Pacific Union’s Response to J.D. Power Survey – Proud to be PU!
According to a recent survey by respected research firm J.D. Power and Associates, first time homebuyers and sellers are more influenced by a real estate firms reputation and financial standing than by referrals and recommendations by family and friends. Among repeat customers – a higher level of satisfaction was also shown. Specifically, satisfaction levels among repeat homebuyers and sellers were measured at 817 and 803 – in that order – on a scale to 1,000 points. The average satisfaction-level number for both first-time buyers and sellers is 797.
35+ percent of first-time homebuyers and 27+ percent of first-time sellers disclosed that their choice in selecting a real estate firm was based primarily on the goodwill and reputation of the company. Meanwhile, 28 percent of first-time homebuyers and 27 percent of first-time sellers made their choice because of recommendations. Not a huge difference – but certainly statistically significant and worth reporting. For new agents or top producers in San Francisco looking to hang their license – this information is valuable – especially as discount brokerages like Redfin saturate the Bay Area marketplace. It is good to know that PU’s goodwill is still stronger than ever.
The most interesting aspect of the survey is this: “Customer loyalty is first to the company and second to the agent,” said J.D. Power spokeswoman Christina Cooley. “Interestingly, less than 20 percent of customers say they ‘definitely will’ switch real estate companies if the sales agent moves to another company…In the end, it is the combination of the company’s standards, processes, and approach to addressing customer needs, combined with outstanding execution by the sales agent, that will truly differentiate the customer experience.”
This survey served to confirm our belief at PU that it is our agent’s neighborhood knowledge, local expertise, and talented agents that generate our brand’s respect from consumers and general goodwill. For this reason, it is important to recognize that numbers are only part of our story. What makes our brand so great is our dedicated real estate professionals and our customers unwavering brand loyalty. Which is why – in San Francisco, everyone wants to work with the top SF real estate team when selling their home in Noe Valley or in any neighborhood.
The fact that PU’s Realtors have an above average sales volume than agents at other firms is no small feat – in fact, it serves to unite our family and bolster support from our clients and their larger sphere of influence. Thus creating our tight knit family and allowing our agents to close more deals with us than they could at any other firm. PU is more than just a real estate firm – we are an institution that we are all extremely proud to represent.