Why real estate agents should love negative feedback

There are at least 2 important values you get from negative feedback.

1. Complaints can help improve your business. How to communicate better, how to set expectations, how to provide better service, etc. You can tailor your service to what people really expect. 
2. Negative feedback is often a hand raised for help. It is an opportunity to turn people around, make them happy, or right a wrong. Only if you ask for feedback will you receive it and be able to act on it.

I've met a lot of business owners who turn sour at the thought of receiving negative feedback or complaints. Many real estate agents go to great lengths to ignore complainers or cringe at the thought of asking for feedback. I often hear the excuse that "the best real estate agents are not necessarily the most liked." I have a very tough time accepting that argument. We're living in the world of Yelp. Reviews propagate with amazing speed.

You've gotta think about your customers in either of 2 camps, Promoters or Detractors.

• Promoters = will recommend you to others
• Detractors = will tell others to not use you

There's one important lesson I learned in the last 15 years running businesses. Customers who complain care. If a customer who complains doesn't get an adequate reply and you notice the complaining stops, you can be sure you've lost at least one customer for good.

The problem in the real estate business is that transactions rarely happen with the same person more than once every few years so it's very easy to overlook the value of collecting real honest feedback. What we need to remember is that past customers are likely to be asked by friends whether they'd recommend you. You've gotta make sure the answer is always "YES."

If you're like me and you'd love to get a steady stream of new business at low cost (where new customers come to you) you need to grow your Promoter population. To do this:

1. Always ask for feedback from your clients. You may get really great endorsements too.
2. Make sure the way you ask for feedback is non-threatening and does not bias the answer. If you ask for feedback in person or on the phone - people will tell you what you want to hear, not the truth.
3. If someone complains and would like a response be sure to promptly give them a response. If you're wrong, admit you're wrong and make it right. If you're not wrong, explain why. Be professional and courteous always.

The more Promoters you have the easier it will be to grow your business. Start collecting feedback today!

If you'd like an effortless way to collect feedback and reviews from past clients just email (suresh@reachfactor.com) or leave a comment. I'd be happy to get you access to our survey tool for free.