Ten Things a Real Estate Professional Can Do in a “Down” Economy: #1

March 24, 2009 by  
Filed under Robin's Ruminations

#1 Become Reacquainted with Former Clients and Customers (first in a series)

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You know that it is important to keep in touch with former clients and customers.  You worked hard to get them; you don’t want to lose them. You’ve also seen the NAR statistics about consumers who liked their real estate agent, but can’t remember the agent’s name.  (Definitely don’t want to be part of that group!)

So, what else, besides your usual continual-contact system, might you be doing?

Now is the time to get out and “socialize” with those people who have brought you business in the past!  Call them on the phone (you’ve got an established business relationship with them, so that’s fair), and set up an appointment for a chat.  The reason you’re suggesting an in-person visit?  Because, given what has happened to their other investments, and what they’re reading in the newspapers and hearing on TV and radio, people are likely concerned about the value of their current home.  You will provide them with an update on what’s really going on in your marketplace—and help them sleep better.

On the day of the meeting, take along some information that you can leave behind.  I would suggest including your business card, the latest market “snapshot,” and a printed copy of your latest newsletter and/or blog post.  You may have other items that would also be of value.

While you are there, do update all of the customer’s information, including e-mail addresses.  (You may not have collected that information, when you closed the last deal with them.)  Reaffirm your plan to continue to provide them with relevant information about the real estate market, and the community at large.

Also, find out what’s been happening with their family (you’re an old friend, now, so that’s a natural question), and make a note of what you learn.  They may impart news about life events that could lead to a near-future real estate need—empty nest, parent moving in, another child expected, retirement, and so on.  If so, then you’ll want to include this contact in the appropriate Prospects list.

Don’t overstay your welcome!  Plan to stay no more than 20-30 minutes.  Leave them wishing for more conversation with you.

Finally, be sure to follow up, right away.  Send a hand-written thank you note, confirming your intention to keep in touch.

Subsequent post: #2  Enhance Your Online Presence

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