by Mayer Dallal
Lucrative income comes from referral and repeat clients. For real estate agents, repeat business is few and far between unless the buyers and sellers do so for part or all of their income. These real estate investors aren’t just another client – they’re the cream of the crop for realtors, potentially representing a massive portion of the annual earnings.
But it gets even sweeter from there. With investing clients, the opportunity to work both ends of the deal is higher, closes are often much faster, and there are far fewer headaches on average than one-off buyers and sellers who are rusty with the real estate process.
With real estate investors a sought-after client base that you’ve worked hard to capture, it can be just as tough to keep them. Other agents are actively trying to offer better service or more incentives to draw them away from you. Keeping your investor clients happy and connected to you requires intentional effort.
Here are four ideas to help you stay in touch with real estate investing clients once you’ve brought them on board. These ideas also help to attract clients away from other agents, if that’s your goal.
Send an investor-specific newsletter
Newsletters have been an excellent way to keep your name in front of your clients. However, investors aren’t as inclined to peruse an emailed newsletter if the content is too broad, irrelevant, or doesn’t capture their attention immediately. Rather than sending one email campaign to your whole mailing list, break it down into categories.
Send a newsletter to investors only. It’s less important to segment the part-time real estate investor from the mogul, but all of the information you send to them should be relevant to investing in some way.
Reach out with exclusive listings
If you have investing clients, you’re likely mining for leads they will be interested in purchasing. If you have another client who wants to sell a property that fits the criteria for one or more investors, give them a heads-up. Follow any rules about confidentiality and disclosure, but see how you can connect your buyers and sellers with exclusive listings that are mutually beneficial for both parties.
Or if you come across another agent’s listing that fits a current investor client’s MO, reach out. They’ll be impressed you’re working for their business and it will reinforce your standing as their agent of choice.
Incentivize your listing services
Whatever your listing fee normally is, ensure it’s more than competitive for your market. Other agents will be mining for business just like you do, and discounting their fees is one popular way they can ‘steal’ your clients away from you.
Don’t give your clients reason to pause. Provide the best service they’ve ever had at a great price so they don’t think about going with another realtor.
Offer no-strings-attached value
Do you have a network of connections that could be of service to your real estate investor clients? It’s worth your while to share your connections and create stronger ties with clients even when it doesn’t directly benefit you.
For example, if you have a contractor who specializes in flips or you have a property manager that has fantastic rates and service, send that information to your clients. Lead it off with a phone call, saying, “I was just thinking of you and thought you might want to connect with so-and-so.” It’s a great way of introducing your clients to products and services that benefit them like investor-specific mortgages from MBANC.