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Sign into your accountWhat Are Your Clients Saying About You? The Importance of Consumer Surveys for the Real Estate Industry
November 04 2015
A good client referral can result in a whole lot of business for a real estate agent. One person has a positive experience and shares that with their sister, friend and neighbor; all of a sudden the real estate agent is listing another three properties. The same effect can happen with a negative client experience, except a whole lot worse.
According to the National Association of REALTORS® (NAR) 2015 Member Profile, roughly 20 percent of a REALTOR®'s business comes from repeat clients and another 20 percent from referrals from happy customers. How do you know if your clients are happy with your services, unless you ask?
Sure, word of mouth can help you build a positive reputation and grow your business. But if you're not asking your clients what they think of your services as a real estate professional, how will you really know what they're saying to their sister, friend and neighbor when your name is brought up?
With 85% of consumers reading online reviews for local businesses (BrightLocal 2013 Local Consumer Review Survey), real estate professionals can now also benefit from the marketing power of online reviews.
At its 2014 conference, NAR announced its intent to establish a Code of Excellence which would include standards for collecting feedback on agent performance. With this announcement, survey companies have gained traction in the industry. With most feedback happening after the close of a real estate transaction, many survey companies are partnering with real estate technology providers, such as Lone Wolf Real Estate Technologies, to integrate consumer surveys into the transaction process.