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.
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.)