Why Do Real Estate Agents Fear Calling Their Past Clients?

Wade Webb on April 27, 2022

real estate agent fear calling past clientsMy question this week is “why do real estate agents fear calling their past clients“?

So many agents ask me the question “Wade, what can be done that will generate leads and keep the marketplace aware of me and my business?” My answer every time. “Call your past clients!” It’s that simple. “Okay, Wade easy for you to say. What exactly does that look like?”

Past Client Call Script

(PC): “Hello.”

Agent: “Hi, this is Wade Webb from ABC Realty. I’m calling because you are one of my best past clients and I was just checking to see how things are going for you. Do you have 10 minutes or so for a chat?”

It’s important to speak in a caring tone and not speak too quickly. Remember to look in a mirror as you do these calls, as it can help you stay engaged. The feeling you want to create in the past clients is that your day is better because you’re talking to them.

PC: “Yes, I do, as I’m not going anywhere soon! What a nice thing for you to do Wade!”

Agent: “Thank you! I care about you and the other wonderful clients I’ve been fortunate to have. And I want you all to know that. How has life been the last few years?”

Contact from any other human being is a welcome distraction. Give your attention to someone and they will like you more.

PC: “Your call came at the right time, as I was sitting here wondering what to do next with my home. By the way, how is your family and business doing? I’ll never forget how pleasant it was to work with you.”

Agent: “How nice of you to ask! We, too, as we return to normalcy I am working to keep clients current and updated. By the way, I am curious about what my good clients like you tell their friends about the experience of buying or selling with myself. Would you mind telling me what you thought?”

Your goal here is to get the client to bring their memories of working with you closer to top-of-mind. Nothing else. You are not selling anything. You simply want them to be more likely to tell their friends how smart they feel having had you as their agent.

PC: “I’ll never forget how kind you were, in particular, you always made our day brighter.”

Agent: “What a wonderful thing for you to say! What exactly did I do that made such a good impression?”

PC: “You were kind to all the service providers we used. You never raised your voice, even when a problem arose. Our dog, Scotty, soon began anticipating your arrival! It was like you were more appealing than my spouse and me! And we had been so afraid of having to sell and buy in this difficult market.”

The key here is to probe, to find out what made your past client feel so good about your service. Express appreciation for the kind words offered by the past client and then ask a clarifying question or two.

Likely, if the call has gone well, your past client will not be soon to leave it. So how do you do a gentle close?

Agent: “Thank you so much for taking my call and our chat. Is there anything in particular you want to let me know before our call is over?”

PC: “Thank you so much for reaching out to me! I think of all you often. I remain so grateful for all you did for us. And I never think of reaching out to let you know. That will change now! And I’m going to tell my friends about your call!”

Agent: “That makes me feel so good! Please do stay in touch. Would you mind if I reached out to you in a couple of months, hopefully after things have started to really settle down?”

PC: “I would like that very much! Talk with you then.”

Now your past client has a nice experience, something to share with her spouse and her friends as the days go by slowly and you have a reason to stay in touch. Make notes of your call and reference the notes when you call her back. People love it when someone remembers what they said. There you go! That is what it often looks like when you start calling past clients. Not everyone will want to talk with you. That’s okay. The point is to reach out and given them the opportunity to relive their experience with you. Give it a try. You have nothing to lose and a lot to gain!

Strength and courage,
Wade

What Top Real Estate Agents Do To Build Their Business

Wade Webb on August 14, 2019

realtor build businessFor more than 25 years we have helped thousands of agents and brokers find better, easier ways to grow their businesses into profitable real estate practices.

Below are FOUR strategies that will help you generate more clients, and build a long-term viable business.

1. Prioritize Your Marketing Time, Money and Effort According To the QUALITY Of The Prospect/Market

“Quality” is defined as how well the prospect already knows you and how predisposed they are to use you over any other agent. You never want to chase cold prospects at the expense of higher potential prospects. So here’s how I believe you should prioritize your marketing:

Track your business with a “Power List” and market to them on a monthly basis (this is your “market share,” where 70% or more of your business should come from – more on this later).

Market off “Transactional Leads” (from your listings for buyers) and other listings (once you have them).

Work hot leads – follow-up is essential.  At the very least, you know they’re in the market to buy/sell, and most agents hopelessly ignore follow-up.

Do your research to select market niches that have the most promise, and work them (i.e. fish in a stocked pond). This includes geographic markets (farms) and specialty markets (resort, golf, vacation, etc.).

Work FSBOs and Expireds – but notice the low quality of this group.  We both know the reason, and here’s a revealing fact. The National Association of REALTORS® produces an annual research report called Profile of Buyers and Sellers.  It’s filled with lots of facts and figures, but the most startling fact they’ve discovered is that over 70% of all real estate transactions occur because the client either 1) knew the agent already, or 2) was referred to the agent from a trusted source.  This means that 3/4 of all transactions happen because of a relationship. Yet only 4% of all agents have any “systems” to harvest deep relationships and build market share.  So about 4% get the lion’s share of business and 96% wrestle each other over the scraps.  THIS fact alone is why I told you (above) to create a “Power List” of friends, family, past clients, acquaintances, etc., and market to them first and foremost.  They already know you and will trust you to represent them when purchasing or selling a home.

 

2. When Starting Out, Spend 80% of Your Time Prospecting

Cold prospecting because it has a terrible return on investment if you value your time.  Not to mention makes you feel like a sleazy person, always begging for business.  There are much easier, more effective ways to generate new clients.

However,  if you’re new to real estate or starting over, and have no money, you have to get the ball rolling. So, until you establish marketing systems and focus your time and energy on meeting new people and getting business. Remember to split your time prospecting into manageable simple 20 minute sections throughout your day rather than going longer and unfocused prospecting sessions. Who can’t put in a big day of powerful 20 minute prospecting session activities in their day? Don’t allow distractions (self-imposed or otherwise) to interfere with this task.  And remember, don’t neglect establishing other marketing systems so you can quickly stop manual prospecting.

 

3. Product-Ize Your Real Estate Services

The real estate industry is a mass-commodity of agents all screaming the same thing to prospects — professionalism, dedication, integrity, blah, blah, blah.  You need to be seen as DIFFERENT.   And in ways that are important to your target prospects.  So, create unique “products” out of your services.  For example: “Your Maximum Value Home Marketing Plan,” or “Preferred Buyer Program.” Another example: Rather than give CMAs, agents will offer a “Maximum Home Value Audit” to examine and determine ways to maximize the value of a home and sell in the least time.

The secret is to weave the greatest benefit for the client into the name.  Then, make a simple list of everything you do for the client as part of your program – even if other agents do it, it’s likely they don’t promote it, so you have the advantage.

 

4. Make Yourself A Self-Proclaimed “Specialist” in Your Market

Farming a resort area?  Make yourself a “resort property specialist” and title your product specifically to it: “Gold Canyon Golf Property Specialist” and “Gold Canyon Maximum Value Golf Property Program.” Use your creativity and match your services specifically to the market or type of property you sell. Your success requires intense focus on your highest priority activities.  This list will get you started down the right path of where to make changes to grow your real estate practice this year, and for the future. Be an expert at something rather than average at everything in real estate. People are attracted to the pros and experts of something first every time!

There you have four of the most impactful top producing strategies to put into action. I challenge you to take each one at a time and master them and let me know what happens to your business moving forward in 2019.

Strength and courage,
Wade