The highest-earning real estate sales professionals share a common trait. This trait enables them to climb to the top of their markets and remain dominant. Year after year, these upper-percentile performers list and sell more homes than several of their competitors combined! This is all because they are consistent in their marketing, communication, service and relationship management.
Consistent marketing, no matter the direction of the real estate industry, is a key element in lead capture. Consistent communication is a critical step in converting prospects to clients. Consistent service and relationship management creates repeat business and referrals!
Client retention is among the foremost concern of major corporations. Simply put, it’s more expensive to attract a new customer, than it is to keep one. The Harvard Business Review estimated that for every 5% improvement in customer retention, your business profitability increases a minimum of 25%. Here’s why:
The cost of client acquisition occurs at the beginning of a relationship. The longer the relationship, the lower the amortized cost.
Long-term clients are less inclined to switch to a competing agent.
Long-term clients are less sensitive to the cost of your real estate commission.
Long-term clients are more apt to refer your services to others. This sets the stage for exponential growth when these referrals also become long-term clients.
Long-term clients provide word-of-mouth marketing about you to their social sphere.
Long-term clients provide testimonials and social media reviews that strengthen your professional reputation.
Whether you are new to the real estate business or an established practitioner, consistency is required to attract and retain clients. Fortunately, there are affordable solutions that allow you to be consistent, such as a Client Relationship Management system for REALTORS®, or real estate CRM. Using a CRM enables you to deliver consistent branding and communication to your prospects and clients.
An excellent real estate contact management system/ CRM like IXACT Contact gives you the leverage of automation, while including the personal touches that make your messages authentic and engaging. Consistency has never been easier with a CRM for real estate – it’s truly a must!
At the end of the day, being consistent matters. It’s essential to retaining clients and of course, to your ultimate success. Use the right real estate tools to help you in your journey and good luck!
Carrie Gable & the Real Estate Virtual Assistant team at RealSupport, Inc. work virtually for many top real estate agents & brokers nationwide, offering marketing campaigns, branding, website & logo design, listing marketing efforts, lead management, technical support, marketing presentations, social media setup & management, copywriting, blogging and much more.
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IXACT Contact helps you build lasting relationships with past clients, hot prospects, and important referral sources. The system makes it easy to keep in touch with clients the right way and to generate high quality new leads. It also helps you manage the transaction side of your business, keeping you organized and in control.