Real Estate Practices for Client Retention

When a broker doesn’t have a clear-cut customer experience strategy in place, he reduces his chances of client retention. 

Some real estate brokers work rigorously to close a deal, then move right onto a new lead. But successful brokers know that there’s value in client retention. One client could open doors to hundreds other potential customers, but these referrals cannot come without first establishing a strong relationship.

Real estate professionals need to live out customer service everyday, always aspiring to deliver beyond expectations. Simply put, the service they provide cannot be any less than excellent. It should be part of their lives, flowing naturally like it’s second nature. It’s only through this that a broker can build a strong referral base and reinforce the reputation of his business.

One of the most essential qualities of delivering customer service is to ensure transparency in every step of the process.

Quality interactions are what cultivate relationships with clients. Thus, it’s important to foster a culture of properly corresponding with clients. When a client sees that their broker is not only empathetic to their journey of finding a home but also polite in manners of correspondence, they recognize that they are in good hands. These qualities build trust and ultimately ensure client retention.

With transparency at the core, brokers can increase the chances of client retention through these four practices.

Rely on information rather than assumption

Brokers should never assume what their clients want, and instead base what their actions on sufficient research. When research is performed, a broker can understand what their clients like and don’t like and produce better results. One can never put client behaviors into a box, because they constantly change, especially with the emergence of technology.

Through online real estate portals, clients can perform many of the initial steps of buying a home on their own, in the comfort of their own space and time. But brokers still have the responsibility to help clients weigh their options and understand the ins and outs of their prospective purchase.

This, once again, reinforces the need for research. In essence, brokers have the ability to use researched information to guide their clients. In return, clients place their trust in their agent’s expertise because it’s backed up by data.

Rebound from mistakes as fast as possible

Encountering obstacles and committing mistakes are unavoidable in real estate, but a broker’s key to success depends on the rebound. Pretending like nothing happened and walking away are not the kinds of characteristics that will assure the client that their broker has their back. But brokers who take ownership of the issue and go above and beyond to resolve will. It requires more time and effort on the part of the agent, but it’s what will establish trust.

Anticipate what customers don’t see

Sensitivity is key to delivering outstanding service, because a broker can meet their clients’ needs instantly. Sensitivity brings out responsiveness, which proves to the client that a broker understands the urgency of his needs. More than that, however, it lets brokers get ahead of any issues that could arise, ensuring a smooth-sailing transaction.

Be there for the client even after the transaction

Brokers who position themselves as a resource for their clients – and any of their clients’ connections – from the onset position themselves for success. They establish themselves as a one-stop shop for everything related to their home: move in issues, advice with interior design, referrals to electricians or plumbers. Whenever a broker can display his expertise, clients will realize as well that their best interests are in mind.

Quality service delivered with transparency will build the trust necessary in creating lifetime clients.