Take Flight: Take Off (Part 3)
Jim Miller
President at Jameson Sotheby’s International Realty | Award-Winning Managing Broker | Elevating Advisors to Higher Levels of Production and Life Design | Real Estate Executive | High-Performance Coach | Podcaster
Read the full text at www.AskJimMiller.com
You’ve built or are building your client list and now I’d like to introduce you to the “WHY” a client list is so important. It really is the boundary between a real estate hobby and a real estate business.
Successful brokers realize that their job over the life of their brokerage career is to “Collect and Compound” relationships. What that means is that they know that the key to their success is finding and taking good care of their clients and identifying influencers that will act as advocates for their business. As you build a strong database, you are building salespeople for your business. A strong database of happy clients is the only thing that has equity, the only thing that has value that you can sell at some point. Building a relationship-based business is not for the faint of heart. It takes vision. It takes time. It takes patience. But the future results are well worth the time.
So, why should we focus on building a relationship-based business vs. a transactional business? Let’s look at the numbers.
Most agents are talented and provide a good experience for clients and, in fact, based on a recent NAR survey, 85% of buyers and 88% of sellers would recommend or use their agent again. Those are impressive numbers... but only 9% of agents take the time to stay in touch with their clients post closing.