Ditch “Transactions,” Be Relationship-Based

Realtors® fall into one of two categories: relationship-based, or transaction-based. The difference is, clients *want* to work with one type, and run from the other. According to our own data, only about 11 percent of clients will use the same Realtor® to sell their house as they used to buy it.

That’s sad.

When Realtors® send regular newsletters to their clients after they close a deal, that same number increases to about 17 percent. Think what could happen if you fostered that relationship even more.

It’s time to stop being a transaction-based Realtor®. Instead, invest in building relationships and watch the referrals and recurring clients roll in.

Habits of a transaction-based agent (a.k.a. what not to do):

  • Drops all communication once the home-buying process is complete.
  • Is closed off, rarely available, hard to reach.
  • Holds strict and narrow contact hours and refuses to communicate through creative channels like social media.
  • Asks pointed and leading questions that steer clients into looking at homes that are over budget or do not match up with their wish list.
  • Knows only generic and basic information about clients, their families, their lives, and their dreams.
  • Gives up on pickier clients or indecisive clients, or tries to talk clients into houses they are not excited about.
  • Hinges conversations around numbers.

Habits of a relationship-based agent:

  • Contacts and follows up with clients throughout the entire process, including after a purchase is made.
  • Gets to know clients on a personal level.
  • Communicates through channels and at times that is convenient for the client.
  • Listens more than he or she speaks.
  • Builds trust.
  • Allows clients to steer the conversation and responds with appropriate ideas and suggestions.
  • Interprets clients' desires by asking thoughtful questions.
  • Takes note of clients’ personal style as it pertains to a home, and guides with that in mind.
  • Keeps a positive attitude.
  • Never rushes through the process of home buying, even with picky or challenging clients.
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