Saturday
March 25, 2017

What to Do Next After Losing a Listing

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What to Do Next After Losing a Listing

When a seller decides to no longer list with you, is there a point in ever seeing them again?

When you lose a listing, do you ever see the seller again? Many real estate professionals quickly move on after the business is lost, forgetting all about the former client they tried to help. Do you know what that tells the seller? You never really cared about him or her to begin with. And that’s not how you want to be remembered.

Even when sellers choose to stop working with you, they deserve to be treated as though they’re still your customer. Keep building a relationship with them anyway — because very few agents do in these circumstances. You’ll be remembered as the agent who wasn’t just trying to score a commission.

I knew an agent who, whenever he lost a listing, would follow up after the property was sold to congratulate the sellers and find out where they were moving. He would let his ex-clients know that although he would have loved to help with their sale, he was pleased they achieved a good result. Then he would give them a “welcome package” for their next home, containing phone numbers for local utility companies and emergency centers, as well as a voucher for pizzas on their moving night so they wouldn’t have to worry about cooking.

This agent was never angry over losing a listing, and he would maintain contact with his former clients, sending them information about housing statistics in the neighborhood they moved to, as well as local events he thought they might be interested in. You know what happened? Eventually, the clients — who would one day be selling again — forgot that he wasn’t the agent who ended up selling their last home. Because of his regular contact with them, he became their go-to agent anyway.

Obviously, this agent was practicing great customer service with his existing customers as well, and he commanded about 60 percent of his market share. How powerful is that? Doing something this simple can reap long-term rewards. Put great customer service into action for all your clients — even those who choose to amicably part ways with you — and you can make a strong name for yourself. Agents lose listings every day, and I can guarantee you a small percentage ever follow up with the sellers afterward. You can capitalize on being different in this way.

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