Declining customer satisfaction a threat to repeat business

J.D. Power survey shows managing buyers', sellers' expectations is key

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With customer satisfaction among buyers and sellers alike slipping, real estate brokerages that want to win repeat business must keep their clients better informed, educating them on comparable sales information and following up with them after closings, J.D. Power and Associates said in releasing the results of its 2012 Home Buyer/Seller Satisfaction Study.

The study found homebuyer satisfaction — determined by consumer ratings of the agent or salesperson they worked with, their brokerage office, and the variety of additional services offered — at an all-time low. At 789 on a 1,000-point scale, overall satisfaction among homebuyers was down from 797 in 2011 to a new low in the five-year history of the survey.