5 Mistakes Kill Real Estate Relationships

Mistakes Kill Real Estate Relationships

5 Mistakes That Kill Real Estate Relationships

Most of you are regular readers of our blog. You realize that we continuously cover the value of building upon your relationships, expanding your Sphere of Influence (SOI), and being in regular contact with your contact base.  Repeat and referral business is the foundation of your real estate career, and they are only received through the relationships you have built.

For some people, building solid relationships comes second nature, but it takes a bit of work for some agents. Especially so when you feel bogged down with paperwork, trying to prepare the paperwork to list a property, hosting open houses, and attempting to manage your personal and family life.

With all these things on your plate, can you still build meaningful relationships that can develop and grow into satisfied repeat clients? Or do you find yourself making 5 Mistakes Kill Real Estate Relationships?

Personal relationships are the fertile soil from which all advancement, all success, all achievement in real life grows. Ben Stein

Let’s look at five mistakes that agents often make that inadvertently undermine your relationships and the ways to make sure that you don’t make these also.

Mistake #1: Not keeping detailed notes.

For many years, I tried to rely on my good memory to keep track of important details about the people I knew. Well, after a few embarrassing mistakes, I knew I had to adopt a better system for keeping notes and details about my clients, so I could have more genuine conversations with them by remembering past comments and details that they’ve previously discussed with me.

Keeping accurate notes and details regarding your past contacts and clients in your CRM will assist you in having more meaningful discussions. You should be keeping details about their family, pets, children, grandchildren, major life events, and whatever else you think is important to remember. This allows you to stay connected with your clients on the same level and create stronger relationships. By doing this, your contacts feel appreciated and will be amazed that you remembered the information they’ve previously discussed with you!

Mistake #2: Not calling on their Birthday.

Birthdays are the perfect opportunity to strengthen your relationship with a past client or contact. Think about it. Only people that genuinely care about you call on your birthday. Be that person and make that call.

Let’s face it, a well-wishing post on Facebook is fine, but it’s not as impressive as actually calling your client and speaking to them personally. And it’s effortless to implement!  Your CRM automatically reminds you when someone’s birthday is approaching.

Mistake #3: You aren’t using emails to stay in touch.

The main reason clients don’t use the same agent is that they’ve probably forgotten your name! How can you make sure that this doesn’t happen to you? Consider sending a bi-weekly blog article full of useful and valuable information. This allows you to stay top of mind with your contacts.

By sending regular emails, this shows that you are active in the marketplace, and you are knowledgeable with all real estate topics, so when your past clients are ready to get into the market, you will be top of their mind.

Mistake #4: You don’t respond quickly enough.

People today expect things to be done fast. When a new prospect or someone referred to you contacts you, whether it’s by phone, email, or through your website, you must ensure that you respond to them as soon as possible. You should always strive to respond to all such inquiries within 30 minutes.

Most CRMs are set up to automatically add contact information entered into your website directly into your contacts while instantly replying to them with an email to advise them that you will contact them very soon.

Mistake #5: You’re not a bank of knowledge.

When someone has questions about anything to do with real estate, it is reasonable to think that they will contact you for the answer. If you are unable to give your clients the information they’re seeking, they will probably ask someone else. If your client wants you to refer them to a mortgage broker, a home inspector, or a renovation contractor, you should be ready to refer them to one. Work on building relationships with local service providers. Continuously build upon your business contacts, so you’re able to show your contacts that you’re the “bank of knowledge” they can rely on.

Key Takeaways

Building relationships takes time. Each lead you receive is not going to turn into an immediate commission. Some leads require a longer term to develop. Building relationships isn’t that difficult. With the proper systems, you will stop making the mistakes mentioned above, and you’ll be utilizing your CRM to solidify your relationships.

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