The real estate industry’s premier marketing thinkers at 1000Watt recently published some of their research and thoughts on loyalty.
Why do 82% of consumers report they’re happy with their real estate agent during a transaction, but over 60% never talk or connect with their agent again?
The assumption that super-servicing a customer will win their loyalty may be wrong.
Delighting customers doesn’t build loyalty; reducing their effort—the work they must do to get their problem solved—does.
Solving the industry’s loyalty problem lies, quite simply, in reducing the amount of effort people need to expend solving their own real estate problems.
I suspect the retention of agents to your office or team follows the same trajectory.
Many brokers focus on delighting their agents with great support, tools, and financial arrangements.
These are all necessary and important factors, but they’re a baseline.
True loyalty is earned by reducing the amount of effort agents need to expend to solve their own business-related problems.
Getting to this objective takes attention to detail, business acumen, and empathy—all things that great managers can access quickly.