Listing Icons: Is Adopting Abandoned Buyers Stealing or Smart?

Does Closing and Running = Abandonment

I decided it wasn’t worth the trouble.  We both know the truth.  I don’t need to share charts, survey percentages or statistical bona fides, do I?  The truth is plentifully self-evident.

The average and ordinary majority of selling agents, DO NOT stay in touch with buyer clients after closing.  The deal is done, it’s time to run.  Fresh leads needs chasing and an uncertain future needs feeding.

At first blush, closing and running seems logical, maybe even smart.  After all, gleefully settled buyers won’t be moving for years, why waste your finite attention on a years-distant possibility.  Bills need to be paid now.  Right?

Dead Wrong!  Closing and Running is abandonment and financially unwise.

Why?  Because of this – The Three People Principle.

The buyers who chose you and now know and trust you, they know three people at work, at worship, in Katie’s Girl Scout Troop, at BUNCO, or wherever, they know three people who are going to move in the next year.  Invest attention in these fans friends people and you’ll earn referrals, accompanied by recommendations.  These are the best leads, are they not. And they’re free. Well almost free, you have to invest some emotional labor to remain relevant and remarkable and therefore, recommendable, but that’s easy.  It’s what you do.

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So, staying close and relevant is smart and profitable. Agreed?

But wait, there’s even a higher level of business cultivation.  Wise ones capitalize by monetizing the mistakes of  the average and ordinary majority.  Some might consider this business-getting tactic – stealing.  I call it smart.

Listing Agents, Listen Up – Are You Adopting Abandoned Buyers

Pretty straight forward.  The average and ordinary majority of selling agents abandon their buyers after closing. When you’re the listing agent, grow your success by cultivating a relationship of relevancy and trust with the abandoned buyer of your listing. Yes, you heard right.  I believe you should adopt the abandoned buyer and become their Go-To-Girl for all things home, community, lifestyle and real estate.

The How-To varies from person to person.  I wouldn’t presume to tell you what you should do or say.  But, I will share a few directionally-correct ideas.

1. After closing, mail a handwritten note card.  Wish them well, welcome, etc.  Of course, include two business cards.
2. Thirteen days after closing, between 2:37pm and 7:57pm, stop by in person and see how things are going.  Follow-up your visit by mailing a handwritten note card (nice talking to you, blah, blah, etc.). Use purple ink, a hot-pink envelope and a real postage stamp.  Just kidding.  Doesn’t matter what time you stop by or the ink and envelope color. I’m not kidding about the stopping by or sending the note.
3. While you’re visiting (in person) ask for permission to stay in touch.  I’d say something like this, “Hey, would it be ok if I touched base from time to time to see if your need anything real estate related?” or “Hey, I send monthly market report updates to my friends, I’d like to include you, would you be offended if I shared my market report with you?”
4. If you’re granted permission, include these fine folks in your thoughtfully created Top Of Mind Awareness campaign.

Smart or Stealing

I believe it’s smart for listing agents to adopt abandoned buyers.  Some might think it’s stealing.  I don’t.  If they’re abandoned, you’re not stealing.  If they aren’t abandoned, and you ask for permission to stay in touch and the say, “No-Thank You”, then don’t.   Some will, some won’t, so what, next.

Pretty simple, but uncommon.  Are your actions uncommon?

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Thanks for reading. Cheers.