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Four secrets to mastering client retention

Housing Wire

There have been numerous studies done on client retention over the years, and while the exact figures vary, most suggest that it can be anywhere from five to 25 times more expensive to acquire a new client than to keep an existing one. Start by tracking your current business. Set, and stick to, client retention goals.

Clients 250
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How the homeowner management approach builds a moat around real estate businesses

Housing Wire

Historically, though, professionals let their clients go after the transaction is complete rather than building a moat around the client that assures future transactions. The newest prop tech applications to moat the client relationship are home management tools. Offer bundled services options.

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Real estate agents are bracing for the impact of the commission lawsuits

Housing Wire

In the nearly two months since a Missouri jury found the real estate industry liable for colluding to artificially inflate real estate agent commissions, Jason Posnick has fielded a lot of questions about commissions and cooperative compensation from clients. I was at a listing appointment for a $2.5

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The art of gift-giving in real estate: A personal touch

Housing Wire

John Ruhlin’s book Giftology sheds light on creating a strategic and thoughtful approach to gift-giving, offering real estate professionals a unique perspective on how to create positive impressions that last beyond the closing table and set you up for return and referral business. Add the clients’ names and the date of their closing.

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Real estate technology adoption in a post-pandemic world

Housing Wire

Agents, teams and brokerages are now seriously reconsidering the technology platform, tools and services needed to effectively do business today. The broker business is more competitive than ever before and as we look ahead to 2021, it will be those agents who rely on real estate technology who will forge ahead successfully.

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Why regular check-ins are the unsung heroes of agent retention

Housing Wire

According to the National Association of Realtors (NAR), the average tenure of an agent with a brokerage is six years. Quantifiable impact on business metrics Decrease in turnover costs When discussing turnover costs, most brokers consider immediate expenses, such as recruitment advertising and training resources.

Agents 413
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Breaking Up with Difficult Real Estate Clients

McKissock

The goal is generally to garner clients that will give you repeat business—and good word of mouth. As such, the thought of ending a client relationship may seem unfathomable. However, success—for both you and your clients—depends on a solid working relationship. Reasons to end a client relationship.