Using the Reciprocity Principle to Keep Your Customers Coming Back

Most Realtors I’ve talked to have had the seven touches principles pounded into their heads–in other words, you have to touch a prospect an average of seven times before they do business with you–and it’s important to stay top of mind.

But with fewer buyers in the market, it’s more and more difficult to gain new customers, and many are forgetting about the ones they’ve serviced over the past several years.

If you’ve been in the real estate market for some time, there’s more than likely some real gems in your current database–but beyond sending them calendars and postcards, what’s the best way to get them to engage with you again?

In the book Influence: The Psychology of Persuasion by Robert Cialdini, it talks about the Reciprocity Principle–and the “rule says that we should try to repay, in kind, what another person has provided us.” In other words, if you do something that the customer perceives as great value, they feel that they owe you, and they will repay you with your ongoing business.

The book uses an example of an interesting study where “Joe” was to sell raffle tickets to person he was working side by side with. In the first condition of the study, Joe would ask the person if they wanted to buy a raffle ticket, and in the second condition, before asking the other person to buy a ticket, he would get up during a break, go purchase two Cokes from the machine, bring the second one back for the other person, and explain that he thought they might like one too.  The results were overwhelming in terms of the sales of raffle tickets under the second condition as opposed to the first.

So how does all this apply to getting your customers coming back?

It’s called our WOW! Advanced Realtor Marketing Program, and it’s open to any of our Realtor partners! This one of a kind Realtor specific program was created to help you take your business to the next level.

• Stay relevant in today’s market
• Win every listing opportunity
• Create synergy to expand your business
• Create a consistent & predictable stream of referrals
• Create CUSTOMERS FOR LIFE!

All of these communications open the door for you to develop an ongoing relationship with your past clients, and it gives you the opportunity to talk about taking advantage of move-up situations, refinancing, and so on. It also gives you a sense of when they may be looking to change their situation, and helps you create a more effective pipeline of business.

Call us to talk about how effective this program has been for our clients–in this market, we need every advantage we can, and in our experience, this has been the strongest. Or, sign up today for one of our free WOW! Introduction Seminars! Call us today at (512) 472-3500 to learn more.