A new feature to Tech Touch is the Lifetime Value Calculator supplied by our new partners Adwerx
As a real estate agent, you get paid by commission. This commission is the culmination of a lot of hard work, marketing your business, securing the client, promoting the property, and negotiating the sale. It stands to reason that you would put a value on that client equal to the commission you earned on the transaction, right?
Your client is worth more to you than that. The value of that client shouldn’t be based on one transaction. It should be based on the relationship you have going forward, over its lifetime.
The Lifetime Value of a Client (LTV) is a real, calculable figure that takes into consideration several factors:
1 Age of your client
2 Average years in a home
3 Repeat business
LTV is the total inflow of cash resulting from your relationship with a client over the entirety of that relationship, not just a single transaction.
We believe that thinking about clients through this longer-term lens is the right way to grow your real estate business, and we’ll be exploring this topic in even more depth in the coming months.
We built a calculator so that you can do the math. Click on the calculator below. Share it with your colleagues. https://www.adwerx.com/ltv_calculator?utm_campaign=ltv&utm_medium=ext_blog&utm_source=real_trends&utm_content=&utm_term=ltv_calculator
Try out the LTV Calculator and see if the value of your client surprises you.