How to Actually help Clients when Recession is Looming
With much speculation about a possible recession looming on the horizon, it is important to find ideas that will actually help your clients through a difficult time. Combining effective, affordable marketing to help sell their homes in hand with keep in touch marketing to remain engaged with past clients and leads is the best way to help ease worries about a possible recession.
Keep in Touch
Nothing shouts desertion quicker to a client than disappearing off the face of the earth when things get tough. It is more important than ever to keep in touch with clients so they know you are still there when they need you. Find ways to reach out to them such as a friendly monthly or bimonthly newsletter so they know you are still around, remain active on your social media pages and respond to inquiries right away.
Know your Stuff
Keeping on top of the latest numbers and understanding how and if the market is changing is very important when people fear a recession is looming. It is especially important if rumor mongers are making matters worse, when in fact things are not as bad as they seem. Being able to convince your clients, honestly and knowledgeably, about the true state of the housing market will help keep them calm and focused on their original goals. For example, although Arch Mortgage Insurance’s risk analysts cite Texas as one of the states most likely to be threatened by falling housing prices*, they also point out that the Texas economy is now more diversified. This will help lessen the threat faced by other states at real risk such as North Dakota and Wyoming.
You have built your reputation on honesty, so now is not the time to start telling white lies. Remain honest and ensure you are still 100% acting in your clients’ best interests. If someone was planning to sell a house and gets scared off by rumors of a recession, your honesty and knowledge will be what brings them back to reality. Help them trust you when you tell them it is safe to put their house on the market or to purchase a home.
As mentioned, newsletters are a great way to keep in touch with clients. They provide a good mix of information to your clients on a regular basis so you remain on their radar. It shows you want to help and also keeps you in touch with them through the dark days. You can look at newsletters that offer a good mix of information about the area as well as tips to walk them through the buying or selling process. You also want to use a product that allows you to send a personal message whether it is simply a few words of greeting, or actual information about inventory in the area, demand for housing due to shrinking inventory or the fact their home still holds great value.
Continue to Market
Don’t use a potential recession as an excuse to stop marketing properties. It just takes a small investment to make an impact on your sales. Continue to invest in marketing products such as virtual tours and eflyers. Eflyers at Realtour for example include a free virtual tour so you can kill two birds with one stone. You can show your clients you are working on their behalf to get their property sold, while having an edge over agents who have decided to reduce their marketing budget (and efforts).
Marketing is often the first budget to get slashed, when in fact finding affordable marketing options makes a lot more sense. The basic rule of business doesn't change during a recession: You still have to invest money to make money. This in turn will help your clients, whether you are keeping in touch or providing a service to help them buy or sell a home.
Realtour makes marketing affordable with budget conscious eflyer services that include free virtual tours. You can also manage costs using an effective mapblast tool to target smaller areas to reduce costs. You can keep in touch with our Ready to Send newsletters allowing you to send personal messages and relevant information on a client to client basis with an affordable monthly subscription rate with limitless use. Try it for 30 days free to see how easy it is to use.