A friend of mine told me that trust is established by making a promise and keeping it. Yet, so many real estate agents just don't call/email that client or potential client back. How come? Well, agents tell me that 'they don't have anything to say'. 'They are busy'. 'The client should wait'. 'It won't make any difference.' 'I don't think they're serious'. In truth, it makes a heck of a lot of difference. Why? Because, as an industry, we are rated as one of the lowest in trust.I know. You don't like to hear that. You're different. I think I am, too, but, that doesn't mean we can be the least bit sloppy with our promises.
Why Keeping a Promise is So Important
Let's say you told the buyer you would call him back at 8:30 this evening. However, you didn't have the information you thought you would have. You're debating now. "Should I call that buyer back--or not?" YES! Call the buyer, because the buyer is making judgments about your trustworthiness and credilibity based on small actions, not large ones. Surprise! Those small, respectful, trust-building actions are enough to build unassailable loyalty.
Good news for you newer agents: That's how you beat the 'big boys'--just out-perform them on communication and promises kept. As a long-time manager and coach, I see agents (and managers) miss opportunities to build upon a foundation of trust and credibility. It's not glamorous, and you can't see it in public displays of trophies or acclaim, yet every successful salesperson and manager in the world has establish with his/her clientele this high trust/credilibity relationship.
Stunning Statistics about Agents' Communication Habits
Now, you're still arguing with me in your head, aren't you? So, let me drop some statistics on you. A recent study of Internet inquiries in my area by real estate giant John L. Scott (for whom I worked 14 years), showed that about 20% of inquirers wanted an immediate answer. About 30% were willing to wait 1/2 hour. However, agents who answered the inquiries took 54 hours on average to do so--and that was the 1/2 of the agents who EVER returned an answer to an email inquiry. That's a great way to build frustration in clients, and distrust in the real estate industry........
How to Build a Recession-Proof Business
It's not rocket science to build repeat/return loyalty, but it is rare. Here's how to do it. Work for something the marketers call "customer engagement". That means, your client says about you, "I would never, ever work with any other agent, because ______(your name here) is so terrific!" One of the methods is simply to communicate back when you said you would. So simple. So effective. So relationship-building.
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