The real estate industry has been slow to breakaway from an old paradigm – placing too much emphasis on quantity – says Larry Romito, president and CEO for Quality Service Certification Inc. "It's kind of like where the automobile business was in the 1970s. Quality was something that was talked about but they never did anything about," according to Romito. The real estate industry has been "very focused on sales and production" while lacking adequate standards, metrics and processes for service, he added. The industry may be quick to applaud its top-producing agents, for example, who amass the largest number of property sales or gobble up mass quantities of commission revenue, though Romito said he expects quality service to be an increasingly important factor in the marketplace. Other industry observers have said that the long-running national housing boom may cover up imperfections in service, while service and marketing can play a bigger role as the market slows. QSC f...
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