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Client Relationships Can Be Your Best Source of New Business
By Joel N. Sussman If you thought you were wasting your time keeping in touch with former clients, you may want to take a fresh look at that point of view. According to a study released just last month by the National Association of Realtors?, more than half the people who bought or sold property selected their agent or broker either through a referral or as the result of a previous client relationship. The 2005 National Association of Realtors? Profile of Home Buyers and Sellers, based on more than 7,800 responses to a national questionnaire, revealed some interesting patterns in consumer behavior. Specifically, it was shown that 44% of buyers chose their agent or broker on the basis of a referral by a friend, neighbor, or relative; and 11% used an agent from a previous transaction. From a marketing standpoint, it's also relevant to note that 7% of the respondents found an agent on the Internet, 7% met at an open house, and 6% followed up on contact information displayed on a 'for sale' sign. So while it makes sense to have a strong presence on the Internet and to continue holding open houses, casting a wider net for referrals may be one of the best ways to increase your sales.
Another approach to staying in touch is through a quarterly newsletter. (Issuing it monthly would be too time-consuming for most agents and brokers.) Bulletins that you write and localize yourself would tend to generate more interest than a generic pre-written version, but perhaps in the interest of time management, a combination of the two might be the ideal solution. As an alternative (or a supplement) you might also consider producing a permission-based email newsletter, an online e-zine, a blog, or simply a regularly updated web site. Regardless of how you approach it, keeping the lines of communication open between you and your existing and prospective clients can translate into repeat business, lucrative referrals, and more bottom-line sales profits.
How to Attract Clients & Close More Sales When you boil the real estate sales process down to its essential ingredients, you end up with four basic steps:
1) Attract prospects' attention The path leading to that final hurdle of closing the sale is marked by a number of challenges, ranging from winning the prospect's trust to anticipating and overcoming objections. It can't be overemphasized that both the spoken and written word are your most powerful allies in the quest to convert a prospect into a satisfied client. Establish an Emotional Connection Whether you're writing a sales letter or conducting a house tour, triggering your prospect's emotions can be a highly effective marketing tactic. Whenever appropriate, focus on the feelings they'll experience when they settle into their new home. Paint a mental picture for them of the beautiful park-like setting of the property, the peaceful, friendly neighborhood they'll be moving into, the cozy, crackling fire they'll relax in front of on those cold winter nights, the enjoyable dinner parties they'll throw in their rich-looking dining room, and the fond, memories they'll create raising their family in a new home. Once you've established what their "hot buttons" are, you can then emphasize those sought-after features and intangible qualities in your house tours, phone calls, and emails. Helpful Pointers for Sales Letters and Ads Design and write your ad copy to focus on your clients' goals, dreams, and desires. Allow your real estate offerings to speak directly to their emotional and physical needs. Give your letters and ad copy eye appeal by avoiding a cluttered look, while, at the same time, highlighting the benefits and desirable features of your listings. Emphasizing benefits is one of the keys to selling real estate, so make them stand out. Besides using bullets, such as checkmarks or dark squares to highlight your selling points, you can call attention to key words and sentences through the selective use of bolding, underlining, using a yellow highlighter effect, italics, and exclamation points. A word of caution: using all caps, two many font styles, excessive exclamation points, or too much italics can make your text either difficult to read or just plain tacky! Moderation is the best approach. Another good rule of thumb is to keep your ads and letters free from unnecessary words, phrases, and paragraphs that don't support and strengthen your message. Remember, many people have a short attention span (are you still with me?), so avoid being verbose. BTW... When designing new listing or open house flyers, a good way to help ensure quality control and save time is to use real estate flyer templates. In studying tried-and-proven marketing methods over the years, I can't tell you the number of times I've read how important it is to end a sales letter with a compelling "P.S". The impatient reader will often skim the bulleted points of a letter and then skip down to the P.S. to glean the essence of the message. This is a good opportunity to repeat a strong benefit, reiterate the urgency of taking action now, or perhaps offer a free report on how to increase the curb appeal or marketability of their current home. The art of putting a positive spin on things is not a talent reserved for the public relations practitioner. If you make it a habit to accentuate the positive and concentrate on being a strong finisher, you'll build the foundation for a having a solid competitive edge in the ever-changing real estate marketplace. |
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