J.D. Powers Rates Cars AND Your Real Estate Clients

By
Real Estate Agent with Fathom Realty West Sound WA State 52404

We've all the seen the added promotional mileage that auto manufacturer's have received from having their latest model receive the prestigious J.D. Power & Associates Award...

Well, the global marketing information firm based in Westlake Village CA, and a business component of the McGraw-Hill Companies, has been taking on the unbiased task of surveying consumers of real estate services, both buyers and sellers, and awarding the top national real estate organizations accordingly.

In their recent 2008 survey among Home Buyers, Keller Williams garnered top spot for customer satisfaction, while Prudential ranked the highest among Home Sellers.

Overall Customer satisfaction was determined/evaluated by examining the following factors:

For Home Buyers:

  • The Real Estate Agent (65%)
  • The Local Brokerage Office (21%)
  • The Level of Services provided (13%)

For Home Sellers:

  • The Real Estate Agent (43%)
  • Marketing (38%)
  • The Local Brokerage Office (12%)
  • The Level of Services provided (7%)

Just to highlight a couple of their findings worth mentioning:

  • When buying a home, customers particularly appreciated the level of agent professionalism; their responsiveness to calls and e-mails (gee, fancy that); and the agent’s skill in locating and showing properties in the appropriate price range
  • Nearly one-half of respondents (46%) report using recommendations from family or friends to find their real estate agent. Approximately 28 percent used the Internet, while 23 percent used an agent they had used previously and 11 percent used a printed real estate guide.

Jim Howland, senior director of the real estate and construction practice at J.D. Power and Associates, made the following observation:

“Although the Internet provides home buyers and sellers with the ability to perform some essential tasks—such as listing a home for sale or researching a neighborhood in which to purchase a home—it still does not replace the importance of a good real estate agent. Particularly in an uncertain real estate market, professional advice from agents can be especially valuable to buyers and sellers. The knowledge and expertise provided by experienced agents is an important benefit of using a full-service real estate company.”

One interesting statistic from this survey: Even though more and more consumers are using online tools and technology to assist them in the home buying and selling process, the agent factor carries the greatest importance among the factors that comprise overall satisfaction among both home buyers and sellers.

It's not sure at this point whether or not the smaller regional real estate companies will be surveyed and ranked. For now, it only entails the larger national/international corporations.

So here's a question: Does the fact that a particular automobile has achieved/earned the J.D. Power & Associates Award influence your decision to purchase that particular vehicle? Do you think a similar rating for real estate companies will influence consumers to use a particular company/agent?

For more information, checkout the official J.D. Power press release

(From what I've been able to determine, J.D. Powers & Associates has been surveying the 1st Time Home Buying & Selling clients of national agencies, and providing customer service ratings since 2001. I attempted to contact J.D. Powers corporate to obtain clarification, but I was very curtly directed to their corporate website as the sole source for information.)

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Rich Jacobson is a District Director for Fathom Realty and a licensed REALTOR®; an avid Crab Hunter, Clam Digger, and Oyster Shucker, He is the Social Media Evangelist for Life on the Kitsap Peninsula & The Western Puget Sound in scenic WA State.

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Rainmaker
276,549
Eric Egeland
RE/MAX SUBURBAN - Libertyville, IL
SFR, e-PRO, CDPE

thanks for the post Rich.

You have some great info. here....I personally don't think JD Power will influence how most people will choose their agent though

Jul 29, 2008 05:17 AM #1
Rainer
78,084
Rebecca Schrader
Competitive Insurance of Dundee - Dundee, FL

wow, that doesn't make me feel so great.  I'm the exception not the rule here.

Jul 29, 2008 05:23 AM #2
Rainer
201,303
Mana Tulberg
805 County Real Estate - Camarillo, CA
Real Estate Agent - Camarillo CA

Rich, I guess this new service by J.D. Powers has to become a trend and more available to the consumers before the home buyers and/or home sellers become influenced by their reports.

Jul 29, 2008 05:27 AM #3
Rainer
179,681
Erik Hitzelberger
RE/MAX Alliance - Louisville REALTOR-Luxury Homes - Louisville, KY
Louisville - Middletown Real Estate

Rich - I noticed a couple of other interesting points.  First, Sellers Satisfication is about 20 points lower than Buyer satisfcation.  This is most likely market related and not agent or agency specific.  Also, I thought that this was powerful...

"Satisfaction averages 794 among those customers whose homes sold within 5 months or less, but declines considerably to an average of 730 among customers whose homes took 7 months or longer to sell," said Howland.

Jul 29, 2008 05:29 AM #4
Rainmaker
79,942
Matt Thomson
Fathom Realty Colorado - Littleton, CO
Helping you find success through real estate

One thing I thought was interesting...Keller Williams ranked as high as you could rank in buyer satisfaction with the agent, yet pretty low in the same category (agent) with sellers.  It's the same agents.

I think it's a good study, I'm happy to be part of KW and our #1 ranking, but I think it all comes down to what Gary Keller has said all along...Real Estate is a local business best run by local real estate agents.  People will hire agents based on their local reputation and abilities, not by the company name.

Jul 29, 2008 05:37 AM #5
Rainmaker
552,497
Jeremy Blanton
Myrtle Beach Homes Blog - Myrtle Beach, SC
Myrtle Beach REALTOR®- myrtlebeachhomesblog.com

Interesting question Rich...

I am not sure if I would base my sole purchase on just that...I would base it more on reviews of owners of the vehicle than just an award from a company...

Jul 29, 2008 05:46 AM #6
Ambassador
580,741
Rich Jacobson
Fathom Realty West Sound - Poulsbo, WA
Your Kitsap County WA Real Estate Broker

Jeremy:  Quit playing around with that Control Button!!!!

Jul 29, 2008 05:54 AM #7
Rainmaker
295,316
Marilyn Katz
Berkshire Hathaway HomeServices New England Properties - Westport, CT
ABR, e-PRO - WestportCTProperties.com

Rich-  I don't know if it will influence buyers and sellers, but it's nice to know that Prudential is near and at the top

Jul 29, 2008 06:39 AM #8
Rainmaker
317,751
Monika McGillicuddy
Berkshire Hathaway HomeServices Verani Realty - Hampstead, NH
Southern NH & the Seacoast Area

Being a Prudential agent I must say I like those results but to answer your question....No I would not buy a car or select a real estate firm based on information from a company.  Personal opinions matter more to me.

Jul 29, 2008 06:39 AM #9
Rainer
68,685
Alan 'AJ' Nisen California Contra Costa Mortgage Officer
A Large Bank in America - Lafayette, CA

Rich, in the last few years, there has been a trend by Internet companies to come out with the "best of" or give a "ranking of" etc.  There may be something to some of them but in truth, I want to have a referral from someone I know who I trust.  Take a look at restaurant reviews.  One person likes a restaurant and another doesn't. Someone is a friend, someone is an enemy.  Yes, I put faith in trusted sources.  AJ

Jul 29, 2008 06:57 AM #10
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