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Satisfied customers and strong, trusting relationships are, of course, crucial to long-term success in this industry — we all know this. But building those relationships? That’s where most agents get it wrong.
Client loyalty isn’t won through gifts, niceties or over-the-top gestures, like many agents seem to think. While those extra measures might move the needle slightly, they’re not the most powerful way to satisfy your customers, boost referrals or guarantee repeat business by any means.
Unfortunately, misconceptions like this one are all too common, and they’re holding many agents back from long-term success. To truly foster client loyalty and build those strong relationships, agents need to deeply understand their clients’ goals, be comfortable sharing alternative points of view (especially when they know there are better alternatives out there) and tailor their advice and insights to speak directly to the client’s unique situation at hand.
Agents also need to challenge commonly held industry misconceptions, particularly those about building customer loyalty. These include misconceptions like:
1. The best agents are the nicest or most agreeable ones.
The best agents are the ones who offer value that improves the customer’s outcome and overall experience. Being nice is important, but even more crucial is what’s behind that friendly approach.
Don’t just agree for agreement’s sake. Challenge something they previously thought was true, and give them new insights that lead to a better, more rewarding experience. As a good rule of thumb, if they can find it on Google, it’s not unique advice. In fact, the more widely available your knowledge is, the less valuable it actually is to the customer. The goal is to teach them something they can’t learn online — something only you, the experienced local agent, can possibly know.
Are they considering a neighborhood with stagnating economic activity or dipping home values? Speak up, and bring new ideas to the table. Maybe another community has better schools or healthier dining options. Know what the client is looking for — what their budget and preferences demand — and use your knowledge and experience to deliver real value they can’t get elsewhere.
2. You’re only there to help clients find and tour homes.
Gone are the days when agents were just liaisons for finding listings, opening the door and showing a home. Thanks to real estate websites and apps, buyers can find, visit and tour properties all on their own without an agent ever entering the equation.
Your responsibility isn’t to simply coordinate the home search anymore. It’s to provide expertise that can improve that search, that’s specific to their situation, needs and preferences. Don’t just help them find a home — help them find a better home, at a better price, at a more efficient pace. That’s real value.
3. The client is always right.
This longstanding adage can really put agents in a bad spot. If you’re worth your salt, you should be the expert in the equation — the expert in your neighborhood or niche. Your clients came to you for that specific knowledge, so don’t be afraid to offer it. Did they bring you a listing that undermines their long-term goals? Give them your honest feedback and point them to better-suited ones. Are they looking in a price range you think might stretch them too thin or eat into their kiddos’ college fund? Speak up and help them hone their search strategy.
Challenging your clients’ misconceptions gives them confidence in your expertise and abilities, but it also requires a deep understanding of the customer. What are their priorities in a home and for their family? What do they do for fun outside of work? Know their specific needs, and customize the experience just to them. Show them your unique value and why you’re worth your full commission.
4. It’s all about delighting the customer.
Agents don’t have to go over the top to build strong and loyal client relationships. Taking customers to expensive lunches or giving a nice housewarming gift might make them happy in the here and now, but it’s not what will inspire them to refer you to friends or use your services again.
Real loyalty is built through understanding the client’s desired outcome (what they want, plus what they expect from the experience) and giving them just that. The end goal is to help your clients reach their final destination successfully and with as little effort as possible.
Part of this requires adopting an anticipatory problem-solving approach. That means not just solving the current issue at hand, but also preventing the next two, three or four that typically follow it. It means anticipating the client’s potential problems, knowing common pitfalls and helping them avoid hurdles that could throw their goals off track. This makes their journey not only successful but as easy and hassle-free as possible.
The Bad Experiences Stand Out
Ultimately, if agents can deliver what’s expected, offer situation-specific value and do so with a good bedside manner, long-term loyalty is almost a given. Remember: It’s the unsatisfactory experiences that stand out most vividly, that are posted on Yelp or recalled around a water cooler. If you can avoid those bad experiences, check all the boxes and enable an easy buying or selling process, the odds are in your favor.