When you are marketing and searching for new home buyers or sellers, you are most eager to find individuals who are ready to buy or sell now. You’d like to get their listing or find them a new home from the existing inventory. And, the commission will come along shortly too…. It’s understood you want — and need — business now.
However, as you are working to find these new home buyers and sellers, step back for one minute and think about the individual home buyer’s or seller’s potential lifetime value to you. You may or may not know the answers to these questions, but always assume that buyers and sellers you work with know many people! (Also always assume that they will talk about your service — or lack thereof if there is a problem!)
- Are they local and well connected in your community?
- Do they — or someone close to them — work for a large firm?
- Do they have the potential to invest in real estate?
- Are they entering the real estate market with an eye for moving up later?
- Do they have a strong involvement in social media?
Getting their home purchase or sale today is wonderful, but think about the long-term value of this customer. If you lay the foundation for excellent, unparalleled service, this single customer can — over time — send you a sizable number of referrals, helping you build your business even more.
Analyze the marketing communication you send and be sure to segment your contact list so that you not only gain new business today, but set the framework to increase business from past clients.
Share your proven methods for gaining referrals from clients.