If you are thinking about entering the exciting real estate industry, it’s good you know that people are extremely satisfied with their real estate professionals these days. 

This means two things.  One, the competition is tough and you have your work cut out for you.  Which, after becoming a licensed real estate agent, won’t be too hard since you are now aware of this fact. 

It also means that repeat business is something worth capitalizing on.

The National Association of REALTORS® (NAR) suggests that 86% of buyers would likely use the same real estate agent again for their next home purchase.  However, it is estimated that only 25% of these same people actually go on to do just that.

But why, if people are so satisfied with their real estate agents, are they not using the same one for their next home purchases?

Well, there just so happens to be some solid reasons why people do not go on to use the same agent the next time they look to invest in a home. 

To find out what mistakes to avoid once you receive your Georgia real estate license, or any other state license for that matter, keep reading.

1. Losing Touch

Think about it.  How long will a client of yours likely wait before looking into purchasing another home?

If it is anything close to the average – which is 13 years – chances are you won’t be talking to your past clients for a long time.  This makes repeat business very challenging. 

Image Source - http://eyeonhousing.org/2013/01/latest-study-shows-average-buyer-expected-to-stay-in-a-home-13-years/

However, there are some helpful things you can do to avoid losing touch altogether.  For example, you might consider sending out a quarterly newsletter with valuable information to past and current clients. 

In addition, you will want to send out updated contact information should your phone number, physical address, or even agency change.

2. Not Marketing Thoughtfully

If you are looking to build your real estate business, it’s always a good idea to reach out to a wider client base.  After all, exposing your brand to new audiences is the perfect way to garner new business. 

However, it is just as important to market to those closely associated with your previous clients.  This way your previous clients are reminded that you helped them make a large financial decision and may consider using you the next time they need an agent. 

Plus, this will save you money since it is typically 6-7 times more expensive to acquire new clients than it is to retain existing ones.

3. Not Tapping into the Power of Social Media

These days, everyone is actively involved with social media.  While some previous clients may not want to deal with your newsletter, there is a good chance they will want to stay updated with local happenings with you and your agency on Facebook, Twitter, or even Instagram.

Tap into social media as a way to inform, educate, and inspire old clients to hire you as their real estate agent the next time they want to purchase a home. 

In the end, getting repeat real estate business is all about improving relationships with previous clients.  If you avoid losing these connections, you will be able to boast more repeat business than ever.  

Published by Arina Smith