The life time value of a client
Have you ever thought about what the life time value of a client means to you?
Most people buy several homes during their lifetime. Their first home, (starter home) their move up home, their dream home, their downsize home and the well…their retirement home. Let’s see that is five homes. Now if we are able to serve them well during each transaction then that is a lot of business for us.
I know personally there is one house I have sold four times in Saline. That is a lot of commission. I sold it to some folks moving in to Saline the first time. Then they got transferred and I listed it and represented both the buyer and the seller the next time. That is four times I have been paid on this home sale.
So there you have it 4 times.
The current home owners are still living there and their son just graduated from high school in June. They still have a daughter in high school.
Have I stayed in touch with them?
You betcha…..
I have no idea when they will move, if ever. But, by staying in touch with them and rejoicing with them in the major events of their lives…I am hoping they will work me when they decide to sell and downsize.
Current relationships are easier to maintain
It is easier to maintain the relationships we build than to gain new ones. I am all about building new business and one way I do that is through my lead generation strategies. But, oh… it is so much sweeter and easier when they trust you and the relationship already built.
Establishing the life time value of a client is much easier. Trust is already established,you know them, they know you, they respect you and trust that you have their best interest at heart. As much as I love meeting new folks and generating new business, working with past clients is the heart and soul of a successful Realtor.
Reach Out
During this upcoming holiday season, reach out to those who you have done business with in the past. If you know of a Realtor who is not renewing their license, connect with them, offer to take care of their past clients. Have them write a letter of introduction for you and then follow up. Bring them into your sphere. Cultivate those relationships and make them last a life time.
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