The National Association of Realtors reports that 87 percent of homebuyers worked with a real estate agent to purchase a home. Customer loyalty is critical in the real estate industry as agents tend to rely on referrals from existing customers to help build and sustain their business.
Customer loyalty is not about price or money, but instead is all about perception. Customer perceptions are based on previous experience, reputation, self-promotion and how you show appreciation.
Loyal customers visit more, spend more, and are evangelists for your brand in any industry.
First time clients and repeat clients have one very important thing in common- trust. Client relationships go beyond the closing. Here are few tips:
One of the challenges facing real estate professionals when it comes to rewarding loyalty is budget. While it’s nice to show appreciation through the little things, sometimes we want to reward our clients with something more. Many agents and brokers have to dip into their own funds in order to provide rewards to loyal clients.
We recently surveyed various real estate industry professionals (agents, brokers, lenders, and more) to find out how gift cards are being used in the real estate industry. Here is what we discovered:
Using gift cards is an affordable option for loyalty rewards. They are one of the most requested gifts across all channels (i.e. loyalty, rewards programs, points programs) and for new homeowners, providing a gift card is gratifying, thoughtful, and functional. They are multifaceted and also perfect as sales incentives for agents, open house drawings or giveaways, and client referrals.
Purchasing gift cards at volume discounts from stores like The Home Depot® stays in budget & gives clients a gift they can put towards their new home.
Relationships with loyal customers need to be nurtured in order to flourish. Showing your customers that you appreciate them for supporting your business is an easy way to retain relationships. Here are a few simple client appreciation ideas for realtors:
Customer loyalty needs to be established and continually nurtured. These customer loyalty tactics are important for attracting new customers, maintaining existing relationships, and building your overall business.