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It’s All About Relationships, Not Transactions

The best real estate agents realize that their business is one of enhancing relationships – not just doing transactions. That is why the top producers do so much business by referral. They have created the type of relationships that lead to a previous buyer or seller wanting their friends and relatives to experience the same great service they received in the home buying/selling process.

The amazing thing is this type of business is available to all agents. According to the National Association of Realtors (NAR), 85% of all sellers at the close of a transaction say they would either definitely (69%) or probably (16%) recommend or reuse the same agent. The percentages are even higher on the buying side: 89% of all buyers at the close of a transaction say they would either definitely (72%) or probably (17%) recommend or reuse the same agent. The challenge is that less than 20% of the consumers actually do.

Where Is the Disconnect?

Many agents go to the closing, pick up their check and then immediately start concentrating on their next transaction. But what message does that send to the buyer, seller and the other professionals (ex. mortgage professional, attorney, title closer and other agent) in the room. You came, got your check and disappeared. You seem to be in it just for the money.

You must make sure that you continue to foster a relationship with your buyers and sellers past the closing. Keep in touch. Send them pertinent real estate information on a regular basis. Let them know you are in the business for more than merely financial reasons.

As an example, let’s look at KCM member Roy Minieri of RE/MAX Platinum in New Jersey. Roy just left a management position to return to where is heart always has been – sales. However, he didn’t have to start all over again. Roy stayed in touch regularly with his former clients and acquaintances over the years. The result? We were on the phone with Roy yesterday. He has taken four listings and sold two homes in the last seven days.

Does building relationships with your clients pay off in the long run? DEFINITELY!

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