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Here's why you need to stay in touch with former clients

By Mike Wheatley | December 8, 2016

Are you putting in the effort to keep up with former clients? While some agents may do so as a matter of course, it’s clear that there are many who don’t.

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A recent survey by Happy Grasshopper has just found that almost half of all homeowners don’t have a “go-to” real estate agent, which suggests that many real estate agents are failing to stay in touch. And that’s a problem, because agents could be leaving future business on the table by not following up. What’s more, 70 percent of the 300 homeowners surveyed said they only did “very little” or “some” research before choosing a real estate agent.

"The study shows a large percentage of the market is up for grabs, not only because many homeowners do not have a preferred agent, but also the fact that most homeowners aren’t doing heavy research before hiring one," says Dan Stewart, CEO and co-founder of Happy Grasshopper. "This suggests communication initiated by an agent might be enough to turn a lead into a sale, even if it takes years before the client is ready to buy or sell. Agents are missing opportunities to cultivate relationships with past and potential clients so when it is time to move, they know who to call."

Further evidence comes from the survey, which reveals that 36 percent of homeowners believe it’s beneficial to receive communication from a real estate agent from time to time, even if they’re not currently in the market. Those that would like communication are mostly interested in new listings, open houses in their neighborhoods, home maintenance tips and information on neighborhood events.

Despite this desire to stay in the loop, only 19 percent of homeowner say they actually have this kind of communication with a real estate pro. The study also showed that email is the best way to stay in touch, rather than phone calls, social media or text messages.

"Staying in touch is possibly the most underrated and underused tactic that I see from my colleagues in the industry, despite the fact that it's as easy as sending an email," said Matt Bohanon, ABR, SRS, a team leader at Keller Williams Realty Select in Sarasota, Fla. "Keeping frequent communication, even with the people who seem like they'll never buy or sell, will eventually pay off — maybe not through a transaction, but they'll most likely refer you to their friends."

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected].
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