Your Real Estate Brand vs 2013: A World of Data and Reviews

Guest contributor Chris Drayer of RealSatisfied says:

Perhaps scare tactics should be reserved for Halloween. However, in 2013, we will see the growing divisive nature of customer service and brand quality. Real estate brokers and brands beware.

With empowered consumers searching for answers and online agent review sites full of polarizing data, like Homelight, there will be a greater divide between the haves and the have-nots in the form of stars, smiles, likes, testimonials, recommendations, or even LinkedIn's new influence score.

Real estate has relied on the the referral model for over 90% of its leads for decades. Now, more of those referrals are checking up on you online before pinging you.

So, what is at stake? If you are a single agent rookie – not much.

If you have helped build a brand a team, or perhaps a company, you know it did not come easily.

"Customers will not hesitate to defect to competitors or go social with their complaints if your business does not deliver on its service promise." - Anand Subramaniam

When companies fail to deliver on their service promise or fail to value a focus on customer service, they run on the edge of a cliff. They might not fall, but it's a gamble. The greater risk is to have a landslide of brand erosion beneath their feet. When a landslide is imminent, there is no stopping it--evacuate the brand.

Only one out of 20 angry customers tell the offending company. Who do they tell? They attack your credibility from your sphere, using social media.

This is not to say that everyone needs GoodLifeTeam style 5-star oriented service. For now, there is still room in the market for lousy mom and pop shops that frequently drop the ball (and thus real estate's lowly overall lack of trust title among professionals will remain secure).

The trick is to determine if your brand's values align with caring for customers. If so, how do you make improvements to your reputation when you only see 5% of the angry or upset clients? That's not statistically sufficient data to warrant change. Where is the data?

You value sales. You track sales data.

You value recruiting. You track recruiting data.

If you also value quality customer service and experience, you ought to track and measure these as well. If not, how will you know if you are delivering on your quality service promise?

Measure feedback on your brand's reputation. With data, you are free to follow your vision and deliver quality service – both as a leader and as a brand.

To view the original article, visit the RealSatisfied blog.