The 2017 National Association of REALTORS® Profile of Home Buyers and Sellers is out. Know what it shows? Real estate agents aren't the best at maintaining relationships. Here is what the numbers show:
- 89% of buyers definitely or probably would use their agent again but only 12% actually do. Factor out first-time buyers and that number only increases to 17%.
- 85% of sellers definitely or probably would use their agent again but only 23% actually do.
These are not great numbers for our industry. Is there a lot more to these numbers? Of course, this is just a snapshot in time. The report does show that 42% of buyers' agents and 41% of sellers' agents were referred to their clients so there is some hope.
Here is the thing though, these stats and other reports show that most real estate agents do not stay in touch with their people. Many think that just having a list of names in a contact system somewhere qualifies for a relationship. It's all about who you know, right?
No! Actually understanding the people you know and providing them with value. Focus on other people and have intent on providing real value regardless of your profession or whatever you are trying to sell. Build a strong relationship. Build a REALationship.
Yes, you need to bring in revenue to support your lifestyle, family, etc. and you may not want to be best friends with every single client. That's not what this is about though. This is about actually caring about the people you interact with and having no expectations that they will feed you business just because you are you.
I talk about this a lot and I have a short little rant about it in the video above. CARING about other people is what will move your business forward. REALationships, not just relationships will move your business forward. The funny thing is that it's not that hard to do, so why do so many real estate agents and sales professionals miss this point?