experience management for real estate: how online reviews can make or break your company

Experience Management!How Online Reviews Can Make or Break Your Company

Laura Monroe, Director of Marketing, RealSatisfied

@LauraMonroe

88% Of Consumers Trust Online Reviews As

Much As Personal Recommendations

Consumers read an average of 10 reviews before making a decision

78% of sellers still find their agent based on the referral of a friend or family member, or by having previously done business with the agent or broker. ! *RealSatisfied Seller Survey Results

FACT

The real estate industry has only just BEGUN to incorporate online ratings & reviews

But they don’t own the customer experience – you do

The Road to CX Excellence Is Paved with Customer Insights

80% of companies say they’re customer centric,

yet only 8% of customers agree. !!

Managing Your and Your Agent’s Online Reputation Means Managing Your

Customer’s Experience

Not Just Reviews

While the vast majority of people read reviews online, only a very small minority write them.

Bad reviews will usually come Where and When you least expect it.

Customers Want to be Valued and Heard

How many of your customers do you think would agree that you are customer

centric? Do you know for sure?

From the moment a customer walks in the door or picks up the phone, you can have very specific protocols aligned with

your visions around how that customer will be treated.

Facebook is the leading resource for positive reviews

“Absence of feedback is not a sign of satisfaction”

Customer Experience Leadership Can & should be a part of your culture

“I think its very important to have a feedback loop, where you are constantly thinking about what you've done, and how you could be doing it better.”

Elon Musk, TESLA

The testimonial!

Customer feedback!

Minimize negative reviews by adding a layer to the review process – one that you control.

Craft a valuable customer survey

All closed transactions should be surveyed.

Provide agents with the proper training and tools

•  Equip agents to inform clients during listing presentations or interviews •  Provide email templates that they can personalize to help them do this

Clarity of Data Leads to Effective Action

•  Where is your business coming from? (web, portals, etc.) •  What “factors of influence” are used to choose an agent? •  What improvements can be made to agent performance? •  What is the return rate for testimonials and reviews? •  What do clients love about their agent? •  What insight on coaching or training opportunities? !

Collect Feedback from First Time Customers

•  Say thank you •  Give a perk – gift card, coffee, etc. •  When collecting testimonials by email !

Collect Feedback from Repeat Clients

•  These are your brand ambassadors •  Client thank you events •  Give them something awesome to share

on social media or otherwise !

Missed Opportunities

•  Lost listings •  Welcome emails •  When collecting testimonials •  Online website visitors •  Un-opened emails from subscribers •  Non-returning customers •  Website leads who return but haven’t been contacted !

Competition Drives Improvement

•  Create benchmarks of excellence (recruiting) •  Reward & celebrate agents on performance (retention)!•  Broker involvement on social media to amplify great reviews

“Whilst many of us see the future of our industry in technology leadership, if we don't do the basics right we will not earn the right to a future. Asking our customers for feedback, is not a revolutionary concept. The challenge for everyone is having the

courage to listen and change.”

Grant Herrod, CEO LJ Hooker, Australia