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Real Time Real Estate

April 03 2013

readyFrom news events around the world, to financial events across the nation and interest rates across town, information and data are now available as they happen--enabling everyone to make better, faster, and timelier decisions.

Imagine a descriptive weather report without the temperature or the daily NYSE and NASDAQ update without a report in indices changes. Unimaginable! Facts in measurable terms have become essentials. Everyone from children to the elderly requires information in absolute terms, on a comparative basis, and in a final analysis.

How are facts in measurable terms collected, analyzed, compared and shared relative to service in a real estate brokerage? Not production and sales data, but service delivery data--those key events and activities between client and service provider that define overall service performance and crucial areas of service delivery. The truth is that, in most cases, they're not being measured!

What if the overall and the specifics of service performance and client satisfaction were available at the agent, office, and company levels? What if an agent, manager or owner could access today's service performance and client feedback in real time? Now, for those satisfied with their results, what if some of this information could be made available to prospects?

Out of the darkness with real time results.

In fact, agents, brokers, owners and managers who are working with Quality Service Certification can avail themselves to service performance results--in real time. An integral component of the QSC/RatedAgent.com program is the use of a customer satisfaction survey sent after every closed transaction. An independent research company administers the survey and then compiles the results from returned surveys. The aggregated statistical data updates daily and is posted onto QSC's password-protected back office reporting system. The system includes agent controlled options to publish their data on the consumer facing RatedAgent.com.

Does behavior or service performance change due to this process of accountability? Social scientists argue that the concept of "visibility of consequence" can dramatically influence behavior and outcomes. I know that the visibility and availability of my semester grades (to my father) held real consequences for me and had a definite influence on my personal study habits. I am only grateful that systems limitations made it impractical for him to see every paper and every quiz. That added visibility would have had a profound impact.

There is an old Latin proverb that states, "The game doesn't matter until you keep score." Providing real estate professionals with an independent means to measure the service that is delivered to their customers helps agents to continually improve, refine and confirm the quality of their service delivery. Joy Snyder, Quality Service Certified agent since 2003, of Prudential PenFed Realty in Ocean City, Maryland says, "I value the QSC program because it affords the opportunity for my customer and client base to candidly evaluate my service, providing a platform for me to enhance, improve and reinforce my business tactics."

Consumers want accountability plus much more.

Sales will continue to be an important driving force in real estate but measurably superior service, quality, and customer satisfaction will become a large part of the formula for long-term success and profitability. Consumers don't want to be sold--they want reliability, consistency, responsiveness as well as accountability. Ironically, it is not sales that will drive the opportunity for service, but rather service that will drive sales.

Service is serious business. Those who are serious about the ongoing success of their business are creating real standards of service, implementing systems to assure delivery, and are identifying problems along with excellence by measuring service results through performance feedback.

Kevin C. Romito is a founder and the COO of Quality Service Certification, Inc. He administers the RatedAgent.com website and the REALTORĀ® Excellence Program (REP). For inquiries, visit RatedAgent.com, or contact [email protected].