5 Important Marketing Practices for Real Estate Attorneys
Real Estate Attorneys rely on a steady flow of business to stay in business. Simply being the best real estate attorney money can buy may not be enough to keep you in business. Like any business, a strong and effective marketing strategy is essential. Here are five marketing ideas developed specifically for real estate attorneys to turbocharge their workflow and profits.
1. Have a referral system in place
Be ready to discuss your referral system with anyone who can refer your business. Work out a fair reward for referrals that will be enough to be an incentive but won't break your budget.
This may involve a success fee paid once you have completed work for a referred client. Carefully calculate the cost of your own labor, software, hardware and office overheads. Divide this by your standard number of clients per month. This should give you a good break even point per client, and let you set a realistic referral fee.
Once in place, you can establish your referral network by networking with referral partners, such as realtors, financial planners or accountants. Think about who else might advise your clients, particularly at the crucial point of purchase and sale of a property. Those are your potential referral partners.
Clients can also be referral partners. Include details regarding your referral program in a client newsletter, on your website, or in a flyer or follow-up message during the closing. Be clear about the incentive, and when it will be paid.
2. Attend the closing
Too often, the seller’s attorney doesn’t show up at the closing, sending instead a closing agent or representatives from the title company. This is a missed opportunity. By turning up to the closing, you can obtain more face to face time with your clients, strengthening the relationship and showing you care about this crucial life milestone for your clients. People refer professionals they trust. Building rapport at this point in the process gives you a chance to request a referral or review without seeming disingenuous.
3. Bring a Thank You gift for your client
In a similar vein, turning up with a thank you gift shows you genuinely care about your client’s life milestone, and can be an opportunity to leave a tacit, lasting reminder of your involvement in this process.
Gift ideas could include a bottle of wine, a housewarming gift, or a dinner at a local restaurant in their new area.
4. Request a review
The best way to sell your services is to have someone else sell them for you. Turning your clients into evangelists of your work is the most trustworthy way to gain more work. That’s why review sites like TripAdvisor are relied on by so many travellers; reviews are regarded as more trustworthy than advertisements, however glossy or expensive.
Timing is important. Ask for a review when your client is happiest with you; in other words, just after closing. Make it easy for them - send a link to your Google business page or another review page, with instructions on how to leave a review.
Establish a network
Actively establish a network of referral partners. Start with the other parties involved in closings, such as title companies, realtors, title insurance representatives, or attorneys for the other party. Not all referrals need to involve financial incentives. Proactively referring business to people who can help you can establish the goodwill you need to see those referrals returned. Go out of your way to see how you can help a potential referral partner with their business.
Of course, good marketing needs time. Easysoft Legal Software frees up your time by automating many of the complex calculations and processes involved in real estate closing.
Learn more about how we can help streamline your real estate closings and start your free trial of Easysoft today.
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