Responsiveness Drives Differentiation
Are your prospective clients having to act like abalone divers to interact with you? Abalone divers furbish themselves with an abalone iron to pry off abalones from submerged rocks. These divers are committed to their task, as abalone is considered a divine delicacy to some. But if prospective clients have to work like an abalone diver to communicate with and engage you, chances are they’ll dive elsewhere.
Concierge service is not a new topic, it still resonates. Let’s assume you have a robust lead acquisition strategy that runs the gamut from SEO, SEM, social media, targeted print ads, etc. Let’s assume too that this strategy yields a healthy inbound inquiry pipeline. Let’s also assume that–if you’re a brokerage–you have a decent eCommerce, relocation, and/or Internet lead management team that responds in a timely manner to these inquiries whether they’ve come in by email, telephone, or live chat. Finally, let’s assume that as an agent you get lead inquiries directly (from your blog, website, broker, etc) and/or leads are routed to you via a relocation or lead management team. What’s the average response time to these direct-to-agent or eCommerce-to-agent leads? If it’s over 15 minutes, I posit that is too long (for eCommerce-to-agent leads, I say response time should be under 5 minutes).
According to the 2008 NAR Profile of Home Buyers and Sellers:
- 21% of home buyers say reputation is an important factor when choosing an agent, which is the second most important factor out of eight factors polled, the number one factor (at 29%) is agent honesty and trustworthiness
- 93% of home buyers rate responsiveness as “very important” when considering agent skills
- 84% of home buyers rate communication skills as “very important” when considering agents skills
- 67% of all buyers interview only one agent in their search process
Do prospective clients visit the following types of sites more often than real estate websites: BassPro.com, Cabelas.com, Zappos.com, Craigslist.com, Geico.com? I’ll posit that your prospective clients are visiting these types of sites more often than any one real estate site. Thus, their customer service–their concierge service–expectations are being set by these entities. Where does your service level measure up related to these companies?
Put yourself in the shoes of a consumer who goes to BassPro.com and contacts their customer support staff and gets a response within one minute or less (especially if he/she used live chat). Would you say this consumer has a higher likelihood of being satisfied and that BassPro likely created a good vibe for its brand in the mind of that consumer? I’d say yes. Now what would happen if that consumer had to wait for 48 or 72 hours for a response to his/her question that common sense tells him/her should take only a couple of minutes? I’d say a bad vibe is created. Granted, if the customer is committed enough, he/she may try to pry a response out of BassPro by recontacting them. But the more he/she has to try and pry the customer service abalone shell off the rock, the less likely this customer will remain with BassPro. And if prospective clients have to pry a response out of you, the less likely they are to engage with you.
Prospective clients expect responsiveness. And their expectation for this responsiveness is being set OUTSIDE the real estate industry. Thus, it’s incumbent upon real estate professionals to step up to the client concierge service plate and respond as quickly as possible to inbound lead inquiries.
Where do you want your trustworthiness and reputation factors to be slotted in a prospective client’s mind: as uncaring and lazy because you don’t typically respond in a timely manner, or that you’re concerned about prospective clients’ needs and desires? Thus, meet 93% of home buyers’ expectations and set a standard to respond to inquiries in a timely manner. If 84% of home buyers consider communication skills as very important, how are you demonstrating your communication skills–as ignoring a prospective client’s requests, or by addressing him/her with alacrity and professionalism?
Don’t make prospective clients pry a response out of you. Remember that 67% of prospective clients contact and interview only one agent during their search process. Increase your odds of gaining a client’s trust and business by quickly responding to their inquiries.