Full Disclosure: How Realtors Can Turn Buyer Clients into New Listing and Keep a Consistent Flow of Repeat Business and Referrals for Life
May 1, 2022
Would you be willing to make 16 phone calls to a prior client in order to get an additional listing? These would generally be fifteen-minute phone calls, so this would be four hours of networking effort, zero cash spent, and a new listing and would be generating potentially 10k, 20k, or more in commission.
There is a consistent, predictable, reliable way to generate that result, especially for salespeople who are willing to invest in their long-term success. You do that by making 7-day, 30-day, and 6-month check-in calls. My last two articles covered the 7-day and 30-day check-in calls. Now we’re going to cover how to set a perpetual six-month cadence that nets you even more referrals and another listing.
You should set aside two times per year as your designated care call times. Block time on your calendar right now, before you even finish this article, and make it a recurring appointment. Depending on how many prior clients you have, you may need to set aside more than one day. But get it on your calendar!
When that day comes around, you’re going to call every former client you have whose 30-day check-in call was at least a month ago. And you’re going to show that you still care and are still there to help them:
Hi, I’m calling to check in on the home purchase I helped you with. It’s been ___ months/years since you bought your house, and in my experience, folks in your position often have some common things in mind. Can we take a few minutes to go over them?
- First, has your family grown or shrunk since we last spoke? (If it has, you can ask whether they need a bigger/smaller house.)
- Now that you’ve lived there for __ months/years, is it everything you were hoping for?
- What’s the one thing that could be different about the house that would most increase your enjoyment of it? (Depending on what your client says here, this is a great chance to be of genuine service and make a referral. And don’t forget, the people who give the most referrals also receive the most referrals.)
- Now that you have the property, have you had your estate plan updated to protect it? Although my firm doesn’t handle estate plans, I do recommend that everyone who purchases a house update theirs.
- Have you updated or shopped around with your insurance since you bought the property?
- Have you refinanced your home in the last year? (Depending on market conditions or the interest rate, making a referral to a good loan officer may put a substantial amount of money in the client’s pocket.)
- Is there anything about the property that’s been a surprise to you?
Consistently implementing this system over the course of your career doesn’t take long, and it will land you additional sales. You’ll get some additional sales as this system will impress your clients and persuade them to refer their friends. And you’ll receive some referrals back from the people you’re able to consistently refer to, which will lead to additional sales. And, if you play the long game, you’ll stay top-of-mind for your former clients, who will refer you five or more years after the sale because you maintained that top-of-mind awareness with your efforts now. Finally, if you stay persistent, you’ll be the person that client calls when they’re ready to upgrade. When that time comes, you can handle the listing on the old house and sell the new one.
On top of that, you’ll be of genuine service to your client, and you’ll have a meaningful chance to help them enjoy their home more.
Samuel Doncaster is the owner and founder of Fraud Fighters Law Firm in Phoenix, Arizona. He regularly handles SPDS Fraud and Real Estate Fraud cases. You can contact the firm at 480-666-4054 to help one of your clients set up a strategy session if they’ve been cheated in a real estate deal.