Customer experience is rapidly becoming the defining feature of a company’s reputation. According to a report in B&T, the impact of poor customer service is costing Australian businesses AUS$122bn every year – as clear a demonstration of the dearth in customer service excellence as you’ll see anywhere in the world. This leaves a huge gap in the market for savvy business owners, and that includes in real estate. Providing a better level of customer engagement starts with better advice, and there are few industries like real estate when it comes to the need for high quality advice. This begins with helping customers to understand their financial commitments.
For many homeowners, their purchase will be the biggest they ever make. The money involved can be eye-watering, and is a huge undertaking. Unsurprisingly, money advice being given to Australians is not always the best: ABC.net.au notes that many homeowners already pay too much on their mortgage. As a real estate agent, you might not be in the position to provide financial information, but there is a lot you can do to help your clients get through the discovery process on their new home, and to put good habits into action. After all, there are lots of steps home owners can take to reduce outgoings, from looking to review their home loan through to avoiding unnecessary financial products. Providing these tips can help to promote the good reputation of your business, and show how you care about your customers and their experience.
A wider net
Many people come into the real estate market with a single property in mind, or at least a template of what they’re after. A real estate agent who acts in an advisory manner can help them that little bit more by establishing how they want to purchase, and using their experience to give advice on their needs and requirements in a home. First time buyers often aren’t entirely aware of the ins and outs of home ownership and how their own needs can change; real estate agents can offer that.
There is some limit on how much customer retention a real estate agent can provide. Many families will stick to the one home, while others may move on to properties not within the portfolio of the agency. However, there is always a chance that customers looking for their next home or next property will turn back to your agency for a bespoke experience once again. Being able to provide a range of experience to customers, and having great engagement with them the first time round, will give you a great reputation and increase the likelihood that they’ll link up with your business again in the future.
What this all feeds in to is the personal approach. Now more than ever, consumers appreciate and value authentic interactions with the businesses they’re involved with. Being able to offer that in real estate will help your business to rise above the rest.