MAKE NEW FRIENDS BUT KEEP THE OLD

Real estate professionals should forge new relationships to generate business, but they shouldn’t forget past clients, since research shows the 20-year value of a client tops $93,000 on average. To be prepared for market changes in the new year, property professionals are advised to take time now to install a contact-management system, and input past clients, present customers and prospects. Once their list of contacts is complete, agents should segment it, using such categories as friends and family, business associates, neighbors, professional contacts, geographic farm and referral agents, among others. They should then formulate a strategic plan for the next three to six months, and prepare a file to ensure that contacts are sent a postcard or newsletter monthly, called every two months, and visited in person every three months.

Source: Realty Times (12/17/08) Escobar, Julie
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