Prudential Real Estate earned top honors in the latest J.D. Power Home Buyer/Seller Satisfaction Study by scoring highest in three of four categories, first time home buyers, repeat home buyers and first time home sellers.
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J.D. Power’s study of the nation’s largest real estate companies, now in its sixth year, measures customer satisfaction among first-time and repeat homebuyers and sellers.
Overall satisfaction for the first and subsequent home buying experience is measured across four factors: agent/salesperson; real estate office; closing process; and variety of additional services.
For first time and subsequent sellers, J.D. Powers measures five factors – agent/salesperson; real estate office; closing process; marketing; and variety of additional services – to determine overall satisfaction.
J.D. Powers doesn’t total up or average the four scores for each company, but on a maximum 1,000-point scale in each of four categories, here are the satisfaction rankings.
First-Time Home-Buyer Satisfaction Ranking
Prudential Real Estate, 811; RE/MAX 798; Century 21, 797; Coldwell Banker, 792; Keller Williams, 787; category average 797.
Repeat Home-Buyer Satisfaction Ranking
Prudential Real Estate, 829; Century 21, 820; RE/MAX, 819; Coldwell Banker, 811; Keller Williams, 807; category average, 817.
First-Time Home-Seller Satisfaction Ranking
Prudential Real Estate, 809; Keller Williams, 802; RE/MAX, 800; Century 21, 799; Coldwell Banker, 780; category average, 797.
Repeat Home-Seller Satisfaction Ranking
RE/MAX, 819; Century 21, 816; Prudential Real Estate, 809; Coldwell Banker, 785; Keller Williams; category average, 803.
J.D. Power also found:
Overall customer satisfaction with real estate companies is higher among repeat versus first-time customers.
The real estate market has experienced an increase in foreclosure and short sale transactions during the past year.
Customers are more loyal to their real estate company than to their sales agent.
Along with the study’s results, J.D. Power offered the following tips for buyers and sellers:
For buyers or sellers with special circumstances, such as a foreclosure or short sale, ask your real estate agent to explain the implications of these transactions and the responsibilities of the buyer and the seller.
Short sales may take a long time to negotiate; closing costs may be high; and the property may require numerous repairs. Foreclosures could have lien problems and require repairs or upgrades.
Short sales and foreclosed homes aren’t always a bargain.
More and more often, the price is more in line with market value. Repairs can add to the cost.
Finding a home in move-in ready condition might save you money in the long run.
Know all the services your real estate company offers, such as inspections, appraisal, mortgage company recommendations, home insurance and home warranty.
Decide if one-stop shopping for the services is a plus or minus based on your specific transaction.
When you’re shopping for a real estate agent, consider both the company and the agent.
While you should have good rapport with the agent, it’s also important to choose an agency that can provide comprehensive services and has a proven record of success in helping homebuyers and sellers.
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