Adopting Real Estate Client Retention Strategies

ESV Obot, Emmanuel E.

With the growing number of real estate businesses across the World, the real estate market space is becoming very saturated and competitive; both at the global and domestic fronts.

With the above development, the onus will be on forwarding thinking real estate brands to quickly adopt long lasting client retention strategies that will stand the brand out from the crowd. These client retention strategies must be crystal clear with the aim of growing the brand in all its business areas, and position it as a market leader in the real estate business.

All client retention strategies, both short and long terms must come under the marketing template of the firm and its employees. Such marketing strategies will include – Public Relations, Advertising, Media Relations, and all forms of marketing communications that are aimed at marketing the real estate firm. In today’s business World, where trust is becoming a very scarce commodity, integrity and ethical practices should equally be an integral part of client retention strategies in the real estate space.  Irrespective of the sector, a trusted business has a future.  

There are a number of marketing and communications strategies that can help a real estate firm to grow and retain clients over time. One of such strategies is branding – perfect dressing and all forms of communication styles across every touch point of the business will go a long way in attracting and retaining customers.  All forms of communication, offline and online, by the real estate brand must be professional enough to attract quality clients and retain them as well.  

Listening to feedback from your growing clients is another tested strategy of retaining clients. No client should be treated as inferior, irrespective of the volume of business transaction. A client lost is a business lost. All feedback from clients should be attended to promptly and professionally across all communication touch points.

For a brand that is into real estate services, the client advisory services should be topnotch. The real estate industry is a very complex one, and full of immediate and far reaching risks. Thus, prospects and clients are counting on your professional services and expertise to close property transactions without regrets. A client, professionally serviced in this regard is automatically a retained customer, and by extension an ambassador of the real estate firm. Clearly, an ambassador will definitely bring referrals for patronage through word-of-the mouth marketing by the satisfied client. This has a way of adding to the bottom line of the business.
Another strategic way of building relationships with clients in order to keep them in your folds is by identifying with them on their special events and occasions – housewarming, birthdays, marriage, burial, coronation ceremonies, just to mention a few. Big corporate organizations have been leveraging this to grow their client base, maintaining public relations, and building their brands.

The Nigerian real estate industry is currently experiencing a boom, with so many professional and non-professional entrants. The onus therefore lies on the many professionals in the industry to leverage these strategies in positioning their real estate brands.

ESV Obot, Emmanuel E., is the Head of Practice at Emman Obot & Company, Estate Surveyors and Valuers. He sent in this piece from Uyo, Akwa-Ibom State.