Market Predictions for 2010:
I’ve been asking brokers from around the country how they feel about the real estate market for 2010. It’s not surprising that the answers are as diverse as the marketplace.

It’s Going To Be A Bad Year:
Some are depressed and pessimistic as they are preparing for further downturn with more foreclosures and short sales flooding the market.  They think that the year will be a bad one…and for them, they are probably right.

It’s Going To Be Pretty Much The Same:
Other brokers look at the market for 2010 as pretty much the same as last year.  They see sales remaining tough, but they’ve survived ’09, so they will go through the motions and survive again in ’10 as long as the market cooperates. ..and these brokers are probably right also.

It’s Going To Be Amazing !
There is amazing opportunity for real estate brokers that see the changes that are happening in the industry.  Those that adapt and position themselves as the leaders who meet the needs of the consumer will gain momentum, market share and success.

The real estate industry is in transition.
While we were crying about the bad real estate market that we were enduring, others were creating new ways to attract more consumers to their firms.  The Internet has changed the way consumers want to buy and sell things, not only in real estate, but in everything that we do.

The consumer’s level of expectation from us has changed dramatically.  We can buy almost anything online and receive an amazing level of satisfaction.  Technology has really made the great companies thrive in this market. If you’re not committed to great service and value, the best technology in the world won’t help you, but if you’re good…you have a chance to parlay your value through webites, blogs, social media and good customer service strategies.

Companies have risen from nowhere, like the famous shoe retailer Zappos that are brilliant in providing the consumer what they wanted in the way that they wanted it.  We need to be brilliant right now in real estate brokerage.

The need for speed:
The consumer used to be satisfied with fast service, but now they are not.  They want it NOW, as instant gratification has become the norm for most industries.   We need to embrace technologies like mobile platforms and great systems for responding to the consumer in record times.  We need to exceed the customer’s instant expectations every day to succeed and gain advantage.

But there’s more:
Not only does the consumer want it immediately, but they also want it for the best price and delivered with the best level of service and customer care.  They will only do business with those who provide the new level of excellence.  We need to pay careful attention to what the consumer wants, or else someone else earns the business away from us.

How do we do it?
How can we provide excellent customer service consistently in this old fashioned real estate industry?  The answer is simple, but of course it’s not easy.  We are doing many things this year that will help us to move forward in our quest to provide excellent customer satisfaction consistently, but I would say that the most important thing that we can begin doing better is to come up with a comprehensive plan to create and measure customer satisfaction.  A plan that contains goals with specific results that you can track with every person on your team.

Fillmore Satisfaction 2010 Initiative

Here are the top 10 things that we will be doing in 2010 to gain market share and become a better company.

Future posts will discuss each of these initiatives in more detail.
SATISFACT10N- 2010
1) Understand the Customer Satisfaction Mission:  Make sure that your company understands and is committed to your mission of providing excellent service on a consistent basis.

2) Get Buy In:  The receptionist that answers the phone to the agents, managers and upper management must all be willing to accept nothing less than excellence from each other.  It’s a team effort, and each player counts.

3) Measure Effectiveness:  Through surveys, customer calls and internet feedback forms, create a way to measure how well your firm is doing with regards to customer satisfaction.  Measure each agent and come up with a Satisfaction Rating system based on speed of response and overall customer experience.

4) Reward Excellence:  Create a program that recognizes and rewards those who excel in providing excellent service.  We give more leads to those agents who have a better satisfaction rating and offer contests that recognize excellence throughout the company.

5) Promote Your Brands Success:  When you’re able; use your customer’s satisfaction and your consistent delivery of quality service as your huge differentiator in the market.  You will be offering just what the consumer wants, in the manner that they want it.
6) Go Mobile: Create a mobile application that will allow the consumer instant gratification.  It’s got to be simple and easy to use, and provide value to the consumer.

7) Engage in the Conversation:  Make sure that you’re team understands that every conversation off line and online presents itself with an opportunity to assist the consumer.  We need to make sure that we’re answering the consumer’s questions and continuing the conversation.
Give them What They Want Online:  In addition to providing an amazing experience offline, we need to make every process online easy, simple and efficient.  Keep them coming to your site to get what they want.

9) Connect Both Worlds: When the consumer comes to your company via phone from the internet, we need to connect with them and make sure that they get to an agent immediately.  We offer an instant transfer to a live agent.  Many times the consumer is shocked and most appreciative of this effort, because in their previous experiences, other brokers have under-performed and not responded promptly.

10) Raise the Bar: Be a part of the transition of the real estate industry as it moves from mom and pop style companies to more professional corporate entities, where brand and reputation are the driving force to success.  Brokers across the country will embrace the change and make sure that they are providing excellent consumer services consistently.  After all, if we don’t provide what the consumer wants, someone else will.  The real estate brokerage industry needs to pull it together before outside companies come in and leads the consumer away from where they belong…right here with the trusted local neighborhood experts…the local real estate broker.

Happy New Year, and watch for future posts that will explain Fillmore’s mission as it is implemented throughout 2010.