The Key to Client Acquisition is Creating Relationships

Acquiring clients in real estate involves meeting people, building qualified contacts, and developing relationships. The good news is there’s a science to it. Once you have your own system in place, you’ll be able to repeat the process to acquire new clients and be remembered by them. But only if you truly understand their buying journey.

There are four steps in the buyers journey which we will go over; awareness, research, consideration, and decision. If you know what happens in each of these stages you will be able to create meaningful client relationships that won’t forget you the next time they want to buy or sell. The marketing strategy for each stage should be tailored towards a specific buyer persona in order to make your overall marketing more effective.

1. Awareness Stage

Your prospective client will always start in the awareness stage. In this stage a prospect realizes the need to take an action (i.e. Buy or sell a home).

Here’s a question to ask yourself: “What event will trigger a person to buy or sell a home?”

Here are some ideas:

1. They just got a well paying job = first time home buyer
2. Getting married = upsize
3. Want kids = upsize
4. Getting a divorce = sell a house and/or downsize
5. Retirement = downsizeYou need to be at the top of a person’s mind, or in front of their eyes, right before an event like these occurs.

A person in the awareness stage will do in the awareness stage:

• Think to themselves, “I need to buy/sell a home. I need an agent. Do I know one whom I like and trust?
• Talk to their friends and family and ask for recommendations and referrals.
• Talk to another professional they are working with during this event/transition for recommendations and referrals.

A client needs to go through the awareness stage on their own. According to multiple studies done by the NAR and Inman, prospects will think of one real estate professional or be referred someone, and usually move forward with him or her.

Marketing Strategy for the Awareness Stage:

Find a reason to build relationships and connect with homeowners and influencers before they need you. Who are influencers? Think of people like business owners, home service professionals, and directors of non-profits. Have an item of value to give someone. You can earn their attention and time to build a relationship that leads to client acquisition.

2. Research Stage

This is the longest stage in a buyer’s journey and where most homeowners will pick their real estate professional. As a rule of thumb, as the price of a product/service increases, the time someone will invest in the research stage increases.

In this stage, the buyer actively starts looking for property and neighborhood formation, (e.g schools). If they are planning to sell, then research topics include:

• home renovation
• recently sold listings
• benefits of using a real estate professional
• local real estate experts

Marketing Strategy for the Research Stage:

If you have a web presence with lots of content about properties and neighborhood information, then you’re more likely to show up in front of this prospective client’s research phase. Make sure you’ve been building relationships for marketing success stories.

3. Consideration Stage

In this stage the client has a list of properties and neighborhoods they’re interested in and is either picking a real estate professional from a relationship or referral, or they will be contacting a few agents to interview and “consider.”

CAUTION: Most agents lose clients at this stage because they do not show up during their research, or they have not established relationships with influencers who could refer them.

Marketing Strategy for the Consideration Stage:

Follow up with people in your database. If you are staying in touch with people whom you have relationships with, then it will be more likely that you become the real estate professional they pick or refer to their network. Use a CRM like Hubspot (free) and use email marketing to connect with existing clients. If you really want to be pro, offer something of value in your follow ups and touch points like neighborhood guides, or provide information like local news or tips.

4. The Decision Stage

In this stage, a client has narrowed in on their real estate agent, listed their home with you or decided on their next dream home.

Marketing Strategy for Decision Stage:

Many people think the fundamental laws of marketing don’t apply to the decision stage of the buyer journey. However, it can be very effective if you know what you are doing. The goal for you during the decision stage should be to convert the client into an advocate. If they are happy with your presentation and execution of your overall offer and service as a real estate agent, they are more likely to remember you or even refer you to their friends and family.

How do you acquire clients and create lasting relationships? Share your comments below.