(What you’re hoping for) – (What you get)

This might be the simplest possible explanation of customer satisfaction.

Dissatisfaction occurs when salespeople and marketers tend to try to amplify the first part (what you’re promised) while neglecting the second.

The ability to delight and surprise is at the core of every beloved brand (product, politician, teenager…). Overhype and shady promises will undercut that before it even has a chance to get started. Yes, of course you have to make promises to earn attention and trial. The mistake is when you put more effort into the promises and less into what you deliver. Promise a lot but deliver even more.

[One really important amplification: Research shows us that what people remember is far more important than what they experience. What's remembered:

--the peak of the experience (bad or good) and,

--the last part of the experience.

The easiest way to amplify customer satisfaction, then, is to underpromise, then increase the positive peak and make sure it happens near the end of the experience you provide. Easy to say, but rarely done.]

Credit reporting companies are starting to include payment histories in credit scores – which may help first-time homebuyers who have not established credit through traditional sources. It may also help consumers who have lost homes to foreclosure rebuild their credit.

These days, everyone can use a little help boosting their credit score so
share this article with your clients and prospects.

As far as real estate statistics go, one of the most useful and interesting is the housing affordability index. What good are sales numbers and prices if not put into context? The affordability index provides that context, telling us the percentage of homes in a given location that a family earning an average income can afford – by traditional standards.

The Housing Opportunity Index released earlier this month by the National Association of Home Builders and Wells Fargo shows that housing affordability was near its highest level in 20 years in the third quarter. A near-record 72.9% of all new and existing homes sold during this time were affordable to families earning the national median income of $64,200.

What’s fueling this feel-good statistic are major price drops in markets across the country and record low interest rates: two factors that obviously bode well for home buyers (especially first-time home buyers who aren’t depending on the same market conditions to sell a house). Interest rates on a 30-year fixed mortgage are still hovering around 4.2%, which means borrowing is cheap by historic standards. And while prices have stabilized in some markets, they’re still much lower on average nationwide than they were five years ago.

Buyers still rely on the expertise and experience of real estate professionals to find the right home, negotiate price and assist with the transaction process. Sellers are using agents more too. The Profile found that FSBOs accounted for only 10% of sales – and only 6% when you factor in sales between friends/family.

Graph from AGBeat.com

The Wall Street Journal reports that Internet home value services like on Zillow and Trulia can be 20% to 50% higher or lower than eventual sales prices. And since these online services have gained in popularity, consumers have used the estimates as factual basis for accepting offers, refinancing and remodeling decisions. Which hasn’t always worked in their favor.

The sites make estimates based on algorithms and collected data, but as WSJ contributor Alyssa Abkowitz reports, that doesn’t ensure accuracy:

“Appraisers and real-estate consultants say the online models can veer off target with alarming frequency. Most data for the models come from two sources: records from tax assessors and listing data for recent sales. Collection is a challenge, however, because not every county tracks properties the same way—some calculate home size by number of bedrooms, others by overall square footage. And automated models aren’t designed to account for the unique construction details that often make or break a deal, or for intangible factors like a neighborhood’s gentrification.”

Read the full article here.

HomesAndLand.com also has a home valuation tool, which advises consumers that it is not an actual appraisal and states: “Determining the most accurate home prices is best left up to a real estate professional.”

• New countertops – even less expensive granite counters looks slick and glossy in photos and are more likely to get a buyer’s attention.
• Paint the walls and ceiling in a neutral tone that matches the new counter.
• Change old appliances. Nothing says outdated like almond appliances. However, if most of your appliances are relatively new, Fletcher suggests sellers “paint any chips or dings with appliance touch up paint and polish them with liquid automotive wax.”
• Update lighting (especially the ‘standard’ fluorescents) and install new brushed nickel or bronze cabinet hardware

WSJ article

• Everyone needs a positive attitude
• Maintain pricing as much as possible and get back to profitability
• Tell customers what you CAN do
• Train everyone to answer all customer questions
• Be service-ready, not just sales-ready
• Say “Thank You” – sincerely
• Communicate value to customers using social media and email newsletters

“This sales surge is all about YOU, not about your company. It’s about your attitude, your ability to serve, your knowledge, your technology, and your ability to express yourself in a positive, engaging way.”

