In the era of competition where there is always an alternative, customer service is the key to your long-term business success. In the real estate industry, customer service plays a major role in differentiating one real estate investor from the other.
However, there is still one big question for many and that is; why is customer service so important in the real estate industry? In this post, we will present a few points about what why customer service plays an important role in a real estate firm’s success.
According to a Business Insider survey, nearly 60 percent of U.S. customers did not invest in real estate due to their customer service experience. In general, poor customer service is the cause of many U.S. retailers experiencing a loss of nearly $83 billion in sales. Let’s take a look at five ways any real estate firm can improve their customer service and propel their business to the top.
Most will agree with the fact that trust requires years to build but it only takes few minutes to crash. For a real estate investor, trust is a vital factor in building long-term customers. In simple terms, a new investor will only be your customer once you build trust and make an attempt to deliver the most reliable services to your clients.
Build A Strong Reputation
The actions a company takes directly puts an impact on brand recognition. Poor client service will always build a bad reputation and hence will decrease the amount of customers your business will get. Whereas the more you focus on customer service, the better your reputation will be in the real estate industry. Any customer who has a negative home buying experience, will always deliver negative feedback and will not provide your firm with any referral business.
Would you rather be known for your excellent customer service or for the lack thereof? This really matters to most people, which is why you do not want to be on the wrong side when it comes to this or you will find that your brand will not build a strong reputation.
Distinguish Your Services in Competition
The high-value question in real estate is what makes you the best of all real investors available in the industry? Since many people have decided not to invest in real estate due to poor customer service, any new real estate firm has a distinct advantage to steal the market through building a strong, customer-focused reputation.
The customer service experienced by your clients will make a huge difference in distinguishing your services from others and make you stand out from the competition.
One of the hallmarks of a successful business is knowing and meeting customer needs past the point of sale to build a lasting and mutually beneficial relationship. Technology tools are one way to accomplish this. Another vital part of staying focused on the customer is ensuring that all areas of the business are nailed down. Partnering with experienced business lawyers is the best way to fulfill your company’s legal needs without detracting from your customers.
Make Customers Your Referrer
When it comes to your services, you need to either undergo traditional marketing tactics or run an online campaign. However, when you start to provide the best customer experience to your customers, they will automatically make your services viral via referral marketing which will be the best reward you could possibly receive.
Build Long-Term Customer Loyalty
A company that serves a first-time customer well, builds trust and often receives repeat business from the same customer which is often a good indicator that customer loyalty towards has been built. The customer service you give to your clients will always be the major reason for customer retention.
No matter the industry, customer service is one of the number one factors in building a trusting and loyal customer base. This will allow you to enhance and grow your real estate business in the long-term with the initial investment only being strong customer service; an investment that will bring a high ROI for years to come.