According to a survey done by the National Association of REALTORS, repeat clients account for an average of 20 percent of most real estate agents' business. And even more significant, higher producing experienced agents reported that up to 40 percent of their business was coming from repeat business.
Then when you add that another 24% of business was coming from referrals from existing clients, it paints a picture where up to 64% of business can be generated by referrals and repeat business. That's two thirds!
WHY STAY TOP OF MIND?
With two-thirds of your business potentially coming from existing clients, these stats make a very compelling argument for the power of staying top of mind with the contacts in your current sphere of influence.
But there is another compelling reason for staying top of mind, and that is that it's highly cost effective, because it leverages the return on investment that you have already made in them getting to know you, and of course, the great work that you can do. And more than just leveraging this investment, it also leverages the investment you've made in the years of training and business experience that has made you who you are.
And just compare this to the high cost of generating leads from people who have never met you, and still need to be convinced of your capabilities.
MORE THAN JUST REMEMBERING YOUR NAME
Staying top of mind is more that just people remember your name. It is helping them to remember the positive experience they had from working with you.
This positive experience with you a very precious commodity. This is pure gold! Do you really want to dilute it with an annoying drip campaign that just touches, but doesn't deliver value to your client? Or almost as bad, do you want to dilute it with a mere refrigerator magnet that might only make the statement that you support your local sports team? Your personal brand deserves better!
Ideally you want to be stay top of mind with touches that deliver value to clients and shows them that you respect the privilege they have given, of allowing you to keep in contact with them on an on-going basis. And further, these should be touches that help build your personal brand, not dilute it.
Of course at APPLICA Solutions, we believe the best way to do this in the real estate business is through providing each of the clients in your sphere of influence with monthly home care reminders and tips that are highly personalized for their particular home and their specific goals, through multiple channels (email, mobile app, social media, web enhancements, and local contractor recommendations).