The (in)faithful buyer

Inspired by the approaching Christmas season, more precisely by the faithful companion at the table of most Portuguese people, I thought it would be interesting to talk about the increasingly complex challenge of customer loyalty.In real estate mediation, this challenge is very present due to the customer resistance to working on an exclusive service basisthat is, in working loyally to a single real estate agent who will help you sell or buy your home. In Portugal, it is estimated that a moving house tends to happen, on average, every 8 years, This temporal space is highly variable because, unlike the useful life of a car, for example, the house has a very heterogeneous useful life depending on the use and needs of those who live in it. For example, in the case of cars, it is considered that the useful life is 4 to 5 years and, therefore, many financing are calculated and programmed so that, during this period, it is possible to create advantageous conditions for the exchange of car with the objective of stimulating the repurchase after this period, preferably , loyal to the same brand. That’s why the automotive industry knows so well the extreme importance to build a long-term relationship strategy which starts right from the first contact and aims to reach this moment.

The customer loyalty journey

Coming back home, it is curious to note that the most delicate moment in the loyalty journey for a mediation professional is not the after-sales, that is, the new moment when your client will again make the decision to sell, buy or lease, but yes the moment he can recommend the service and the professional who helped him with his transaction last.Because? Because the period in which you will make a new decision to sell, buy or lease is totally unpredictable, even if there are statistics that may indicate a trend. And that’s why the most delicate moment of loyalty is not just the after-sales, but the entire experience from the first contact with the customer to the completion of the operation🇧🇷 It has to be so memorable that whenever he talks to someone about selling, buying or renting he will remember the agent he worked with to recommend him. As for buying a home, it is important to mention that it is a slow process. Those interested study the market, look at various alternatives with various professionals and, as in Portugal it is not usually a process accompanied by a single professional who can bridge the gap between parties.spreads out “promises” to the various professionals he meets until he makes a decision.While you make your visits, and until you find the property you want, you have a generally untrustworthy behavior just because he is not involved with the agent, but with what he is looking for!Read more: How to buy or sell a house in times of uncertainty?

Unfaithful buyer?

Many mediation professionals classify (and even unfairly) this behavior as unfaithful behavior because the interested person talks and makes visits with several agents, even though the professional with whom he spoke in the first place has made himself available to help him find the house he wants, even mentioning that he can show any property that is on the market, or at least that is being sold on a sharing basis. . A large number of professional real estate agents who work exclusively share the possibility of sharing the commission of their properties with other agents. Unfortunately, and despite this possibility, a a large percentage of fundraising is done on an open basis (it is estimated that in Portugal it is more than 80%), which means that they are made with customers who are not very loyal and then shown to potential buying customers who will tend to have an equally low loyalty behavior.Read more: Prospecting in the palm of your hands

Real estate agency contract to buy a house

Some companies, possibly inspired by North American and Canadian models where a high level of exclusive service dedicated to buyer customers is already working, have developed the possibility of offering a service dedicated to potential buyer customers through a real estate mediation contract not to sell, but to buy a house.It is legally possible to do so in Portugal and it meets the activity of Representation or Procurement. Designates that potential client you can only buy a property with that agent during a certain period, and in accordance with previously agreed characteristics and conditions that must meet the wishes and needs of the buyer customer. This creates the necessary confidence to allow the client to recognize value and become loyal to the professional he has chosen and who will certainly work more motivated in the search and negotiation of a solution that is completely tailored to his buyer client. While it is not known what the client has to gain if he invests in a relationship with a real estate agent, and why does this imply a commitment to work exclusively, that is, in a contractual and transparent manner, the buyer will always be the in(faithful) customer who will only be attracted and will only be focused on two things: product and price.Also read: What you should know when signing a real estate contract “Real estate is my life and my life is dealing with people.” Living in Lisbon and working in Portugal, Spain and Italy, Massimo Forte is above all passionate about real estate, a business that he considers to be from people to people. With more than 25 years of experience in the largest real estate brokerage companies, he is now dedicated to consulting, training and sharing knowledge as one of the biggest Real Estate Influencers in Portugal.