J.D. Power Rates the Century 21® System Highest in Customer Satisfaction

J.D. Power has just released their 2015 Home Buyer/Seller Satisfaction Study, which rates the major real estate brokerages in terms of customer satisfaction across four segments and several factors. For the second consecutive year, the Century 21® System has taken home the #1 spot in the survey, earning top scores in each of the four customer segments!

The four segments examined in the study include first-time buyers, repeat buyers, first-time sellers, and repeat sellers. The satisfaction level of each segment was measured on a 1000-point scale. Four factors of the home-buying experience contributed to the buyer satisfaction scores, these being agent/salesperson; real estate office; closing process; and variety of additional services. In the home-selling experience, the same four factors were evaluated along with a fifth factor, marketing.

The Century 21® System managed to earn the top score by a wide margin in each of the four segments for the second consecutive year, translating to a 5-star rating. Coldwell Bankers placed second in the repeat home buyers and repeat/first-time home seller segments, while RE/MAX took second place in the first-time home buyer segment. Other companies examined included Keller Williams and Berkshire Hathaway HomeServices (formerly Prudential Real Estate). No other company received higher than a 3-star rating in a customer segment.

Communication appeared to play the most critical role in overall customer satisfaction. Four important aspects of communication were examined: receiving a timely response to questions and concerns; being informed at all important contact points; receiving follow-up communications after the close of the home; and being shown sales information for comparable properties. Satisfaction scores were substantially higher in all customer segments when these aspects were adequately met vs. when they were not.

For instance, J.D. Power reports that, among first-time buyers and sellers, satisfaction was 125 points higher among buyers and 107 points higher among sellers when they were kept informed by their brokerage during the sale process. Similarly, satisfaction was 130 points higher among repeat buyers and 217 points higher among repeat sellers when they received a timely response to questions and concerns compared to when they did not.

Christina Cooley, director in the diversified services industries practice at J.D. Power, echoes these findings, saying, “Knowing how and when to communicate with customers is essential for real estate companies. To satisfy first-time customers, it is really about holding their hand by keeping them informed at key points throughout the purchase or selling process to ease their anxiety. For repeat customers, satisfaction hinges more on the timeliness of the response by their real estate agent when questions or concerns arise with the process."

Find the full report here: CENTURY 21 Ranks Highest in Customer Satisfaction across All Home Buyer/Seller Segments for a Second Consecutive Year