Real estate agents should not overlook the opportunity to understand why clients leave and how they can win them back
By Annika Tourlas
In the highly competitive real estate industry, client retention is a top priority.
Loyal customers help sustain success and expand networks, keeping you well-connected and on top of sales. While an agent’s goal is never to lose a client, having a career without some loss is rare. A client may migrate elsewhere for various reasons, many out of your control.
“More often than not, even if you do everything, if everything goes to plan, your marketing plan is on point, there’s still a chance that some consumers just don’t feel the level of loyalty or understand the level of loyalty that you are hoping for from them,” says Maura Neill, CRS, REALTOR® at RE/MAX Around Atlanta in Atlanta, Georgia.
Winning back former clients can significantly impact your performance and reinforce your reputation within the community. Implementing effective retention strategies to rebuild trust can prepare you for trying times. Understanding client concerns and employing tailored communication techniques can demonstrate your commitment and foster long-term loyalty.
Common reasons for clients to leave
Whatever your role or the client you’re representing, understanding the reasons behind a client’s departure is pivotal for reconciliation. Foreseeing the potential reasons for a future client’s departure can keep you a step ahead in your business.
Insufficient communication: Many clients expect frequent updates and progress reports. Regular communication shows clients that they’re valued. When clients’ needs aren’t met, they may feel undervalued and seek representation elsewhere.
Prior negative experience: When someone seeks assistance from a real estate agent, they’re looking for an expert to make buying their home or investment property a smooth process. If a client feels that the process was anything but smooth, their next transaction may be with another agent.
“If the client felt that the transaction was extremely stressful, unnecessarily delayed or that the agent lacks some knowledge, they will walk away with a bad taste in their mouth,” says Alma Vega Betancourt, CRS, a broker manager at Horizon Real Estate in Miami, Florida.
Competitive offerings: Whether it’s a compelling mailer or a persuasive referral, if clients perceive another agent to offer better marketing strategies, pricing or services, they may be tempted to switch to what they see as a better deal.
Change in personal circumstances: Life changes can lead clients in different directions. Financial hurdles, relocation and changes in relationships like marriage or engagement could prompt them to seek new representation.
“We all joke that everybody knows ten real estate agents,” says Neill. “So, there’s a chance that the new significant other has a close connection to a real estate agent as well.”
No matter how much trust and loyalty your client has, life may have other plans. These decisions are tough on the client and the agent, so tough that a coin flip could be the deciding factor.
Lack of personal connection: Strong rapport can significantly influence a client’s experience and transaction. Developing personal connections fosters open communication and instills a greater trust in the agent throughout the buying or selling process.
Without a personal touch in your client interactions and communication, your clients may feel that their best interests aren’t at the forefront of your mind, hindering them from achieving the best outcomes.
Six strategies to win back your clients
Regaining the trust of clients who opt to work with another agent requires compassion, skillful communication and dedication to improvement. Agents can restore lost relationships and strengthen their overall client base by implementing strategic steps to reconnect. By exploring how to effectively engage and rebuild trust with former clients, agents can foster lasting loyalty.
Follow up: Reach out directly to former clients with a tailored message acknowledging their experience with you. Communicating with past clients allows you to understand why they made their decisions.
Recalling a specific conversation or providing details about their needs during your follow-up can make a significant impact and show that you value their business. Instead of a phone call or brief email, try sending your follow-up through the mail to prove that you can go the extra mile.
Accept feedback: While communicating with a past client, encourage them to share their reasons and thoughts on why they took their business elsewhere. Regardless of your experience level, improving from your mistakes is always a best practice.
Asking for feedback can demonstrate your willingness to listen and improve. By collecting insights, you can address specific areas for improvement, which may lead to a reconsideration of your services.
Be patient and respectful: Remember that winning back a client can take time. Therefore, when communicating with a previous client who recently returned to your services or is debating a return, staying patient and respectful reminds them of your exceptional professionalism.
“Instead of getting disappointed or hurt when someone doesn’t use you again, be honored, pleased and excited when they do,” says Neill.
Establish regular communication: Consistently communicating with your present and former clients showcases your dedication to your craft and the clients who request your representation.
Regular communication includes updates on market trends, new listings or unrelated topics that pique their interest. For active clients, scheduling regular touchpoints can keep them calm during buying or selling. When regaining trust with lost clients, emphasizing your new communication techniques and practices can help separate you from a low-effort agent.
Take note of special occasions: When re-establishing trust with former clients, it is essential to show that you care not just about their business but also about them and their families. Noting special occasions like birthdays, anniversaries, home anniversaries, graduations, births and more is a great way to build loyalty with your client base.
Create a unique newsletter: As an agent, one of your responsibilities is getting to know your customers—what they like, what they don’t like, how many kids they have and what their plans are. This knowledge shouldn’t be wasted.
Creating custom newsletters, content or mailers for all your clients can greatly improve your reputation. From updating readers on the latest event coming to town to teaching them a new recipe, these unique deliverables can show former clients that your services don’t have to end at the table.
“I’ll send them a recipe that I prepared with the picture; you know what, they love that,” says Vega Betancourt. “They love to see real stuff going on, so I stopped posting those to my social media to save them for my emails to my clients, so they feel important.”
Lost business doesn’t have to stay that way. Revitalize your best practices and real estate relationships to watch your customer loyalty and reputation skyrocket.
How to Navigate Conversations With Past Clients
Real estate agents can learn about a past client’s transition to a different agent in numerous indirect and direct ways. Many clients who leave for reasons unrelated to the agent’s performance will contact their agent and inform them of their situation. However, if a client leaves in a rush or feels unsatisfied with your performance, learning of their departure may surprise you.
These conversations can occur unexpectedly and navigating them is difficult. Regardless of the conversation, your response requires a thoughtful and proactive approach: It’s important to acknowledge their decision, avoid arguing at all costs, wish them luck and ask open-ended questions for feedback.
How you react in challenging situations can make or break your reputation, so handle these conversations with care, respect and patience.
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