t mean pop by for an afternoon visit once a month, but there is a way you can kind of do that—unobtrusively, of course. The fact of the matter is, the average person probably doesn’t need a real estate agent once a year, or even once every two years.
The survey stated that most people need a real estate agent every 9 years or so. It’s not easy to remember which real estate agent you used 9 years ago. However, you can use promotional items to gently remind your past clients that they are always welcome to contact you. When you send things like Calendar Magnets, Sports Schedules, or even a simple friendly note—you are saying “I would love to hear from you.”
It’s as easy as that. When you regularly send reminders of your relationship with your clients, they will automatically think of you whenever they have real estate needs. What's even better, is you will most likely snag a few referrals from sending promotional items, as prior clients will be inclined to give your information to friends and family in need of your services.
How do you keep your prior clients coming back for more?