Tips To Grow Your Client Base In 2021
Lee Huffman4-minute Read
April 30, 2021
With mortgage interest rates near all-time lows, the housing market is red hot. Now is the time to expand your client base to generate more leads and grow your business. These new clients will not only help you close more business today, but they'll serve as a source of referrals in the future. Here are nine tips to grow your client base in 2021.
Understand The Needs Of Your Clients And Prospects
Getting to know your clients and what they're looking for in a property increases their satisfaction and saves everyone time. Getting to know your clients and prospects will help you understand their goals so that you can create a personalized strategy.
The strategy for a client who wants a quick sale is much different from one who wants top dollar. Similarly, when a prospect wants to buy a home, understanding the difference between their must-haves and nice-to-haves can quickly narrow down the listings. This will avoid viewing houses that aren't a good fit so you can focus time and energy on finding their dream home that they can't wait to make an offer on.
Provide Excellent Service And Ask For Feedback
Excellent customer service is what separates the good agents from the great agents. In many cases, simply setting expectations and following through on what you say you'll do will set yourself apart. For example, let the client know when you're normally available to return calls, emails and texts, then make sure that you return the message during that window.
Once your transaction is done, ask the client for their honest feedback. What did you do right, and how you can improve? Take all of the criticism and process it, even if it wasn't your fault. Reflect on their feedback and determine whether you could have done anything differently. You can't change what happened, but you can change how you'll act in those situations in the future.
Encourage And Reward Referrals
A happy client is an excellent source of referrals. They may not know someone right away who needs your services, but they will eventually. Periodically reach out to them via email, text or phone call to keep yourself top of mind. Most likely, you aren't the only real estate agent that they know, but you'll be the one they remember if you reach out on a regular basis.
Depending on your local rules, reward people who refer you business. It doesn't have to be a big gift. Even a handwritten card letting them know that you value their referral can go a long way to show gratitude.
Offer To Host Open Houses For Experienced Agents
If you're new to the business or are having trouble finding new prospects, let your fellow agents know that you're willing to work their open houses. It is a time commitment, but there is business to be earned at open houses. Potential buyers without an agent may walk in and be open to working with you. Plus, neighbors who may be thinking of selling soon may take a peek to see what upgrades the home has to get ideas for their home before listing it.
Utilize Technology And Social Media
Technology and social media are valuable tools to keep in touch with clients and prospects. Customer Relationship Management (CRM) solutions track every interaction with clients and prospects and remind you when to follow up. Their activity log also makes it simple to get up to speed quickly and remember crucial client details before reaching out.
Regular posts on social media keep your name fresh and relevant with your followers and in the industry. Using popular hashtags for your community and real estate increases the likelihood that your posts will be seen by clients and prospects who might need your services.
Play To Your Strengths
Very few people are good at everything they do. Successful agents focus on the things they do best and partner with others to handle what they don't. If you love working with certain types of buyers or sellers (for example, single-family homes vs. condos), let it be known in your marketing. The more that your clients, prospects, and partners know what your strengths are, the more that you'll attract those kinds of properties. For properties that don't fit your ideal, consider referring that prospect to someone who specializes in them.
Network And Partner With Local Businesses
Local businesses can be excellent sources of new business. Support their business by ordering from them and hosting events at their location. They'll likely repay the favor by referring their customers to you and allowing you to display ads inside their business. Working with local businesses and supporting each other makes the community stronger. And the more that prospects see your name in their favorite shops, the more they'll remember your name when it comes to buying or selling a property.
Track Your Efforts And Measure The Results
You're putting in so much effort to build your business, but what are the results? Which strategies are working for you and which are not? By tracking your efforts and results in your CRM software, you'll know what strategies to keep and which to abandon. For example, every time you speak with a new prospect, ask how they found you. Track that information in your CRM and regularly monitor the results.
Adapt And Keep Your Strategy Fresh
The world of real estate continues to evolve. What worked last year might turn away clients and prospects this year. You can keep your strategy fresh by implementing feedback from clients and monitoring the success and failure of your marketing efforts. Always be ready to adapt to changing needs of clients.
The Bottom Line
Building your business and growing your client base takes time and effort. Following these nine strategies will accelerate your progress and keep you front of mind in your community. Your client needs may change, but you'll be the one that they can always count on.
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