Article By: Jim Porter – December 15, 2023
Realtors and loan officers spend thousands of dollars on seminars, business coaches, customer-relationship management systems, motivational speakers and marketing technology. The absolute No. 1 strategy salespeople have embraced over the years is building a database of “clients for life.”
This strategy requires the loan officer or real estate agent to substantially exceed the customer’s expectations on their first transaction. The goal is for the client to use them for every future real estate or loan transaction until death.
Until recently, we could count on our clients to call us every eight or nine years to buy a bigger or smaller house, a vacation home or a rental property. Top loan officers that have “clients for life” could not only count on repeat buyers every eight years, but we have also been blessed with 10 or 11 separate years of refinance mania since 1988.
2023 will go down in history as one of the worst years ever for real estate people in California because 80% of our clients for life are very happy and content with their mortgage rate below 4%, or worse, we did such a great job for them 25 years ago, they now owe almost nothing on their home.
Our only hope is for our “clients for life” to remember that we not only need them to use us next time they buy or need a loan, but we need them to be “raving fans” and wake up every morning or at least once per week, and say to themselves out loud three times, like a mantra type of thing, “Who can I refer to my favorite loan officer or Realtor today?”
We need all your friends, coworkers and family members. We promise to treat your referrals like VIPs and make them our new “clients for life.” Merry Christmas!
Jim Porter, NMLS No. 276412, is the branch manager of Solano Mortgage, NMLS No. 1515497, a division of American Pacific Mortgage Corporation, NMLS No. 1850, licensed in California by the Department of Financial Protection and Innovation under the CRMLA / Equal Housing Opportunity. Jim can be reached at 707-449-4777.
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