Morning Briefing: These four things improve consumer satisfaction with real estate firms

by Steve Randall06 Aug 2015
These four things improve consumer satisfaction with real estate firms
Four key performance measures increase consumer satisfaction in dealing with real estate companies. In its annual homebuyers/sellers satisfaction survey J.D. Power says that when communicating with customers the companies that achieve the highest satisfaction ratings; give timely responses to questions or concerns; keep clients informed at all important contact points; follow-up with clients after the transaction closes; and show sales information for comparable properties.

Overall satisfaction is measured across four factors of the home-buying experience: agent/salesperson; real estate office; closing process; and variety of additional services. The survey is carried out among first-time buyers and sellers and repeat buyers and sellers.
Century 21 topped all four client-types with Re/Max and Coldwell Banker also scoring highly.
Mortgage applications increase
There was an increase in mortgage applications last week (to July 31) according to the Mortgage Bankers’ Association. Its weekly survey of mortgage applications showed a 4.7 per cent rise week-over-week. "Despite recent concerns about the economy, both purchase and refinance applications increased strongly in response to lower interest rates last week," said Lynn Fisher, MBA's Vice President of Research and Economics. "Refinance activity was the highest since May when rates were last at this level. The increase in purchase activity was also notable for this time of year, up 23 per cent relative to a year ago."

On an unadjusted basis, the Market Composite Index increased 5 per cent compared with the previous week. The Refinance Index increased 6 per cent; the seasonally adjusted Purchase Index increased 3 per cent; the unadjusted Purchase Index increased 3 per cent.
Michael Moore selling Michigan home
Controversial filmmaker Michael Moore is selling his lakeside home in Michigan. The New York Post reports that Moore is asking $5.2 million for the Torch Lake home with seven bedrooms, library, artist’s studio and mud room; there is a separate guest house and 3.5 acres of land. The listing agent is Nancy Albrecht.


Should CFPB have more supervision over credit agencies?