7 common Realtor mistakes
As the market changes, so do buyers' expectations. Learn how to get your client list growing again.
For real estate professional use only and should not be considered an advertisement to the general public.
It can happen to even the most successful agents. As the market shifts, and demand cools, you may be noticing that it’s harder to get new real estate clients. Perhaps you’re reaching out to prospects, only to find yourself ghosted.
There are more than a few reasons why you might have hit a wall. Here are our top seven.
Mistakes to avoid: 7 reasons you may be losing clients
From minimal to major, these slip-ups could be chipping away at your customer base:
1. Losing touch with your market.
Whether you’re new or have years under your belt: It’s still possible to lose your grasp on your local market—especially with how quickly conditions are changing. Headlines about inflation, a recession, and a potential crash are everywhere. It takes a concentrated effort to get (and stay) ahead of the game. When real estate clients are considering you, they’re looking for both a sales professional and a market expert.
At times like these—and even when the market is more predictable—it’s important to position yourself as a local authority. Do this by sharing relevant, current graphics, blogs, and video market insights. Post these resources to your website and social channels and send them out via email.
Get in touch if you’d like to share our co-branded market-facing resources.
2. Taking on too much.
In a fast-paced industry, boundaries are hard to maintain. Even as the market moderates, you might find yourself handling too much. This leaves less time to nurture clients. Buyers might walk away if you start making errors. It’s understandable to want to help as many buyers as you can to realize their dream of homeownership—we feel the same. Try reducing your task load and see how your client connections improve.
3. Blending in with the crowd.
It makes sense to look to other agents for inspiration, particularly when you’re just starting out. But once you’ve mastered the basics, you might notice that your marketing feels familiar, and you’re struggling to shine. It’s not necessary to be different just to grab attention—this can even backfire. But it can be useful to highlight your unique skills, like specializing in new builds or having experience in property management.
4. Dropping the ball with communication.
If you’ve taken the time to check up on your competition, you’ve probably seen that many—if not most—of their negative reviews are complaints about lack of communication. Thankfully, this has an easy fix. Make it your goal to communicate regularly. You can do this by blocking out time in your daily calendar to send updates or even by designating a day of the week to call or text current and past clients. A little effort goes a long way.
5. Not updating your website.
If you haven’t touched your website in years, it could be time for a change. These days, most customers will leave a website if it’s poorly designed. Fortunately, it’s easier and more affordable to refresh your website than it used to be. You could use a tool like Wix, Squarespace, or Placester to build and customize, or hire a freelance web designer for a fraction of a digital agency’s price.
6. Emailing at random.
It’s the Goldilocks effect: Are you sending too many or too few, or have you found the balance that’s just right? Pinpointing that sweet spot can be hard to do. But an ideal frequency does exist. As many as 69 percent of email recipients opt out due to receiving too many emails, according to a recent Constant Contact survey.
Tracking click-through rates and other metrics can give you a better idea of what’s working, as can asking your email list to provide a reason for opting out. When it comes to maintaining a relationship, the general recommendation is to send at least one to two emails a month.
7. Barely using social media.
Speaking of ghosting: It’s going to be hard to connect with new real estate clients if they don’t know you exist. When a prospect is interested, they’re likely to check your website first and social profiles next. They may move on if they can’t find you—or if your accounts appear to be inactive. Stay up to date with the latest posting recommendations, and aim to post a variety of content (from listings to market insights) consistently.
Let’s make dreams of homeownership possible for your clients
At Academy Mortgage, we create life-changing experiences through lending. We’d love to do the same for your buyers. Contact us for personalized service, a wide selection of affordable loan products, and money-saving solutions (such as down payment assistance) that could help your clients become homeowners.
This is for informational and educational purposes only and not intended as an advertisement as defined by Regulation Z. Please consult a trusted professional as personal circumstances may vary. No specific results are guaranteed. MAC823-1482783.