Why Realtors Are Never Too Busy for More Business
One of the reasons I think Detroit has such an uphill battle regaining (or even just maintaining) market share is that drivers’ relationship with their auto company tends to be “sticky.”
Put it this way: after disappointing experiences with a variety of brands (ask me about my “Saab story”), my wife and I switched to Honda’s and Toyota’s more than a decade ago. (Full disclosure: I drive the “starter LEXUS” — leased — which I consider to be a glorified Camry.)
(More than) satisfied customers, we’ve never looked back.
Call us “captured clients.”
Real estate is similar.
The average American buys or sells a home once every seven years (a little less frequently than they switch cars).
Ergo, if you’re a Realtor, that means the window for capturing someone’s real estate business opens . . . once every seven years.
In fact, if the would-be client goes with another Realtor who does everything they should (a good job, good communication, great follow-up, etc.) and isn’t close to retirement age, it’s safe to assume that their (need a) “Realtor window” will only be open once.
Even that potentially understates things: it’s not unheard of for Realtors to have multi-generation relationships with clients, like the teacher who taught the parent . . . then teaches the parent’s kids.
So, passing on a deal conceivably means passing on all that person’s future deals — and perhaps even their kids’ deals.
So, no, I’m never too busy for new clients . . .