I wanted to quickly address something which is affecting all of us - especially lately. I was recently having a conversation with an acquaintance of mine. He asked me how business was going. Not that I was complaining, but I did mention that in the last month, I had 3 clients who were committed to buying a house ultimately decide to lease for at least another 12 months instead. When he heard this, he stated that he "wouldn't mess with that."
I disagree. Granted, I do not advertise apartment locating, etc., but think of the big picture... If you take care of this client, you've essentially done about 4 major things.
1. You have (hopefully) established a great repoire with them. This is HUGE! You've just been given the opportunity to win them as a customer for life.
2. You have filled your pipeline. Granted, it's 12 months from now, but you know exactly what they'll be up to in a year.
3. You have earned a little money. I know it's not closing on a $300K deal, but it's something.
4. Once they've moved in to that apartment, why not send them a congratulatory / thank-you letter with a stack of your business cards and a $25-$50 gift card for Home Depot, Target, etc. What kind of conversation does this start with their friends and family? Who do you think they'll suggest when they are asked if they know any good realtors?
I know this isn't anything new to a lot of you. But, maybe we just need a reminder of what this business is all about - marketing and creativity. Truthfully, we are not in the real estate business selling to people. We are in the people business selling real estate.
Photo Credit:
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James Johnson, Realtor
Austin Texas Homes, LLC
www.austintexashomes.com
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jamesjohnsonhomes@gmail.com
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I agree James, just because they determined now is not the right time, doesn't mean in 12 months it is the same story! Making connections and forming relationships is a major part of this business! Make a good impression, be helpful and maintain professionalism may get you more than just one potential buyer! Hey, they have friends and family too!
James! Wonderful post! I suggested it for a feature--some important considerations here, and given the signs of the times, perhaps we need to consider working more of those rental clients for just the reasons you have given. And I love your conclusion: we are not in the real estate business selling to people. We are in the people business selling real estate.
Nice post James. Keep working on building lasting relationships and you will do well.
Stephanie - Thanks for the read! You're right, what's true today could change very soon.
Lisa - Thanks-you for the read and for the feature suggestion! I appreciate all of the encouragement and reponses I get from you! They mean a lot to me!
James - You should always have NOW clients and LATER clients. They are all important at different times, so you are doing the right thing by directing them to a nice Lease. Keep in touch with them in a few months and later it will turn to a sale.
James, I totally agree. No matter what happens you will need buyers in 12 months as well.
James you are so correct here. I did this and 12 months later, I not only sold them a house, but it had a builders bonus of 10k. Best check I'd ever gotten.
John - Absolutely! Thanks for the read!
Rob - Tell me about it! I want to know I'm busy for a while!
Lisa - Thanks for the read! I hope some of that favor rubs off on me! Let me know when you're in Texas!