Long Island is still on “fire” with a multitude of cash purchasers as well as those that have commitment letters from their lenders. However “Cash Is Still King” and still rules in the world of real estate transactions.
I received $35,000 over the asking price on a property in Levittown last week, which actually “shocked” the Trustee of the Estate. I had sold the owner’s previous home 10 years ago, but she had recently passed away. But I had stayed in touch over the years.
One of the most crucial and critical thing that I have learned, absorbed and practiced over 42+ years, was to “stay in Touch” with current and past clients. I learned this while performing this most important facet in growing my previous business of landscape design, licensed and certified and professional lawn-tree and shrub applicator, and our irrigation and carpet cleaning divisions. It is just as significant and far reaching today as it was 30+ years ago.
Your current and past clients referrals are truly the life-blood of every successful business and without this simple task of keeping and staying in touch; one will never scale one’s business to attain its “optimum lucrative and profitable level.”
Yes, it does take a “1 minute manager” a book written by Kenneth H. Blanchard written in 1982, and still very current today; in order to accomplish this feat.
But it can be learned and adapted with specific conditioning through one’s concerted efforts, disciplined actions and the sacrifice of a commodity that is irretrievable, unrecoverable and you can not create it, your valuable time! By understanding these 6 concepts from my pending copyrighted S.A.C.E.D.S.© formula can assist in scaling your business to potentially earn a $100,000 the very first year.
What many in the real estate industry still don’t do sufficiently is to “stay in touch” and follow up on a regular basis, with their current and especially their past clients.
When is the last time to you called your past clients? It is as simple as making short and concise videos to say hello, email or video text, snail mail or a short notes.
Maybe deliver a bag of bagels for your Jewish clients after the holidays. Providing an inspirational book for Kwanza to your black clients. Celebrating “Diwali” (also known as Deepavali), celebrating the “Festival of Lights” with a sweet treat or food or small gift for your Indian past clients.
Lastly, Ramadan began this year on March 10th and finished on April 10th and was 1 month of fasting, celebrated by the Muslim community. A small gift or some sweets on Eid, the day after Ramadan finishes would be appropriate, again staying in touch with your clients. In 2025, it begins on February 28 and ends on Saturday, March 29 at sundown, so you should add it to your calendar.
Back in February, the Long Island Board of Realtors held an event for the Lunar New Year, celebrating the Year of the Dragon at New Fun Restaurant in Great Neck. The Village of Great Neck Plaza also celebrated the holiday, with another event that our Mayor Ted Rosen hosted with all the participants.
Being involved in these types of events goes a long way, in showing your clients that “nobody cares how much you know, until they know how much you care and know.” By participating in these celebrations it provides the evidence and proof that all your clients and their cultures are important to you.
This will form a strong bond between you and your current, past and future clients.
It is extremely important to notate the holiday dates in one’s calendar for the varied cultures that you have previously completed transactions with. If you haven’t stayed present with your past clientele, maybe it’s time to re-establish some rapport and build back those most crucial and critical relationships.
Your business doesn’t stop after you were paid at the closing of the transaction. It actually continues into the future by creating advocates and communicating and staying in touch for your most valuable and cherished referrals. This will enable you to grow, enhance and scale your business to greater profitability.
Philip A. Raices is the owner/Broker of Turn Key Real Estate at 3 Grace Ave Suite 180 in Great Neck.
