In an era where there is more competition in estate agency than ever before – with online only offerings, freelance agents, and of course other similar companies, measuring your success can go far beyond simple monetary considerations.
Future proofing your estate agency relies on having a good reputation in the areas you serve.
Therefore, it’s vital that you understand how your vendors, buyers, tenants and landlords feel throughout the process of dealing with your teams, and don’t just find out about issues when it’s too late.
Net Promoter Score (NPS) helps you to improve your estate agency offering, effectively allowing you to judge which parts of your service may need some fine tuning, areas staff may require training and what ultimately makes your customers happy.
Why use Net Promoter Score?
Net Promoter Score is a simple survey containing one question, and a way of getting to the heart of how you customers feel about your business.
Respondents give a rating between 0 (not at all likely) and 10 (extremely likely) and, depending on their response, fall into one of 3 categories to establish an NPS score:
· Promoters respond with a score of 9 or 10 and are typically loyal customers who will help to promote your business
· Passives respond with a score of 7 or 8. They are satisfied with your service but not happy enough to be considered promoters
· Those who respond with a score of 0 to 6 are considered detractors. These are unhappy customers who are unlikely to use your services again and may even discourage others from doing so
A measure for all
As an estate agency leader, you will know that it’s the efforts of the team who contribute to the success of your business.
It’s often the case that the negotiators are the ‘stars’ as their value is so intrinsically linked to income. However, by using NPS you can start to clearly see which team members really add value to the reputation and perception of your business.
Net Promoter Score can be used across all the services that you offer, from perceptions of those who have a valuation to how a customer feels. All whilst the sale is progressing. This allows you to clearly pinpoint what parts of your estate agency offering give true value to your customers.
Consistent monitoring allows you look objectively at your process
Measuring how your customers view your business should not just take place at the end of a sale.
By using NPS at regular intervals throughout the stages of a sale or purchase, you can ensure that your offering is agile, and solve issues where a customer may start to feel unhappy and turn them from detractors to promoters.
Know Your Market offer a full NPS tracking service which allows you to have a consistent overview of how your business is performing against your most valuable KPIs – how your customers feel.
We undertake regular surveying and provide you with a dashboard, allowing you to quickly identify issues.
This allows you to have a full understanding of where you can improve your estate agency offering.
