A past client is the real estate industry term for a person who has had a transaction with you and the transaction closed. Thus, they are now a “past client.” If you are using that phrase, it is costing you a significant amount of money.
DELETE THE WORDS “PAST CLIENTS” FROM YOUR MIND!
Instead, consider them CURRENT clients. They are your biggest asset.
When a client has a house listed with you or you are showing them homes to buy, they are an active client. So, you may have 100 clients after a few years and about 10-20 of them are active at one time. When a transaction is closed, they move from an ACTIVE client to a CURRENT client status.
A client may be at different levels:
Current client – closed a buyer or seller transaction
Testimonial client – provided written testimonials for marketing use
Referral client – provided at least one referral, whether closed or not
Lifetime client – completed two or more transactions
Investor client – completed investment transactions
Partner client – involved in joint venture business with you.
If you have a living and breathing database, consider using these categories to track where you are getting your business from. If you don’t have a database, you may want to go through your closed files, your contacts, your referral partners to determine who you need to contact on a consistent basis.
If you need help with your database strategy, call or email me directly.