This is a great quiz that’s featured in Agent Magazine:
“Only 11 percent of buyers and 28 percent of sellers choose a real estate practitioner based on their previous experience with that person, according to research by the NATIONAL ASSOCIATION OF Agents. Those numbers show that there’s plenty of room for improvement when it comes to garnering repeat business. Take this quiz to find out if you’re doing what it takes to keep customers for life.” You may want to print the quiz out and circle your answers.
Quiz:
| 1 | You should give people time – several weeks at least – to get settled in a new house before delivering your closing gift. | T | F |
| 2 | People are so busy today that you are likely to lose potential clients if you follow up with them more than once a year. Comment from IXACT Contact: Use your IXACT Contact Agent CRM to schedule your keep in touch activities and drip email campaigns with your prospects/ clients for the year. And make sure you’re taking advantage of IXACT’s e-Newsletter feature to send out a completed monthly e-Newsletter to your database! | T | F |
| 3 | According to the IRS, you can deduct up to $50 per couple for a closing gift. | T | F |
| 4 | A customer-satisfaction survey of at least four pages is the best vehicle to elicit feedback because it will allow you to ask customers about every aspect of the transaction. | T | F |
| 5 | It’s appropriate to include information about yourself and your achievements in your client newsletter. | T | F |
| 6 | Consistency in follow-up marketing programs means that you should send the same piece to clients several times in a row. | T | F |
| 7 | Developing a recommended list of vendors could create liability problems for you if the vendor fails to perform adequately. | T | F |
| 8 | When you deal with an angry client, it’s best to wait a day or two before calling so that things will cool off. | T | F |
Answers (do not read if haven’t taken quiz above):
1. False: give your closing gift very soon after the closing, if not immediately after. In addition, call customers within a day or two of their move to see how they are doing and to offer referrals for plumbers, electricians, or other service vendors they may need.
2. False: people are busy, but their memories are short. You should follow up with referrals and past clients at least every 60 days.
3. True: current allowable deductions for business-related gifts are $50 per couple, $25 per individual.
4. False: experts recommend no more than eight questions in a survey. Otherwise, the survey will be too cumbersome and it’s less likely that customers will respond.
5. True: adding some newsletter stories about yourself gives people the sense they know you and offers a subtle way to promote yourself. But be sure that the vast majority of the content is centered on the needs and interests of your clients and prospects.
6. False: the consistency comes in repeating your marketing line and some graphic elements in each piece you send. Newsletters, door hangers, and brochures should all have a similar tone and look. To keep clients from becoming bored, vary the type of piece you send each month. Send a newsletter one month, a postcard the next, and make a personal phone call the third.
7. False: to avoid liability problems, the key is to always include more than one vendor in each category, and let the homeowner make the final decision. If you have a full-scale concierge program, it’s also a good idea to have vendors you recommend sign a letter freeing you from all liability.
8. False: always respond to complaints promptly; allowing time to elapse just lets resentments fester.
Which quiz question(s) do you agree or disagree with the most and why?
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