Not all clients are relocating within the same neighbourhood or region. Some of the most promising real estate clients may be making a move from another country or far-away community. While these can be great opportunities with the potential for more business down the road, there are also challenges to ensuring a smooth interaction. Here are some suggestions for working with long distance clients.
Most of us remember a time in our lives when we got advice from a wiser, experienced individual. Perhaps it was a summer camp counsellor that motivated you to break out of your shell or a college TA that took extra time to help you understand a challenging concept. Just because you’re no longer in school doesn’t mean you can’t benefit from the guidance and support of an experienced professional. Here are a few ways to find and build a mentor relationship.
The self-employed freedom of working as a real estate agent has plenty of perks. But with it comes the difficulty in defining work hours from your personal time. Often the lines blur and agents find themselves taking calls during dinner or running out to a client’s home for an emergency. If you’re finding it difficult to carve out sufficient “me time”, here are a few tips.
In a sea of online advertisements, direct mail remains a powerful, long-lasting tool for getting a message across. Much of this is owing to the tangibility of physical mail. In order to better understand the influence of physical mail compared to digital advertisements, researchers at the Centre for Experimental Consumer Psychology at Bangor University used fMRI scanning technology to see how the brain reacts to these different types of media.
As retailers push their e-commerce divisions and promote online sales, traditional methods of shopping via print catalog has fallen by the wayside. But major department stores have come to realize that abandoning their traditional catalog business could trigger a dip in sales.
Millennials now represent the majority of first-time homebuyers and make up one third of homebuyers overall. Appealing to millennials– those born between 1981 and 2000 – could be a smart way to boost your business. In addition, younger clients have greater potential to turn into repeat business since you’re establishing a relationship early on in the home ownership journey. Here are a few ways that you can help draw in and retain more millennial customers to your real estate business.
Direct mail advertisements are still going strong. Despite the growth of digital advertisements, direct mail continues to proliferate as an efficient, proven marketing strategy. While direct mail took a hit following the 2008 recession, the rates have since stabilized. And, in fact, according to Experian Data Quality Group, total spending on print advertising mail is expected to rise from 11 percent to 12 percent by the year 2020.
Some of the highest-earning real estate agents have reached their levels of success from excellent rates of repeat business. A survey from the National Association of Realtors says that repeat business accounts for a median of 21 percent of sales and the rates are even higher for those with 16 or more years of experience in the industry – up to an incredible 40 percent. On top of that, referrals accounted for an additional 21 percent of total business.
Clearly, happy customers and their family and friends are an incredibly powerful demographic to harness. Every agent should strive to build on repeat clients as part of their business model. To make one transaction lead to many more down the read, there are a few things you can do as a real estate agent to encourage repeat business.
Humans tend to prefer the path of least resistance. When it comes to understanding and remembering things we’re exposed to day-to-day, our brain follows suit. It’s something referred to in the world of neuromarketing as “cognitive load”.
We may have been trained or led to believe that we should leave our emotions at the door the moment we step into the office or meet with a client. But in a highly personal business like real estate, being attuned to the emotions of your clients and the people you interact with can actually be beneficial.