As a real estate agent, you spend a lot of time generating new leads. And why shouldn’t you? The competition to get listings never ends, so the more new sellers your reach, the more new listings you’ll collect. And the same goes for buyers.
If you want to really penetrate the market of potential sellers and buyers out there, then you might want to reach for the list that’s right under your nose. That’s right, your past client and leads list.
Here are a few of the types of clients and leads that you should look out for and how to reconnect with them for solid new business.
When you help a buyer close on a house, it might be tempting to close the relationship, too. After weeks or sometimes months of showings, negotiations and mind-changing, many agents tend to throw in the towel and move on.
If even just a few years have passed, then reach out to your past buying clients. What are some reasons that they may want to list?
- They need to upgrade their home because of a new baby or other family members.
- They need to downgrade because of a job change.
- They are moving to another city, state or country.
- They are getting a divorce.
When reaching out to past buyers, follow the same track of correspondence that you would normally follow. Start with a phone call, postcards, emails and stay on a steady, consistent timing of communication.
Your listing clients may have just sold their homes not too long ago, but there can be many reasons why they would need your help shortly thereafter or even years later.
You might not find that past listing clients are the easiest to get repeat business from, but the time and effort put into reaching out to them could be well worth it.
What instances could you get new business from a past selling client?
- They would like to buy a second vacation home nearby.
- They are ready to sell again because of divorce.
- They need to downgrade to a smaller house.
It may also be easy to forget about past leads. Why? Because it can be disappointing that someone showed interest at first then didn’t follow through. It may not seem like worth much of your time to pursue such a lead.
However, past leads who weren’t ready to sell or buy at the time may very well be ready now – so you should be ready, too! These are perhaps the people whom you should be in constant contact with the most. They showed interest, they just need the right encouragement and timing to make it happen.
The best way to put the circumstances in your favor is to be patient and continually share information that will be helpful to them in the long run. Dividing your list into seller and buyer leads, tailor your phone messages and script, postcards, newsletters and other communications to what they need to know.
For sellers, share stats and comps in their neighborhood every month during hot months and every quarter during slower times of the year. For buyers, share the listings that you think they would love to know about. This is where having kept careful notes about their needs and wants in a home come in handy.