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According to data from the National Association of Realtors, nearly 90% of home buyers and sellers say they would recommend their real estate agent. Unfortunately, many don’t recommend their agent because they forget their agent’s name, says Shay Hata, team leader for BHHS Chicago’s Buy Sell Love Chicago team. That’s because many agents are focused on how quickly they can move from contract to closing to the next client, instead of post-transaction follow-up (PTF), points out Isaiah Hazward, real estate agent and director of sales at Coalition Properties Group in Washington, DC.
To ensure your team doesn’t miss out on the repeat and referral business that PTFs generate, Hazward says it’s important to “take the strain off your agents.” Streamlining some of that outreach can help agents focus on what they do best: selling real estate. Here’s how to do it:
Providing perspective
Explain to your agent that real estate is a long-term game. According to data from the National Association of Realtors, buyers expect to stay in their home for an average of 15 years. That’s why you need to take the time to build relationships with clients and keep in touch long after contract date. With a good PTF, agents who’ve been in the field for more than two years should expect at least 80% of their business to come from past clients and influencers, Hata says.
Organize your follow-up
To help agents stay on top of PTFs, Hazward and Hata recommend automating it with an integrated CRM and transaction management system. Once you’ve selected a system (Hata uses Realvolve, Hazward uses Brivity), create follow-up messages and newsletters and establish a workflow.
Because the workflow is initiated on the settlement date, message content can be tied to the stage of homeownership. For example, an email sent to someone five years after settlement could suggest replacing a sump pump. Then, engage an admin to help individual agents understand the system and customize messages to fit their communication style. After settlement, agents simply initiate the client’s workflow, and the system automatically sends targeted messages. Additionally, agents can create holiday cards or weather-related newsletters for agents to send to their database.
Encourage further outreach
In addition to these automated messages, Hazward suggests that agents make sure to also call and text. Of the 36 times customers hear from Coalition after closing, roughly two-thirds are event invitations, calls, or text messages, he explains. To engage your agents, follow Hata’s lead and program your CRM to send quarterly text reminders to customers. Also, encourage agents to follow and engage with customers on social media, so they can better understand their customers’ life events (like moving).
Automate reviews
To further ease agents’ burden, Hata suggests using RealSatisfied to automate customer reviews. All agents need to do is enter their customer’s name and email address, and whether they’re a buyer or seller. The system then sends the customer a survey and review request. When a customer leaves a review, the system generates a post about it that can be shared on realtor.com®, Facebook and Twitter. The customer is also sent a thank-you message with an e-gift card.
Make gifting easy for clients
Gifting clients shouldn’t just be limited to closings or holiday seasons: if agents want to stay top of mind for their clients, giving clients little trinkets to celebrate milestones and life events can go a long way.
To send gifts, Coalition agents simply use a basic app built with Jotform. They choose from a curated gift selection, enter basic client data, and Coalition admins handle the rest. Meanwhile, Hata’s team has set up specific gifts for specific occasions: branded onesies for babies, wind chimes for bereavement celebrations, chocolate-covered berries for a new job, branded poop bag holders for a new dog. This method streamlines the process and makes it easier for everyone.
Host an event
Both Hazward and Hata recommend hosting a gathering like an annual client appreciation party. Because planning a party takes time that agents can’t afford, Hata suggests brokerages have staff do the homework and that individual agents pay a flat fee per client.
For example, a brokerage could rent a hair salon for a day and agents could cover the cost of styling hair for individual clients. Using the same cost model, agents could organize photo sessions, movie nights, pick-your-own pumpkin outings, Thanksgiving pie giveaways, and more. “It’s important to hold events close to your customers,” says Hata. So, if your farm area is large, consider smaller events in multiple locations. For lead generation, tell your agents to encourage their customers to bring friends and family. After the event, tell your agents to follow up with their customers and invited attendees.
Track follow-up activities
Hazward suggests that the team monitor their PTFs to stay on top of them. Brivity includes tracking tools so the Coalition knows every call made on a company-owned device. To supplement this data, agents fill out a daily KPI tracker. Every week, the broker’s leadership team reviews this information and advises agents on outreach efforts as needed.
Motivate with incentives
Consider following the Coalition’s example and offering agents monthly rewards for PTFs and other business-driving activities: Since launching such a program a few months ago, Hazward estimates it has seen a 20-30% increase in contacts and appointments.
