Jawdat Al Kateb
Coreo Real Estate
“Customer is King” is an age-old business mantra accentuating the importance of customers (and would-be customers) in every business. Traditionally, this rule usually entails a company’s promise to provide good customer services to… well, the customers. But with the current evolution in work and business settings coupled with technological advancement, what does that really mean?
Getting with the times
You can no longer rely on product and price alone to win your customer’s loyalty. Times have changed, and so have customer expectations. Customer service and experience is now the key brand differentiator that success hinges on.
According to research, 1 in 3 customers will leave a brand after just one bad experience. Not investing in a world-class service will be fatal. At every touchpoint, you must implement, refine, and deliver experiences that delight your customers and win their loyalty.
Exceeding customer expectations is what will provide a competitive edge in 2022 – increasing satisfaction, retention and revenue will be the bedrock of sustainable, long-term success.
Understanding your stakeholders
The real estate market has four key stakeholders in a rental or purchase transaction: the tenant, the landlord, the seller and the buyer.
- For many tenants, renting can be an exhausting and overwhelming process. Finding a real estate agent that understands their needs and acts on them is an important part of this process. That is where an agent could really set themselves apart from the rest.
- As an agent for the renter or landlord, you must always think about maximising your client’s assets and increasing their profitability, all while meeting market trends and tenants’ demands.
- When it comes to buyers, one should remember that they are not just buying a property, but they are also, in turn, buying the experience and knowledge that one brings as an agent in the real estate market.
- Finally, sellers are looking for the best offers they can get in the industry while also keeping their workload to a minimum. It is important as a seller’s agent to make sure that the buyers understand the value of the seller’s assets.
Common challenges faced by clients
Here are some key issues faced by clients and how you can tackle them smoothly:
- Unavailable properties: Several agencies list properties that have already been rented or sold on their website and portals to attract and generate leads while also providing a fake insight on the market’s unavailability. This can lead to the customer being disappointed when they enquire about a property and learn that it is not available. Instead, make sure all the properties listed on your website are up-to-date and use them to generate quality leads.
- Misleading pictures and information: Another easy way to lose clients is by having misleading images or incomplete information on your listing. Sometimes, a photo of an apartment may not show the apartment that is available but instead a similar apartment. This can be incredibly misleading. It is imperative that all your listing records are regularly updated with information such as increases in prices.
- Follow-ups: It can be quite frustrating for a client to wait on an agent to follow up with them or call them back, especially if they are in a hurry to complete the transaction. At the same time, an agent must remember that while he may have multiple clients, every client wants an exclusive experience.
- Overselling: While every agent wants to give their client the best experience they have during the course of a transaction, one should never sell more than they can deliver.
- Overcharging: An agent’s fees must always correspond with what is stipulated by Qatari real estate law.
- Lack of professional etiquette: It can be difficult to juggle several clients at once, but an agent should always be on top of their schedule and be on time to their appointments with clients.
- Unethical sales techniques: providing incorrect market information, creating a false sense of urgency and pressuring a client to make a transaction is not just wrong, but severely unethical. Additionally, assets must always be accurately valued before a transaction and an offer should not be pushed on a landlord or a seller.
The bottom line is as an agent, is to enhance transparency to the best of your ability and protect the rights of all parties involved.
Market leaders always stay close to their customers, identifying unique opportunities to create competitive advantages. It’s the real estate agency’s responsibility to set the customer experience journey and that is what will keep customers coming back.
At Coreo, we pride ourselves on quality customer experience and satisfaction journey, attested to by being awarded the Best Quality Brokerage for the Year 2021 by Property Finder and look forward to being a part of your real estate journey.
This article was published as part of the seventh edition of Property Finder Qatar’s Trends Report.