No two brokers, even these working in the identical trade vertical in the identical market, have the very same methodology of constructing significant shopper relationships. That’s why one of many hottest matters at this yr’s Society of Industrial and Workplace Realtors’ Fall occasion was sharing the perfect suggestions and tips on how to take action.
One panel on the Los Angeles convention, titled “Retaining Tenant Rep Purchasers in Right now’s Extremely-Aggressive Atmosphere”, featured among the nation’s high brokers. Every one was requested a query after which had their reply in comparison with the identical query prompted to ChatGPT.
Reinforcing relationships
The primary query of the panel, requested to Michael Feuerman, managing director, Berger Business Realty, prompted him to clarify how appearing as a fiduciary bolstered his shopper relationships. In response, he defined that being a fiduciary means many issues, together with placing the shopper’s wants earlier than your personal. Feuerman advised a narrative about how, in a single occasion, shielding a shopper from a probably irresponsible tenant misplaced him two massive charges. However, years later, he nonetheless represents that shopper resulting from their belief in him.
“It means giving recommendation that typically isn’t within the dealer’s finest curiosity,” Feuerman defined. ChatGPT, however, gave extra summarized and generic recommendation, telling brokers to discover alternate options to offers.
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One other query, posed to Walter Robinson, president, Robinson Business Actual Property, equally explored the significance of long-lasting shopper relationships. When requested how he cultivates relationships past enterprise transactions, Robinson defined how he takes it to the subsequent degree.
“My shoppers are my associates and my associates are my shoppers,” he stated. In a single occasion, as a substitute of arranging a shopper lunch, he initiated a household dinner as a substitute. However, it’s essential to notice that not all shoppers wish to get to that degree. It’s essential to deal with folks how they wish to be handled. And finally, it’s a win-win.
“Conserving shoppers is simpler, inexpensive and extra enjoyable than getting new shoppers,” Robinson stated.
ChatGPT had attention-grabbing ideas as properly, however once more, extra generic. The AI beneficial neighborhood involvement, sending a present or expressing shared pursuits with shoppers.
Sustaining connections outdoors of latest offers
Bo Hargrove, principal & vp, Wealthy Business Realty, is extra targeted on relationship constructing than prospecting. Numerous know-how for brokerage is centered round discovering new shoppers. However Hargrove was posed a query about how he makes use of know-how to strengthen his present ones.
“It’s important to have a superb CRM,” he stated. And what does his CRM do to assist him retain shoppers? Loads.
Hargrove has an inventory of contacts’ birthdays harbored in his. And each birthday, they get a message. He defined that, as you grow old, much less folks begin wishing you a cheerful birthday, so it’s all the time good to obtain one. And the open and reply ratio is about 90 p.c.
“One other low-hanging fruit that we use is Google alerts,” Hargrove stated. Every time one thing occurs with a shopper, he needs to be the primary to know. That manner, he can proceed to remain in contact and decide up the telephone to offer these shoppers a name about regardless of the information could also be. However, he identified, the bottom line is the telephone name. E-mails don’t have the identical significance.
For this query, ChatGPT additionally had some good concepts: internet hosting digital occasions, digital signature administration, and scheduling software program and calendar hyperlinks to make issues simpler on each ends.
Taking steps outdoors of simply the transaction to strengthen shopper relationships is essential. For an additional query, Patrick Sentner, government vp, Colliers, was requested about how he strengthens relationships outdoors of the steps taken to shut a deal.
“Proving loyalty,” Sentner stated.
Typically, this implies not pitching for a competitor’s offers, and even turning down enterprise that involves the door. Different occasions it’s placing collectively an ideal proposal on an present shopper relationship to proceed to point out the worth that’s being dropped at the desk to win future enterprise alternatives. As a result of finally, dealer to shopper relationships are way more nuanced than a one-time transaction.
ChatGPT’s reply? Extra generic, once more. This time, the AI beneficial offering key insights or sponsoring occasions for the shopper. However, because the brokers famous, you possibly can all the time go deeper than that.
