2021 RealTrends 500 Now Live!

The RealTrends 500, now in its 34th year, remains the undisputed leading report ranking the performance of the top residential real estate brokerage firms.

Gathering of Eagles

The Gathering of Eagles conference is the Trusted Source, offering brokers, managers and leaders valuable insider industry information on how to run a profitable business.

RealTrending: eXp’s Glenn Sanford

Glenn Sanford, CEO of eXp World holdings, addresses his critics about his agent referral program, where he is taking the company next and growth limiters for the brokerage.

Newsletter

The RealTrends monthly newsletter is known as the trusted industry source for information on trends, strategies, analysis, people and news shaping the real estate industry of tomorrow.

A 2018 Trend You Can’t Afford to Ignore: Customer Experience

“The deepest principle in human nature is the craving to be appreciated.”  – William James

Getting a customer in real estate today can be as tough as a $3 steak. But keeping the customer can be tougher than a $1 steak.

Competition has crept in from every corner and the market grows more and more crowded every day. What’s more, customer expectations are always on the rise. They want more, better, faster – all the time.

It’s a fact not lost on businesses of all types. And some forward-thinking and super innovative companies (Zipcar, Dun & Bradstreet, and Visa are among them) are already ahead of the curve by going beyond customer service and creating “customer success” departments. In essence, the job of these departments is to ensure:

  • Customers are the absolute number one priority at every turn
  • The company consistently delivers above-and-beyond all customer expectations — even if it takes more time or money to do it
  • Customers have an amazing experience when they engage with the company.

customer service

Think of the old saying “under promise and over deliver” and then stir in lots of steroids. The end goal is this: make the customer experience so good that they will stick with the company until they die. Businesses – the good ones at least – know it’s much smarter to do what’s necessary to keep a customer than to attempt to win back a customer who’s left.

This customer experience trend is real – backed by research. Salesforce.com, a sales software company, surveyed 3,500 companies for its recent fourth annual state of marketing report and says nearly two-thirds are adopting customer experience efforts.

Other revelations from Salesforce’s research:

  • Over the past 18 months, 64 percent of marketing execs said their company had sharpened their focus on customer experiences because of changing customer expectations.
  • About 65 percent of consumers said they’d switch vendors if a seller didn’t personalize customer experiences.
  • A whopping 89 percent of consumers say they want companies to better understand their needs and expectations.

What these statistics say to me is this: Realtors need to get serious about making their customers’ experiences more than memorable – they need to make their experiences astounding.

So, how do you make their experiences astounding? Here are some tips:

Be proactive, not reactive – Up until now, the world of customer satisfaction has been about reacting to problems customers had. But today, in the new “customer experience” economy, it’s about preventing problems by ensuring the experience is not only problem-free, but also, as I mentioned earlier, astounding. To do that, carefully map out the journey customers have with you, from the first time you meet them and then at every contact point afterwards. This will help you think ahead to prevent problems.

Keep the focus on the customer at all times – I know, the world of real estate is crazy and things pop up all the time and it’s easy to get distracted and lose focus on the customer. But remember, it’s ultimately the customer who pays the bills. Keep a reminder on your desk, on your phone, in your car — something as simple as a post-it note with “The customer is always #1.” Or, before you do anything, ask yourself this question: “How will this help my customer?” When you take care of the customer, other problems take care of themselves.

Do a weekly research on “above and beyond” service – The beauty of living in the information age is, well, there’s a lot of information out there. So take a little time each week to find some examples of how other Realtors (and other businesses) are taking customer experiences to the next level and then up your game with what you find.

Let me hear from you. How are you creating great experiences for your customers? Is there room for improvement? Do you think your business would improve if you were able to make the experiences better for your customers?

 

Bubba Mills is the CEO and owner of Corcoran Consulting and Coaching Inc.  an international Real Estate, Mortgage and Small Business coaching company committed to helping clients balance success in business, while building value in life. 

Most Popular Articles

RealTrending: eXp’s Glenn Sanford reveals what’s next for company

Glenn Sanford, CEO of eXp World holdings, addresses his critics about his agent referral program, where he is taking the company next and growth limiters for the brokerage.

Apr 12, 2021 By

Latest Articles

RealTrends 500 brokerage RE/MAX Gold Nation merges with RE/MAX Equity Group

New RE/MAX Gold Nation brings together two of the most influential RE/MAX franchises to expand training, referral opportunities along the West Coast Three titans of the RE/MAX network – James O’Bryon, CEO of RE/MAX Gold Nation; Chuck Ochsner, broker/owner of RE/MAX Equity Group; and Chad Ochsner, employing broker of RE/MAX Equity Group – are merging […]

Apr 15, 2021 By