Real estate is a highly competitive industry, and building long-term relationships with past clients and sphere of influence can help you stand out from the competition. In this piece of writing, we will discuss an approach to nurturing your past clients and sphere of influence that will help you build lasting relationships, generate referrals, and grow your business.
Step 1: Build a Database
The first step in nurturing your past clients and sphere of influence is to build a comprehensive database. This database should include the names, contact information, and other important details about your past clients and sphere of influence. You can create this database using a customer relationship management (CRM) tool or a simple spreadsheet.
It's essential to include all relevant information in your database, such as the dates of your previous interactions, the type of property your clients purchased, and their interests. A well-maintained database can help you track your interactions and personalize your communication, which can lead to better relationships.
Step 2: Segment Your Database
The next step is to segment your database based on specific criteria. Segmenting your database means dividing it into different groups based on certain criteria, such as demographics, interests, or location.
For example, you can segment your database based on whether the client is a buyer or a seller, their preferred location, or the type of property they are interested in. You can also segment your database based on the frequency of your interactions or the level of engagement they have shown.
Segmenting your database will help you target your communication more effectively, making them more relevant to your clients and more likely to generate a response.
Step 3: Set Up a Communication Plan
Once you have segmented your database, it's time to set up a communication plan. This plan should include a mix of different communication channels, such as email, phone calls, and social media. It should also include a schedule for when you will reach out to your clients and what you will say.
Your communication plan should be personalized to each segment of your database. For example, you may want to send a monthly email newsletter to your entire database, but also send a personalized thank-you card to each client on the anniversary of their home purchase.
It's crucial to make your communication relevant and timely, and to avoid overwhelming your clients with too many messages. You can also use automation tools to streamline your communication and save time.
Step 4: Add Value
When you communicate with your past clients and sphere of influence, it's important to add value. Adding value means providing them with information, resources, and insights that they will find useful.
For example, you may want to send your clients a monthly market report that includes information on local real estate trends or share articles and blog posts on topics related to home buying and selling.
By providing value, you will keep your clients engaged and demonstrate your expertise in the industry. This can help build trust and credibility, which can lead to more business opportunities.
Step 5: Ask for Referrals
Finally, don't be afraid to ask for referrals. Your past clients and sphere of influence can be some of your most powerful advocates, and they are often happy to refer their friends and family to you.
When you ask for referrals, be specific about what you are looking for. For example, you may want to ask if they know anyone who is looking to buy or sell a home in the near future. You can also offer incentives, such as discounts or gifts, to encourage referrals.
Nurturing your past clients and sphere of influence is an essential part of building a successful real estate business. By building a comprehensive database, segmenting it, setting up a personalized communication plan, adding value, and asking for referrals, you can build lasting relationships and grow your business over time. Remember, real estate is a people-driven industry