Fall is the perfect time of year to schedule a real estate review with our clients. Like financial planners and advisors who meet with their clients annually, we have an opportunity to position ourselves as advisors in reviewing their real estate assets and the markets that surround them. It’s a great excuse to touch base and deepen relationships through sharing our expertise and insights.

This year has brought a unique opportunity where we’re able to share great news about current home values and discuss the market outlook for the coming year.

Advisor vs. Salesperson

The goal of the review is to position ourselves as an advisor, to extend our value and relationship outside of a transaction and to generate referrals from our past clients and current homeowners. We must enter the annual review as a resource, not as a pushy salesperson.

Keep It Simple

A full comparative market analysis isn’t necessary. A majority of those we’ll connect with are not looking to sell, so spending hours sourcing relevant properties and comparables is wasted time. Instead, prepare a general overview of what’s taken place over the last year. This can include using tools like InfoSparks or BrokerMetrics to produce a one-page summary of the market, and you might also include a one-line report showing similar listed and sold homes. Keeping it simple allows us to maximize our time in creating and delivering reviews without overwhelming homeowners with unnecessary information.

The Process

Start with your past clients that purchased 12 months ago, and work backward. Once you have your list of clients and packets, reach out with a call. Connect as you normally would and state the purpose of your call. That you are an advisor, much like a financial advisor, and would like to talk through an annual review of their real estate. A key phrase is to let them know that you’ve “prepared a packet,” so that they understand that you’ve already put equity into the review. Ask them for 10 minutes in the coming week to review, whether in person or virtually. You might even state that you understand that they’re likely not currently looking to buy or sell, but that many of your clients are interested in understanding what’s happening in their market. There may be some that are too busy or ask you to just send it to them. That’s OK, but know that the most effective way to connect with them and foster the relationship is face to face. The least effective way is to email the review, so your final effort, if unable to meet in person or virtually, should be to put it in the mail.

The Meeting and Closing Questions

During your meeting, catch up with each other by asking F.O.R.D. questions (family, occupation, recreation, dreams) to connect and hear if they might have life changes coming. Begin the review by highlighting a few interesting stats that illustrate what’s happening in their market — just give them the high level. If you’re asked about the value of their home, let them know that you would need to create and present a complete analysis, and that’s typically done when someone’s interested in selling. You can then ask if they have been thinking about selling. In wrapping up the meeting, there are two important questions:

What are your long-term plans for the property?

Is there anyone you know who would find a review like this valuable?

This is another opportunity to learn future real estate needs and to walk away from the meeting with introductions and potential referrals.

The annual real estate review allows us to stay in touch with past clients, position ourselves as a resource and generate referrals. The best part about the timing this year: We get to deliver positive news.