[FIRSTNAME], are you making the one mistake that may be costing you $$thousands in commissions? 

I’d like to tell you a story about a friend called Lauri, who bought some years ago. Lauri was saying that she really liked the Agent who’d sold her the house. The service was great, and the Agent had even given her a “gift bucket” with handy things for when you first move in, like a can opener, a bottle of wine and some cleaning things. (OK, nothing “flashy” - but on the day you move in, flowers are nice, but a can opener can save the day, right?  She did mention the wine 3 times though….) 

Anyway, the point is that Lauri loved - and remembered - that gift.  But she couldn’t remember the name of the Agent.  Next time Lauri sells, she’d love to use that Agent - but she won’t!!  Like most of us, she won’t go to the trouble of finding the Agent.  Ask yourself - is that Agent missing out on some pretty easy commission (about $8,000) from Lauri when she decides to sell?    

DISTURBING FACT #1: More than 71 percent of buyers and sellers report they would use the same agent again. Yet less than 11 percent ACTUALLY DO!*

Another similar story - Narelle has a sister called Elise, who decided to move to the beach (and who wouldn’t!)   Now Elise really liked the service she got from her Agent last time. Elise could remember the name of her Agent, but not where she was.  But Elise was determined. She made some calls to track down this Agent and finally found her.  Now, if Elise hadn’t been so persistent, the Agent would have missed out on her cut of $14,000!!  But should Elise have had to work that hard?  And how many others won’t? 

Imagine if this Agent had kept in touch with Elise, regularly informing her about local property and other news, maintaining and building the relationship.  She could even have told Elise she was moving on to another office, and how to get in contact with her if she needed any help. 

Another Agent who should have known better, didn't send her Newsletter out to all of her past Clients for a couple of months.  Guess what happened?  She ran into an old Client, asking him if he was planning on selling, only to be told "I sold 2 months ago - I hadn't heard from you!"  

Cost - $11,400 missed commission!!

DISTURBING FACT #2: It takes 8 to 12 contacts per year BEFORE your sphere of influence starts to send you predictable referrals, word of mouth and repeat business* 

So far, with the 3 Client stories you've read about, there was $33,400 in commission that could have gone (and in 1 of the cases, did!!) to some other Agent, just because the original Agent didn't keep in contact!

How many times have you lost track of Clients in your career?  How much commission will you lose because you didn't keep in touch?  In a career of 20 years, if you miss out on 10 Referral or Repeat deals a year, that's about $100,000 a year or $2,000,000 over your career!!

[FIRSTNAME], what most Agents don't realise is this:

THE most important reason why someone will use your service is because they already know you firsthand, or another person whom they trust has recommended you.

 

It's all about building and maintaining your relationships with your prospective clients and clients.  Relationships are based on trust.  In fact, it's been reported (in the States, anyway) that 74% of all real estate transactions happen because of a relationship (direct knowledge, referral or repeat business).*  You cannot, in all honesty, expect to build a relationship with anyone without regular, frequent communication that's of value to your Client!

DISTURBING FACT #3:  For every MONTH you don't keep in touch with your sphere of influence or Farm, you lose 10% of your database.  If you don't keep in touch with your Farm and Networks, you will be nothing but a stranger in their eyes!*

Do you remember the last time you had a referral or repeat sale?  Was it easy?   Lauri and Elise’s Agents probably didn’t realise how much it could cost them!!   And the third Agent does because the lesson was learnt the hard way.  If you ask them, they would be able to justify the lack of contact and follow-up - the reasons are easy to find - “not enough time”, or  “nothing to say”.  

But really, is there ever a good enough reason for missing out on the easy business of repeat sales and referrals?  You just have to find a way to keep in touch with your Clients and prospects that’s:

   Easy          Quick          Convenient           Inexpensive   

     Monthly (See Disturbing Fact No. 3)

The easiest way to do that is with your own personal newsletter sent out once a month.  Once it’s written, you just send it out to everybody on your database - and they will always be able to find you!

Do you have your own personal Newsletter?  If you have, Congratulations!! You will already be getting the easy referrals and repeat business that is just the absolute cream of your business!  If you haven’t, please, please, please get one - beg, steal, borrow, scrounge, write it yourself - whatever you have to do to get a newsletter out to your clients and prospects every month - as Nike says “Just Do It!”

For an example of a personal Newsletter, email us for a sample of the My Local Newsletter, by clicking here, and see what you think.   

Remember - every month that goes by without you contacting your Clients and Prospects is another month when somebody else is!!  How much do you think you’re losing? And what other AREC promises are still waiting to be fulfilled?