Client Touch Points
Home Buyer Client Touch Points
A client touch point is simply any opportunity to make a connection with someone. There are a myriad of opportunities to make a great first impression, and even more opportunities to build upon that initial encounter. I have divided the client touch points that occur throughout the home purchase experience into four phases: pre-sale, home shopping, contract to closing, and post-closing. Each of these four phases are divided into three subcategories that track the arc of the home purchase process.
1. The Pre-Sale Phase / Buyer
The Pre-Sale phase of the process starts with the inkling that maybe a new house is a possibility. This inkling is reinforced by a new awareness of all sorts of real estate related marketing and advertising cues that reinforce the notion and prompt some initial action. The initial action may include internet searches and even a visit to an open house or two. As the pre-sale phase proceeds, we have an opportunity to win the business as the prospective buyer begins consulting family and friends for referrals to a Realtor.
2. The Home Shopping Phase
Assuming the Pre-Sale phase results in a referral, the home buying experience moves to the Home Shopping phase. This phase is all about identifying and championing the needs of the client. The best way to kick this process into high gear and create a client for life is to schedule a one on one meeting with the buyer(s).
I have become a bit of a fanatic about this, but I will not work with a buyer in any capacity until they agree to meet with me in my office for a consultation that lasts less than one hour.
During this meeting, my goal is to find out what is the most important thing to them about this move. I want to know what kind of property they have in mind and I want to know how we are going to collaborate to reach their goals. I take them through the entire process step by step and I end the meeting by logging onto the Multiple Listing Service together, so they can see exactly what I see. The home shopping phase ends with identifying the perfect house and negotiating a contract.
3. Contract to Closing / Buyer
This leads us to the Contract to Closing phase where our client service skills are on full display. We all know that finding a home and getting it under contract is only half the battle, getting to the closing table is where the true professionals shine. The key to this phase of the home buying experience is to keep our promise to get our buyers into the house they were so excited about at our first meeting. That is what they hired us to do in the first place.
Managing Expectations
This phase also introduces other people and vendors into the process that we have no direct control over. We may have the opportunity to recommend lenders, title professionals, home inspectors, and other service providers we know and trust to our clients, but we still have no direct control over the outcome. We can however manage our client’s expectations and let them know exactly what to anticipate. Communication during this phase is critical.
We literally cannot communicate enough with our clients during this phase of the experience.
4. Post Closing
The Post Closing phase is critical to cementing the relationship we worked so hard to cultivate and to create a client and a referral partner for life. Our role here is to be available to answer any questions or concerns that come up after the sale. The new home owners will want to make their new house their own and may need referrals to contractors and skilled trades people. They will be entered into our Client Appreciation Program and can expect an item of value in the mail each month and of course, the periodic pop-by gift and personal note.
Home Seller Client Touch Points
I break down Seller Client Touch Points in to four phases, Pre-Listing, Listing and Marketing, Contract to Closing and Post-Closing. The activities that occur in each phase pose many opportunities to build and reinforce a long-term referral relationship. Obviously, if we are working with a seller who is also a buyer, our chance to add value to our client’s experience increases dramatically.
1. The Pre-Sale Phase / Seller
The Pre-Sale phase of the process is virtually identical to the Pre-Sale phase of the Home Buyer Touch Point grid. It either starts with idea that the seller is in the market for a new home, or they have decided to dispose of an inherited or investment property for personal reasons. The idea is reinforced by an often unconscious awareness of all sorts of real estate related marketing and advertising. As the pre-sale phase proceeds, we have an opportunity to win the business as the prospective seller begins consulting family and friends for referrals to a Realtor.
2. Listing and Marketing
If the Pre-Sale phase is successful, we move to the Listing and Marketing phase of the relationship, beginning with the Seller Consultation. Our listing and marketing educational content is designed to put the seller at ease, demonstrate competence, and illustrate exactly why the seller needs and deserves a full-service real estate broker. Our presentation materials are designed to leave little doubt that the agent’s full-service fee is warranted.
3. Contract to Closing / Seller
This leads us to the Contract to Closing phase where again, our client service skills are on full display. Here, as with working with a buyer, it is all about keeping our promises. Leading a seller through the ups and downs of inspections, appraisals, repairs, moving, and the actual closing provide several opportunities to communicate our care and concern even during the smoothest of transactions. Managing client expectations by continuously letting them know what to expect is essential.
4. Post-Closing
The Post Closing phase is critical to cementing the relationship we worked so hard to cultivate and to create a client and a referral partner for life. Our role here is to be available to answer any questions or concerns that come up after the sale. Even if the seller is leaving the area they should remain a member of our Client Appreciation Program. In this hyper-connected age we live in, one never knows when or how an opportunity for a referral will present itself.
Tenant Client Touch Points
Tenant Client Touch Points are broken down into four phases: Pre-Sale, Home/Apartment Shopping, First 90 Days, and Post-Occupancy. The goal when working with tenants is the same as working with a buyer or seller, to create a client for life. However, the more immediate goal is to help a tenant transition from renting to home ownership. For the way you want to live today™ means that we want to be there from the time someone rents their first apartment, to the purchase of their first home, second, and so on for life.
Make or Break Moments
Make or break moments working with tenants generally occur during the application and screening process, and during the first 90 days in a new home or apartment. If we can successfully guide a new tenant client through these middle phases of the transaction, we have a much better shot at a productive long-term relationship. Looking for opportunities throughout the lease term and beyond to make contact are critical. It may be appropriate to enroll the tenant into the broker / owner or property manager’s Client Appreciation Program as well.
Property Management Client Touch Points
Our most productive long-term referral, and repeat business relationships are with our landlord / owner clients. Every month there are opportunities to add value, demonstrate competence and care, solve problems, and basically just be heroes. The danger is that over time what we do starts to look easy, and either we begin to take the client for granted, or they begin to take us for granted. The art of the referral based relationship is to ensure neither occurs.
1. The Pre-Sale Phase
We have an extensive internet direct marketing program designed to maximize the Pre-Sale phase and generate leads. We continuously distribute content designed to educate and add value to the lives and businesses of real estate investors. This ‘freemium’ content is designed to show potential clients that we understand their business and will treat their assets as we do our own.
2. The Due-Diligence Phase
The Due-Diligence phase is the most critical phase of the Investor / PM Client Touch Point Grid. Accurately assessing the client’s needs, understanding their financial situation, and getting a clear picture of the overall physical condition of their properties is critical to setting realistic expectations. The process of the negotiating the management agreement and a smooth on-boarding process is the basis of long term success.
3. The First 90 Days / 4. Continuous Improvement
We have clients who pay us several hundred dollars a month in basic management fees. Our best clients will pay us tens of thousands of dollars over the course of working together. An ongoing awareness and adaptation to the changing needs of the investor client is what separates the professionals from the dabblers. Our property management clients are the most appreciative we have.
Conclusion
I am sure with a little thought you can identify client touch points in your business that I failed to touch upon here. I believe the key is to be aware of the ‘make or break’ opportunities that can further a relationship, as opposed to simply completing a transaction.
Care to learn more about how we approach our business, and relationships with real estate professionals like yourself?
