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Real estate sales professionals have long understood that one of the most valuable
sources of new business is referrals. Developing personal relationships with clients
leads to future business. According to the NATIONAL ASSOCIATION OF REALTORS®, real
estate professionals reported that 66 percent of their business was a direct result
of a referral. Referrals include friends, family and associates of satisfied customers.
Leading real estate professionals have built strong businesses by playing the expanding
referral game-using their family, friends and associates to grow their sphere of
influence.
There has been a shift in marketing in recent years, however. Multiple brands of
commodity products are constantly jockeying for position as the preferred choice
among consumers. Advertising budgets and advertising messages have increased dramatically.
The average consumer is barraged with over 5,000 mass-marketing advertising messages
every day. It's information overload. Some real estate professionals try to break
through all that clutter with mass-marketing messages of their own.
With all those messages out there each day, most real estate professionals find
it difficult to rise above the clutter, to stand out when they talk to you. Interruption
marketing just doesn't work well in real estate.
Relationship marketing is not a new concept. It was the way most people sold products
in the pre-industrial revolution days. They knew their customers by name. They did
business with their neighbors and friends, and they maintained a close personal
relationship through regular communication.
Developing a personal relationship with your clients is a proven method to generate
new business. It involves a long-term commitment to communicating with them, identifying
and meeting their needs. For the busy real estate professional, a personalized direct
mail marketing program is the most valuable method to provide that consistent one-to-one
communication to a large number of their past and future customers.
Knowledge, care and commitment will always be important to consumers. The very best
way to remind your clients and prospects of your skills and abilities is through
the use of professional, valuable newsletters and client follow-up programs.
Start Off on the Right Foot, Have a Plan
Don't Forget About Relationships
How Does Your Networking Rate?
Glossary of Terms
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