Jeffrey Gitomer’s full article


Filed under: Interesting Takes Tagged: attitude, customer service, lead generation, marketing, real estate, realtor, referrals, sales ]]> http://thinkhomesandland.com/2011/10/05/examine-your-customer-service-closely/feed/ 0 h0mesandland http://thinkhomesandland.com/2011/09/21/spread-the-word-%e2%80%93-home-sales-up/ http://thinkhomesandland.com/2011/09/21/spread-the-word-%e2%80%93-home-sales-up/#comments Wed, 21 Sep 2011 17:51:39 +0000 Marketing Department http://thinkhomesandland.com/?p=2785 Continue reading →]]> NAR reports that existing home sales rose 7.7% in August to a seasonally adjusted annual rate of 5.03 million – an 18% increase over August 2010.

Lawrence Yun, NAR chief economist, said “favorable affordability conditions and rising rents are underlying motivations” for the increase in sales. Investors were also more active buying foreclosures, accounting for 22% of purchases. First-time homebuyers accounted for 32% of sales.

With Freddie Mac reporting average conventional 30-year fixed mortgage rates at 4.27%, now is a great time to for consumers to buy.

NAR report


Filed under: Interesting Takes Tagged: affordability, consumers, first time homebuyers, home sales, homebuyers, lead generation, market, marketing, mortgage rates, real estate, real estate prices, sales ]]> http://thinkhomesandland.com/2011/09/21/spread-the-word-%e2%80%93-home-sales-up/feed/ 0 h0mesandland http://thinkhomesandland.com/2011/09/13/put-testimonials-to-work-for-you/ http://thinkhomesandland.com/2011/09/13/put-testimonials-to-work-for-you/#comments Tue, 13 Sep 2011 15:17:15 +0000 Marketing Department http://thinkhomesandland.com/?p=2754 Continue reading →]]> If you’re planning a large purchase, chances are you’re going to do all the research you can before committing to buy. With real estate, not only will consumers be researching potential homes, but they’ll be looking at WHO they’re choosing to represent them. Testimonials are a good way to put a prospect’s mind at ease when they choose you for an agent. Michael Russer (aka Mr. Internet) offers suggestions on how to get more testimonials and online reviews from your past clients:

So how can you generate more reviews or client testimonials? Ask them! More than likely people don’t think about writing a review of their experience unless they’re asked. Having a written review or testimonial is great because:
- It gives you a direct quote to add to your website (with their permission, of course).
- It allows them to think through their experience and when friends ask them about it, they’ll already have thought through the answer!

Here are 3 great ways to gather reviews:
1. Ask for reviews in your monthly newsletter or weekly email.
2. Setup a Yelp or Trulia account. Both of these offer mass email options that you can send to your database.
3. Ask for reviews on your Social Media sites. If others see great reviews on your Facebook or Twitter page, this can encourage them to do the same!

Having a testimonial page on your website and reviews on other social media sites can allow potential clients to get a feel for how you deal with clients and the services you offer. It also gives you more credibility and builds that trust that people are looking for in a real estate agent.

blog.onlinedominance.com


Filed under: Interesting Takes Tagged: branding, lead generation, online reviews, real estate, referrals, sales, social media, testimonials, tips, win listings ]]> http://thinkhomesandland.com/2011/09/13/put-testimonials-to-work-for-you/feed/ 0 h0mesandland http://thinkhomesandland.com/2011/08/26/how-influential-is-social-media/ http://thinkhomesandland.com/2011/08/26/how-influential-is-social-media/#comments Fri, 26 Aug 2011 13:56:08 +0000 Marketing Department http://thinkhomesandland.com/?p=2702 ]]> Mashable.com posted an infographic that demonstrates what social media can tell us about our society, our behaviors and interests.

(click for full view)



Filed under: Interesting Takes Tagged: consumers, social media ]]> http://thinkhomesandland.com/2011/08/26/how-influential-is-social-media/feed/ 0 h0mesandland Mashable Social Media Infographic