Why Providing Value Matters in a Hot Market
In a recent LinkedIn post, the Chief Economist for the National Association of REALTORS®, Lawrence Yun, made a staggering observation.
“There are more NAR members than listings in the marketplace – a very rare occurrence,” writes Yun.
Despite this competitive market, Yun noted that agents are still extremely busy and working diligently to get their deals done. Which agents has he observed as the most successful? The ones who prioritize service beyond the transaction.
“The successful ones always say the same thing,” writes Yun. “Serve the client’s long-term best interest and get the referrals and recommendations for business growth.”
There’s a reason why referral-based businesses can thrive in any marketplace: they are based on relationships instead of transactions. In a market where everyone is competing for leads, the agents who have spent years nurturing client relationships are more likely to receive referrals (the highest quality lead) than agents who disappeared after the contract was signed.
So how can you build and maintain client relationships that can fuel your lead generation in any market? Providing consistent value is the best way to stay top of mind with past clients to create future referrals. Here are a few tactics to incorporate into your value-add real estate marketing strategy.
Give Market Updates
Even if people aren’t actively buying or selling, they will always have an interest in what the real estate market is doing. Aggregate what the top real estate leaders are saying about the market and distill it for your clients to keep them informed. You may choose to do this over Facebook or Instagram Live, an emailed video or a print mailer. Oh by the way, real estate legend Brian Buffini offers plenty of source material on his podcast, “It’s a Good Life,” and on his Facebook Live broadcasts.
Send Monthly Mailers
Snail mail is alive and well! Plus, it’s fun to receive. Create value-add marketing flyers and mail them to clients each month. Don’t just focus on real estate topics — give clients information that can benefit them in other areas of life too. Topics like home improvement, personal finance, productivity and personal growth demonstrate your competence and character outside of real estate and give clients a more complete picture of who you are. That’s a must when building a lasting relationship!
Write Personal Notes
Nothing will cost less and bring you more success than personal notes. Use personal notes to check in with clients, express gratitude for their repeat business or congratulate them for a milestone. Don’t forget to always send a thank you to those who send you referrals!
Deliver Appreciation Gifts
Drop off small client appreciation gifts — also known as Pop-Bys — as “unexpected extras.” They don’t have to be extravagant — you may drop off flower seeds in the spring, pool-day essentials, s’mores kits or anything else that goes with the season. Attach a small tag that reminds the recipient that you are never too busy for their referrals. This small action shows your clients that you care about them and their business, and they will remember this the next time someone they know needs an agent.
To stand out in this competitive real estate market, agents must double down on their own value-add real estate marketing strategy. Buffini & Company Referral Maker® PRO real estate marketing kit can help. This monthly kit includes unique, beautifully designed marketing mailers, digital eReports, notecards, Pop-By tags, market reports and so much more.
Sign up for a free business consultation to learn how Referral Maker PRO can help you grow your business!
