Are you like me? I tend to overthink things. A lot. Sometimes, just making a grocery list is a battle.
Luckily, one of my mentors recognized this early in my career. He helped explain that success in this industry is all about building relationships, not necessarily about making a sale.
Yes, I know REALTORS® get paid when they make the sale, but the most successful are doing something a little better than those around them. By paying attention to detail, building a referral network and communicating well, and most of all, understanding the lifetime value of a client, they guarantee success in the business.
There's a simple, four-step process to building your business and ensuring that it will keep growing. And it works in almost every industry, not just real estate. We've boiled it down to the essentials: Know Me, Like Me, Trust Me, Remember Me.
During this initial stage, you're letting the customer know that you're there to help them. They've seen some ads and listings, maybe checked out your website and they are interested in considering you to help them with their next real estate transaction.
The second stage is more involved. At this point, they realize that you can help them and that you can help them sell or buy a house. They will have done some research about you by looking you up on social media. Depending upon the type of consumer they are, you've made the short list of agents they'll consider or you've been chosen.
Many people think that this and the "Like Me" stage are almost the same. But the reality is that you won't have their trust unless they like you first. And though you may have even made a sale, you can still do some things to turn them from a one-time customer into a client.
At this stage in relationship marketing, you have become their go-to person. If they're ready to sell, they won't consider listing their home with anyone else. At this point, they're working for you, too. When a friend asks for a referral, they don't hesitate to give your name.
This process has helped me to identify opportunities and areas where I can improve my relationship with each individual client. By understanding where you stand and working to develop effective real estate marketing strategies, you’ll turn customers into clients.