How To Build a Repeat & Referral Based Real Estate Business

However good your skills are in negotiating and selling real estate, any marketing professional will tell you that they are not enough to retain your clients. Communication is vital to winning and keeping clients for your business building rapport and earning respect are vital. Clients do not just buy your services; they buy your continuous support and that means maintaining that important element of human contact.

Without that human touch, your business will lose clients. With it, not only will you retain clients but also you will gain referrals. Statistics show that it is less expensive to keep a client than gain a new one. Most of us know the 80/20 rule that 80 % of business comes from current clients and 20 % from new ones. But were you aware that according to the Harvard Business Review it costs up to 8 times more to gain a new customer than retain an old one (Zero Defections by Frederick F. Reichheld and W. Earl Sasser, Jr.). If you do the math you will find that the 20% is only worth 4% of your business in real terms. You do not want to lose your past clients!

One of the main features is to utilize a Client Database Management system that allows you to maintain communications with little effort on your part. Formulate a desired contact strategy and produce 100% customizable direct mail for your clients on an annual, quarterly or monthly basis.

Designed pieces include postcards, letters, and folded card formats and can include calendars, recipes, sports schedules, magnetic dry erase boards and more. The contents are fun and full of helpful and informative tips for your clients.

Some subjects for example can include home improvement tips or knowing when to refinance. Each piece works to keep your name in front of your clients year round and also prompts your clients for onward referrals.

The service is typically competitively priced and pays dividends as you get referrals from clients already in your book of business by the most powerful medium of all word of mouth.

In the competitive world of real estate, that's a solid gold guarantee not only of continued repeat business but of new business as well.