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Article #35: How to Build a Repeat & Referral Based Real Estate Business

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However good your skills are in direct mail to their clients on an
negotiating and selling real estate, any annual, quarterly or monthly basis.
marketing professional will tell you that Designed pieces include postcards,
they are not enough to retain your letters, and folded card formats and can
clients. Communication is vital to include calendars, recipes, sports
winning and keeping clients for your schedules, magnetic dry erase boards and
business - building rapport and earning more. The contents are fun and full of
respect are vital. Clients do not just helpful and informative tips for the
buy your services; they buy your agents' clients. Some subjects for
continuous support and that means example can include home improvement tips
maintaining that important element of or knowing when to refinance. Each piece
human contact. works to keep our agents name in front of
Without that human touch, your business their clients year round and also prompts
will lose clients. With it, not only will their clients for onward referrals.
you retain clients but you will gain Agents can keep their client list up to
referrals. Statistics show that it is date all year round by simply faxing a
less expensive to keep a client than gain client update form to us, that way the
a new one. Most of us know the 80/20 rule mail count is always accurate. The
- that 80 % of business comes from service is competitively priced and pays
current clients and 20 % from new ones. dividends as agents get referrals from
But were you aware that according to the clients already in their book of business
Harvard Business Review it costs up to 8 by the most powerful medium of all - word
times more to gain a new customer than of mouth. In the competitive world of
retain an old one ("Zero Defections" by real estate, that's a solid gold
Frederick F. Reichheld & W. Earl Sasser, guarantee not only of continued repeat
Jr.). If you do the math you will find business but of new business as well.
that the 20% is only worth 4 % of your Sarah Reiter is president of Creative
business in real terms. You do not want Agent Solutions, a virtual marketing
to lose your past clients! company that specializes in real estate
As president of Creative Agent Solutions, services. Creative
an Arizona based virtual real estate Agent Solutions is a member of the
marketing company; I can say one of the International Virtual Assistants
main features of our real estate Association (IVAA), the Southeast Valley
marketing service is to utilize a Client Regional Association of Realtors (SEVRAR)
Database Management system that allows us and Scottsdale Association of Realtors in
to maintain communications for our agents Arizona (SAAR), as well as a Certified
with little effort on their part. We Virtual Assistant
formulate a desired contact strategy with (CVA) with the Settlement Room.
agents and produce 100% customizable






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