In the real estate world, cash buyers are people who are able to purchase properties without needing to take out a mortgage or loan. They can be private individuals like retirees, lottery winners, heirs/heiress, or foreign or local investors. They can also be corporations with the capacity to buy properties with cash. If you have successfully built a massive cash buyers list then the next thing to do is to make sure you stay connected with them.
Having a good relationship with cash buyers can be very beneficial for real estate investors. They do real estate transactions faster than buyers relying on financing. Financing requires a lot of inspections, making the transaction more complicated, and, oftentimes, the buyer can fail to get approved for the mortgage loan. This would mean that the seller would have to repeat the same process all over again, spending precious time and money looking for new buyers for the property. These disadvantages that affect a real estate transaction are less severe when you are dealing with cash buyers, making cash buyers very important players in the real estate industry.
The relationship between the buyer and the seller is usually transactional, meaning it ends after the sale; however, this need not be the case each time. Instead, the relationship can be nurtured, making your past cash buyers a continuous flow of reoccurring business referrals and possible future clients. Of course, everything would depend on how well you were able to complete the real estate deal. You always want your clients to think of you as a nice, honest, competent, and trustworthy person so they are willing and wanting to call the next time they want to do business.
Here are 3 tips real estate experts shared how to successfully keep in touch with past cash buyers.
- Add Them On Social Media, Send Emails and Call Them
Online networking websites can let you contact and invite past clients to stay connected with you in a friendly and informal footing. For example, invite former clients to be your friends on Facebook. It’s a sure-fire way to keep in touch with them. Send emails or give phone calls to remember birthdays and any special occasions in their lives. Share home improvement insights and relevant real estate related news that they might find useful. These are just some of the ways you can make sure they won’t forget you.
- Drop By Bearing Thoughtful Gifts
Visit new homebuyers after they move in and bring them unique housewarming gifts like potted plants, a basket of goodies, a framed sketch or watercolour of their new home or a bottle of wine. It is also important that you make your timing right. Let them settle down in their new home first. You don’t want to barge in uninvited when they have just moved in and still have plenty of work to do. Visit them once or twice a year, especially on holidays, as an excuse to get reacquainted.
- Send Newsletters
Whether it is via email or snail mail, sending newsletters to your clients is a great way to stay in touch with them and, at the same time, give them useful information on what they might need and a gentle reminder of the services you offer.
Getting clients to remember you for future business may be tricky but the key is consistency. Nurture business relationships with your cash buyers and you will surely reap the best results over time.