Respond to identified customer needs and expectations

Contents

Overview 3

Introduction to Evansdale Realty 4

Responding to requests 5

Products and services 6

Sourcing information about products and services 7

Selling services 7

Property management and leasing services 9

What do customers want from an estate agent? 10

Customer complaints 11

Handling complaints 11

Referring complaints 14

Responding to written complaints 14

Resolve outstanding matters 15

Check your learning 16

Summary 17

Overview

The main focus of activity in the Property industry, especially real estate and stock and station agencies, is to provide a sought after, high quality service to customers.

Competition is intense in our industry and the demand for excellence in accurately meeting customers’ needs is high. To lose a customer through customer dissatisfaction or the inability to meet their needs or expectations is a serious breach of the promise we make in a service industry.

An essential part of your ability to meet a customer’s identified need is your knowledge of the goods and/or services offered by your agency.

Remember that we all feel most valued as customers when we know our business is welcome and that our needs and expectations have been understood.

In this reading, we’ll look at how to respond once you’ve identified what property clients need and expect. Most probably, and certainly initially, customers will want information from you. This could be information about any or all of the following:

·  the services provided by your agency

·  contracts or their administration

·  current or planned property developments in your area

·  a sale or the sales process or a lease or the leasing process

·  property operations and policy or management procedures

·  sales and marketing services.

In this reading, we will use a broad definition of “customers”, which includes tenants and buyers as well as landlords and vendors.

At the end of this topic, it is intended that you be able to:

·  respond to a customer’s needs and expectations.

Introduction to Evansdale Realty

Throughout this topic you’ll see comments from the staff at the fictional real estate agency, Evansdale Realty.

Evansdale Realty has been operating in Evansdale, Belmore Heights and surrounding areas, and as far out as Brunswick Park, for over 15 years. It specialises in commercial and residential sales and leasing.

/ Sarah Hampden, Manager
Sarah is the licensee-in-charge and manager of Evansdale Realty. As licensee, she oversees all aspects of the business: sales, property management, trust accounting and strata management. She manages all aspects of staffing, including induction and training.
/ Vince Berger, Sales Manager
Vince is responsible for the day-to-day management of the sales team: listing, advertising, open house and other inspections for both commercial and residential properties.
/ Adrian Carrasco, Sales Consultant
Adrian works on the sales team and helps Vince with all aspects of the sales process, both in the office and on the road.
/ Jackie Mansour, Reception/Sales Support
Jackie wears two hats in Evansdale Realty – she’s the receptionist and also supports the sales team. She’s in charge of all office procedures and helps with the advertising, listings and photo displays.
/ Ellen Chu, Property Manager
Ellen manages Evansdale Realty’s rental property division. She’s responsible for tracking down, inspecting, listing and letting properties and collecting rent on behalf of the owners. She has responsibility for tenant selection and sign-up for all tenancy agreements as well as for the financial aspects of leasing.
/ Dave Mathews, Assistant Property Manager
Dave helps Ellen in all aspects of her work by keeping the internal property management systems running smoothly. He’s also involved in advertising properties for lease and organising repairs and maintenance.

Responding to requests

So what do you do when the phone rings, the computer beeps to say you’ve got an e-mail or the fax machine starts whirring? It may not be your job to answer the phone or collect faxes, but in most offices, it is everyone’s job to make sure that no call goes unanswered.

It is important to be realistic when responding to customer requests, allow sufficient time to either access the information or allow the person responsible to deal with the matter. If you are not the most appropriate person to deal with the request, then you need to be aware of what you promise. If you or someone in your organisation promises some action and then does not deliver on that promise, then the customer may get upset and take their business to another organisation.

The customer will appreciate knowing that you have not forgotten them and that you are doing your best. Keeping in touch with the customer is important. You need to follow up on the information that you promised, even if it means ringing the customer back and telling them that you are still researching the request, or the person responsible is still unavailable, but they will contact the customer as soon as they are able.

Providing information

Having information available or knowing where to go to get the information is essential. Responding to a client’s questions has a twofold effect for the business. It allows us to satisfy customer needs and also gives the office the opportunity to do a number of quality checks such as:

·  checking the effectiveness of our marketing and advertising

·  gauging the interest in certain types of products we have on the market

·  ensuring that our services are meeting market needs

·  enabling a database of prospective customers and clients

·  showing how the workload is spread throughout the office departments.

Most offices have a procedural manual, which sets out how to complete routine tasks.

Products and services

Central to your ability to respond effectively to a customer’s identified need is your knowledge of the products and/or services offered by your agency. In this section, we will look at some of the typical services likely to be offered by most estate agencies.

This information is used by all agents to help customers make an informed choice about properties or services they are interested in buying.

Customers demand professional and competent sales people who are well informed about the nature, function and range of products and services that are available to meet their needs in any given circumstance.

The starting point to product knowledge is studying the products that are available through your agency and arranging or categorising them in a way that makes it easy for you to offer your customer relevant, appropriate and valued information.

Most real estate agencies, regardless of their residential, commercial, industrial or stock and station focus, will offer combinations of the following services:

·  selling services

·  leasing services

·  valuation services

·  property management services

·  advice and support eg referrals for conveyancing, mortgage support and lending or financial planning.

We will look at each of these in more detail later in this reading.

