Many real estate agents spend a lot of time and money marketing new prospects, while completely overlooking the best ones they have; old ones. We all realize the importance of acquiring new clients, but how many of us truly grasp the importance of not only retaining old ones, but actually expanding on those relationships?

The cost of acquiring new customers is escalating, no matter the industry; real estate, mortgage financing, land development, etc. On the other hand, marketing to past customers is less expensive and is at least as profitable.

Consider this; the average home owner is likely to purchase and/or sell 4-5 houses in their life time. So, if you sell them one property why not establish them as life time customers and assist in the buying and selling of the others. For the most part each time they buy or sell they step up in price range and affordability, excepting of course perhaps their last and final transaction – a retirement home.

So, why are former clients so overlooked? Personally, it was because I was driven to close on the next deal and knew that it would be years before a closed client would be ready to sell. However, my rational was very short sighted!

Typically, closed clients are happy with you and your services, so there is a greater chance that they will come back to you for future transactions – if you give them reasons to. Also, they are usually eager to refer colleagues, relatives, co-workers, and friends to you. There’s almost no end to the number of referrals a satisfied customer will give.

So, a mind shift to building long term relationships with “closed” buyers/sellers is in order. Instead of abandoning clients after a sale continue nurturing the relationships by maintaining routine and ongoing contact with them, which will help you to protect them from your competitors. Remember, if you’re not taking care of them somebody else is.

Keeping in contact and maintaining relationships with “closed clients” is really kind of easy. You could call just to say “hi” every other month and drop them something in the mail in the off months. It could be as simple as a post card, an anniversary card celebrating the date of their closing on their house, a letter recognizing the graduation of their son from high school, or daughter moving on to the first grade.

It doesn’t have to be expensive, just personal!

Safeguard your relationships with past clients by continuing to nurture relations with them. When you continue to show them love and how much you appreciate them they’ll continue to show you the same.

Have you had the unpleasant experience yet of a past client transacting a real estate deal with another agent? I have and it hurts! I felt abandoned and betrayed – yep, it was that personal. However, in truth it was I who had abandoned them. That’s when I smartened up and made the mind shift to building long term relationships with my “closed” and existing clients.

Have you read any good real estate agent bios lately? Unless you’ve been doing a lot of searching, the answer is probably “no.”

Almost every bio you’ll find sounds just like all the rest. They list designations – that alphabet soup of letters that most real estate consumers can’t decipher. How many non-real estate people do you know who actually know what the letters GRI or ABR mean?

And if the agent does reveal what the letters stand for, how many potential clients know what it means to them? Very few.

Then they go on to tell about the agent’s accomplishments. They might say “Million Dollar Club Member” or “Top Listing Agent 3 years running.” Those things don’t mean much to the average consumer either. If anything, they misunderstand what the Million Dollar club means, and they think that agent is “making too much money.”

After that, they say “Customer service is my top priority,” or some other generic words that try to convince a reader that they’re wonderful agents who will take good care of them. Often they’re the same words that were used on a home page or a buyer or a seller page.

By the time they get to the end of the page, they still haven’t revealed a thing about themselves or given their prospects any reason to like them, trust them, or hire them.

Instead of copying the same formula that other agents use, each agent should strive to make himself or herself stand out from the crowd. Prospects want to know why this agent is the best choice for them – they want to know what the agent will do that’s different from what everyone else is doing. So tell them.

Also, in this day of diminishing trust, they want some bit of information that will let them see that this is a real person – someone who cares about something in addition to closing transactions and collecting commission checks.

That’s why I recommend that agents reveal some personal information.

If you’re getting ready to write your real estate agent bio, start by thinking about things in your past that prepared you for your role as a real estate agent. Perhaps it was a job that taught you how to listen well, or negotiate. Maybe you were a home builder or an appraiser or a home inspector – so you can protect your buyers from purchasing a “money pit.”

Perhaps you’ve had a life-long fascination with homes and different types of housing architecture. Perhaps one of your parents sold real estate and taught you that it was the world’s best career.

You don’t have to go into detail, but do share something about the reason why you chose real estate sales as a career. “I love helping people” or “I love people” is not good enough.

Next, remember that people like to do business with others who are somehow “like them,” so share something about your spare time activities – such as hobbies, volunteerism, or membership in service organizations. If you have pets, mention them. If you’re a proud grandma or grandpa, mention that.

Again, you don’t need details. But do give your prospects a reason to like and trust you before they even meet you.

Marte Cliff is a Freelance Copywriter who specializes in writing for real estate and related industries.

She’ll help you with one letter, or an entire marketing plan. For Real Estate agents and brokers who are ready to get full value from their websites, she’ll be happy to put together an entire package – from the web copy to the lead generation packages that make an agent’s phone ring.

The expired listing letter is a valuable asset for real estate marketing plans. Expired realty listings refer to contracts that have expired between homeowners and their agent. Realtor contracts generally last between six and twelve months. If the listed property is not sold during the contract period, sellers can enter into a new listing agreement with their current realtor, hire a new agent, list the property as for sale by owner, or take the home off the market.

Investors use the expired listing letter to solicit business from the seller by offering to buy their home or help them sell it. In order to find expired property listings, investors must subscribe to the Multiple Listing Service (MLS) database; a service that provides lists of nationwide properties for sale to realtors.

Investors who have never used expired listing letters can easily locate sample templates online. Investors will need to adapt marketing letters to suit sellers’ circumstances. A good place to learn and share expired listing marketing ideas is by participating in real estate forums or networking groups.

In addition to using expired listing letters, investors will need to develop a marketing plan and follow-up strategies. Most investors incorporate multiple marketing tools such as postcard marketing, direct mail, referral marketing, realtor flyers or brochures, and cold calling.

The expired listing letter is generally used to solicit sellers, but some investors use these letters to solicit realtors. Working directly with real estate agents can be a profitable niche for investors willing to develop close working relationships. Realtors do the majority of legwork while investors earn profit by closing the deal.

Investors who are unfamiliar with marketing strategies should consider hiring a marketing specialist and copywriter to create expired listing letters and brochures. Real estate investors often use a variety of prospecting tools.

They might start with an introduction letter, followed by a postcard and a phone call. Or they might start with a phone call and send a folder filled with a marketing letter, client testimonials, and a list of successful real estate closings. Regardless of the marketing strategy, the primary goal is to locate motivated sellers, purchase properties below market value, and earn profit on each expired listing transaction.

In today’s competitive market investors must stay on top of changing trends and create marketing campaigns that make them stand out from the crowd. Sellers often receive dozens of expired listing letters once their real estate contract expires. This is where creating unique marketing strategies can really pay off.

Private investors who dedicate their time to locating expired real estate listings often work with sellers that are frustrated their home did not sell during the listing period. The last thing these people want to hear is empty promises. They want to sell their property. Investors who focus on solving this problem can earn the seller’s business by focusing on their needs and explaining how they can help sellers accomplish their goals.

Real estate investing is a competitive industry. In order to become successful in this arena, investors must be committed to finding solutions for sellers. This can be accomplished by building a strong network of realty experts, developing a strong marketing plan, and utilizing strategies that will attract motivated buyers and quickly close real estate deals.