Does your brokerage keep clients for life?
To grow your brokerage, you probably focus on getting new clients. The more clients you have, the more you can expand your brokerage. However, new clients aren’t the only (or best) way to grow. Keeping clients for life can help you close more deals and earn more revenue – with less work for your agents.
So, how do you keep clients for life? Following up with clients after the transaction may seem like the obvious answer. However, creating an outstanding client experience during the transaction is the best way to keep clients for life. One way to do that is with the right back office software.
Wondering how? Before diving into how back office software can help you retain clients, let’s take a look at what makes clients want to stay with your brokerage.
With so many agents and brokerages out there, clients have more choices than ever when buying or selling. To keep clients for life, your brokerage and agents have to stand out from your competition.
While good branding and marketing get client attention, they don't make clients stick with your brokerage. Once you have a client, you should focus on providing an unparalleled client experience.
From first touch through closing, you should make buying or selling a home easy and stress-free by providing a seamless digital experience. This experience should make even the most stressful or confusing parts of buying/selling feel like a breeze.
Clients will remember how your brokerage made such a complicated and stress-inducing process easier than they ever thought it could be. As such, they’ll use your brokerage for any future transactions. And, they’ll refer you to everyone they know – helping your brokerage grow now and for years to come.
Providing an outstanding, simple, and modern client experience is the best way to keep clients for life.
When you think of client experience, you probably think of CRM and front office software. Although the right front office software is essential to a great client experience, back office software can make just as much of an impact on clients.
Here are the top ways back office software can help you create an outstanding client experience to keep clients for life:
In today’s overheated market, buyers far outnumber the homes available. As such, houses can fly off the market in a matter of hours or days. This makes submitting an offer quickly crucial to securing homes for clients.
If your brokerage manually manages paperwork and transactions, it can take you hours or days to draft the offer paperwork and print it. Then, you have to find time to sit down with clients to have them sign everything. After clients sign everything, you can finally submit the offer. At that point, it may be too late.
Manual offer processing can result in losing homes for your clients. Being unable to secure clients their dream homes can lead to a negative client experience. After losing the perfect house, clients will look for another brokerage when they need to buy or sell again. Because of this negative client experience, you lose out on repeat business and referrals.
The right back office software can help you submit offers faster. With form templates and eSignature, your agents can draft, have clients sign, and send over offers in minutes. This software can help your agents get offers in first – increasing the chance clients will win homes.
Back office software can help you process offers faster and get more clients their dream homes. Helping clients get what they want faster creates a positive and memorable client experience.
Another way back office software can help you keep clients for life is by making the process less stressful for clients.
Buying or selling a home can be one of the most stressful life experiences. Clients are either making or selling the biggest investment of their lives. And, real estate is an antiquated and non-transparent industry, which can make the process stressful as well.
If your brokerage manually manages offers or any other client paperwork, you’re making the process more stressful. To sign any documents, clients have to find time in their busy schedules to meet up with agents. With everything else clients have to do to buy or sell, another meeting on their calendar can lead to more stress.
Plus, if you manually store documents, your agents may have trouble finding client documents when they need them. This can cause clients to feel like agents are unprepared, leading to stress over their transactions. And, this manual storage can mean clients have to keep track of paper documents – which is one more thing they have to worry about.
By causing stress instead of reducing it, your manual back office management can create a negative client experience. This can result in clients looking for a different brokerage – reducing your business and slowing brokerage growth.
Instead of manually managing paperwork, you can use back office software to digitize paperwork. With back office software, your agents can create offers digitally. They can also have clients sign any paperwork digitally with eSignatures. And, the right back office software can store all documents digitally on the cloud – making it easy for agents to find what they need.
Digitizing paperwork and signatures with back office software can reduce clients’ workload and stress. Clients no longer have to find time to meet up with agents or manage printed paperwork. Instead, they can sign documents when and wherever they want. And, they don’t have to worry about paper documents because everything is stored digitally.
Your brokerage can create a great experience for clients by making buying and selling less stressful. Clients will remember how much less stressful buying or selling was with your brokerage. So, they’ll turn to your brokerage for any future real estate needs.
Back office software can also help you keep clients for life by preventing frustrating errors.
Manually managing paperwork and client documents requires creating documents with the right fields, correctly filling out those fields, having clients sign in the right places, and more. With so many things to fill out, it’s easy for your agents or staff to incorrectly create or fill out paperwork.
And even if you are using software to manage your transactions, you may still be at risk. Does your team have to enter and re-enter data a few times? Each data entry effort is a mistake waiting to happen. A good back office system will not only bring many of those steps into the same platform, but will also integrate with other platforms so they can share data.
With back office software, your team can eliminate time-consuming and frustrating errors through automation. This can help create a simple, quick, and seamless client experience. As such, clients will remember how easy and fast working with your brokerage was. It will be a no-brainer to work with your brokerage next time – and refer friends and family to your brokerage.
Keeping clients for life can help you grow your brokerage with less work for your team. However, it can be hard to keep clients for life if you manually manage your back office. Manual back office management can lead to slow offers, stressful paperwork management, and frustrating errors – all of which make clients look for a new brokerage.
The right back office software can help you keep clients for life by creating an outstanding transaction experience for clients. Instead of a stressful, frustrating, and disappointing process, you can create a memorable and positive experience with back office software that keeps clients returning for life.
If you’re looking for back office software that can help you keep clients for life, Brokermint is the way to go. With five modules (transaction management, commission automation, agent management, accounting, and reporting/analytics), Brokermint has everything you need to create a seamless and digital experience clients will love.
Book your Brokermint demo today to see how Brokermint can help you grow your brokerage by keeping clients for life.
Schedule a demo and see your back office with Brokermint.