Meanwhile, remember that this information is gained over time, and the key is to develop your knowledge gradually, learning about a few of the products at a time, so that you feel confident in your product knowledge and you are able to advise customers easily about products and services available in your agency.

Sourcing information about products and services

The knowledge your need to develop about your agency’s products and services can be gathered from a number of sources. Your knowledge will always increase over time as you develop more and more experiences however you can always improve your knowledge by using any of the following strategies:

·  participating in the sales or management processes in your agency eg by attending open house inspections or property inspections

·  reading the legislation or codes of conduct

·  consulting brochures, magazines, promotions or advertising

·  reading industry journals or papers to become familiar with the services your competitors are offering

·  attending training/product knowledge seminars

·  having conversations with people you work with

·  having conversations with customers who have used your products or services

·  having conversations with suppliers eg printers, advertising copy-writers, auctioneers

·  reflecting on your own experience

·  attending external courses on property or real estate management

·  researching on the Internet.

The best way to develop your knowledge of products and services offered by your agency is to ask questions of your supervisor or mentor.

Here are some likely services you should become familiar with.

Selling services

Most real estate agents will include the sale of property as the key service they offer clients. It is the ability for an agent to deliver the widest possible market of potential purchases from which one will emerge prepared to pay the best price that interests most clients. This is true whether the specialty offering of the agency is residential, commercial or industrial real estate or stock and station.

Selling a property is a complex process involving input from the agent at a number of critical steps eg the production of a targeted marketing plan and the compilation of a pool of interested purchasers (at the beginning of the process) to the contracting of an accredited auctioneer (at the end).

You should become familiar with which of these services your agency is able to offer a client.

/ Vince Berger, Sales Manager
Being familiar with the products and services we are able to offer clients gives me an important edge in the way I do business. It’s important that I do not over-commit our team by promising things to clients I’m not positive we’re able to deliver.
To encourage potential clients to list their properties for sale with us, I might promote the following services we offer at Evansdale Realty.
The Evansdale Realty company name and reputation
This provides one of the very highest sales platforms available in the Evansdale and Belmont real estate market.
Accurate property evaluations
On average, we complete at least one major transaction every week of every year. This provides our clients access to our specialist transaction database which ensures pricing accuracy and success.
Agent escorted inspections
Every property is only ever inspected in the presence of our negotiators.
Customised property marketing
We utilise only our specialist publications to ensure we reach our client’s target audience every time.
Timely information
We provide our clients with continuous feedback throughout the sale process.
Prequalification
Our skilled negotiators assure our clients of the best possible sale price every time.
Integrated marketing and advertising strategies
Our flexibility to customise our advertising campaigns to suit a particular property means the benefits of each client’s property are delivered to a targeted set of potential purchasers.

Property management and leasing services

Maintaining a rental role is another service most real estate agents are likely to offer— whether residential, commercial, industrial or pastoral (in the case of stock and station agents).

Owners of properties being leased through your agency are likely to be interested in the following services:

·  your agency’s strategy for minimising the vacancy of the property and attracting the best calibre of tenant

·  repairs and maintenance services, including a bank of reliable tradespeople

·  the a monthly statement of all income and expenses with evidence of cheques being banked directly into their account

·  an annual written report of state of repair (internal and external) and cleanliness

·  a mid year written kerbside report of state of apparent repair and cleanliness

·  a six monthly written report of the current rental value and the local area vacancy rate

·  an annual written report of the current reasonable selling price of their property.

What do customers want from an estate agent?

Potential clients want the agent who is going to sell their single greatest asset to have experience, expertise, professionalism and a fantastic track record. What are the reasons they will choose your agency over the next agency? Be prepared to be competitive when you answer the following questions:

1.  How long have you been selling real estate?

2.  How many properties have you sold in the last 12 months?

3.  From what advertising sources do the majority of local home buyers come?

4.  Approximately how many purchasers do you have listed on your books who might be interested in inspecting my property for sale?

5.  Do you recommend advertising on the internet?

— If yes, what sites do you use?

— Do you use virtual tours?

6.  Are open home inspections a good idea?

7.  What is your agency’s attitude to auction?

8.  If I were to auction, what is your agency’s percentage, over the last 6 months, of properties sold

— prior to auction?

— under the hammer?

— after auction?

9.  Over the last 6 months, what has been the percentage variation in a local property from asking price to sold price?

10.  What is your agency’s average length of time from the first marketing activity to offer and acceptance?

11.  What is the length of your agency period?

12.  Do you provide a Service Guarantee?

13.  If I am not happy with your service, what remedies do I have?

14.  What is the average cost of a marketing programme?

15.  Why should I appoint you as my selling agent?

Customer complaints

No matter how hard we try to identify and then meet customer expectations, inevitably we will fail on some occasions. Many complaints come from customers because they:

·  have expectations that have not been met

·  are already upset by some other matter

·  are tired, frustrated or feel that no one will listen to them

·  were treated in an unpleasant manner

·  had previous conflict with a member of the organisation or business.

Handling complaints

Most complaints come from people who genuinely believe that they have a grievance. It often results from a misunderstanding of what has been said or heard. Whatever the cause (or absence of cause) of the complaint, it needs to be treated seriously.

If a customer approaches you with a complaint, spend time with them to ensure that they receive the assistance and interest they would expect for the type of complaint they have.