Why is LTV Important in Real Estate? July 11, 2013 4:57 pm
Real estate is a very, very interesting business. We tend to get very intimate with people. We can become familiar with them, their patterns, their finances, their dreams, and their aspirations. We build a bond. We go through the home buying process with this person, one of the biggest investments they’ll ever make. We get close to them, we go to closing with them, we get paid, and some of us never talk to them again.
What some business people do is they go out looking for new business instead of taking care of the ones who have already done business with them. This is why we highly recommend you focus on the Life Time Value of the Customer, because every Customer has a Life Time Value. It’s not only in the commission that they’ll bring you, but the repeated commissions from them over time. Couple your commissions with all of the referrals they can send your way and you will see that referrals are the lifeblood of your organization. What I want is not just that person’s business, but I want their database, and I’ve got to earn the database.
To sign up for Texas Real Estate Courses visit: www.AustinInstitute.com