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Risk management
Keeping Risks Under Control



 

Three Lines of Defense Against Risk

Keeping Risks Under Control

Controlling Transaction Risks

Agency Disclosure

Avoiding Antitrust Risks

Minimizing Liability from Contracts

Fair Housing Risks

Controlling Personnel Risks

Communications Policies to Minimize Risks

Insuring Against Risks

More Resources: Controlling Business Risks

Code of Ethics: Controlling Business Risks
  Service Standard Tips From Top Brokers

Dick DeWolfe, president and CEO of DeWolfe in Lexington, Mass.
Concentrate on setting procedures for the completeness of listing materials, the prompt submission of the listing to the MLS with a correct identification of the nature of the agency relationship, and the timely presentation of offers and counteroffers.

Work to instill the idea of treating the customer with honesty, integrity, and fairness. Even if the salespeople don’t remember all the service standards, these three words will go a long way to ensuring good service.

Watch for recurring service problems that appear in customer surveys. Then work with your legal and training staffs to give associates more education in these areas.

Jenny Pruitt, president and CEO of Jenny Pruitt & Associates in Atlanta
Call any customers with problems personally and resolve the issue. Even if I don’t believe that our associate was at fault, I send a gift certificate to a negative customer. Remember, unhappy customers will tell an average of 16 people about their dissatisfaction.

Have your sales manager talk with the salesperson about any complaint and then monitor the associate’s activities to ensure improvement. It’s important for salespeople to know that your company can’t maintain its service standards if they don’t do their part.

Chip Roach, vice chairman of Prudential Fox & Roach in Devon, Pa.
Ask quantifiable questions in customer surveys so that you can effectively rate salespeople’s performance. Then create a recognition program to reward good service.

Use the results of customer surveys as a marketing tool. Consumers are becoming much more demanding of quality, and service ratings are a great way to differentiate yourself.

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