17 August 2018
Your contact database is, arguably, your most valuable real estate marketing asset. It includes current and long-term prospects you’re working, business contacts you’re nurturing, and past client relationships you’re building.
Of the three, past clients are the group that sometimes get neglected by agents. In fact, it’s not uncommon for an agent to have a few previous clients they haven’t been in contact with for years.
When you consider that the average past client is in a position to recommend you two or three times a year, the loss in potential real estate leads and real estate client referrals adds up. Fast.
We discussed re-engaging with previous clients in an earlier blog post. But what if you have a client in your database you haven’t been in touch with for several years? To them, you may have become a distant memory. Is it worth attempting to re-establish that client relationship?
It definitely is. Getting even one new real estate referral from that client, and that client’s next move, makes it worth the attempt.
Here’s how to reach out:
Step 1: Call them.
Pick up the phone and call your old client. Let them know that, although it’s been a long while, you’ve been thinking about them and ask if you can meet (safely.) If a meeting isn’t possible, request a ZOOM call. Your goal is to get some genuine face-to-face time with the client.
Step 2: Apologize.
When you meet with your old client, apologize for not staying in touch as often as you originally intended. You don’t need to make too big a deal about it. Simply say something like, “Ena, I meant to stay in contact with you and Tom. I’m sorry for letting the years slip by and not keeping in touch. I’d like to make up for that now.”
Step 3: Be the resource.
Ask your client if they have any questions regarding the current value of their property or the local real estate market. Offer to answer their questions and provide any advice they need. Remind them that, although it’s been a few years since you last worked together, you still consider them a valuable client, and you’re there for them whenever they have questions or need real estate help.
Step 4. Offer value.
Commit that you’ll stay in touch with them regularly. To do that, say you’ll be mailing them a valuable real estate newsletter each month. Then, go over a current issue with them. Show them examples of the tips, how-to articles, and market updates they’ll be receiving.
In addition, let them know that you’ll be staying in touch in other ways via phone calls and an annual real estate checkup.
By taking these four simple steps, you stand an excellent chance of rebooting that old client relationship and, as a result, the probability of getting real estate agent referrals, as well as that client’s next move, goes way up.
Takeaway: Don’t let an old client slip away. It’s never too late to re-establish that relationship.