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The
Power of Giving Gifts
to Your Clients and Prospects One
area that commercial brokers often fall
short in is in giving gifts to their
clients and prospects. But giving gifts
on an ongoing basis solidifies
relationships at a deeper level and
makes people feel more committed to
doing business with you. Imagine
you have an accountant who sends you
gifts 2-4 times a year. Doesn't this make
it more difficult for you to think of
changing accountants as long as the
person is doing a decent job for
you? The
same applies in your real estate
business, too. But in real estate you
often won't have an ongoing
relationship with someone throughout
every single year like their attorney or
accountant will. This is simply because
the person may not need to close a real estate
transaction every year, but they'll
probably need to discuss business with their
accountant and attorney during the year. So ideally you want to
create the feeling that you have an
ongoing relationship with your people even when they may not have
a real estate requirement for sometime
in the future. If
you send gifts to your people 2-4 times
a year, this causes a great leap forward in
accomplishing this for you. If for example your
average commission per transaction is
$20,000.00, and a client
does one transaction on the average every three years,
and you spend $100.00 on gifts for them
every single year...this equates to $300.00
spent over a three-year period to maximize
the chances of you earning the $20,000.00
commission. And I must tell you, your
chances of having them work with you
on that requirement where you'll earn
the $20,000.00 commission are much higher
simply
because of the $300.00 you've spent on
them. If
you had spent nothing on them over the
three-year period, there's less
"glue" holding the two of you
together, and
they'll find it much easier to work with one
of your competitors instead. But if you've spent the $300.00 over
the
three years on them, most people you do
business with won't want to experience the guilt they'll
feel when they see you and talk with you
again if they've closed a transaction
with another broker. So they're more
likely to feel that they simply must work with
you instead. Finding
new clients is an important part of the
commercial real estate brokerage
business. But keeping your clients loyal to
you throughout your career will make you
much more money than constantly having
to find new prospects while you're
letting your old clients get away from
you. When
you constantly give gifts to your
clients and stay in great relationship
with them, you'll generate great
repeat business for yourself in addition to the new
business you're constantly generating
through your own continued prospecting.
Click
here for downloadable E-books and live audio interviews with
top-producing commercial real estate agents. These interviews
are with industry experts
who show you exactly what they do to
continually make $500,000.00 to over a million of dollars a year.
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