The Impact of Customer Experience on the Real Estate Industry - Real Estate Customer Experience (CX)

Buying a property, new house or office space is not an impulsive decision. It involves months of research and planning before clients reach a decision and are ready to make a commitment. While a client is trying to reach a decision, the kind of service and experience you offer them becomes a key factor that helps them decide.

In an era where every key player in the real estate market offers world-class living spaces and modern amenities, customer satisfaction has reached an entirely different dimension. To ensure you have the edge over your competitors, it is necessary to understand your client’s history, attitude, motivation, and behavioural patterns and enhance your services to anticipate their needs and offer them a personalised experience.

Do you want to learn about improving customer experience? Well, read on to find out more!

What is Customer Experience?

Customer Experience is greatly associated with ‘customer loyalty’. Oracle India defines ‘customer loyalty’ as the ‘ongoing emotional relationship between you and your customer’. It is essentially a measure of a customer’s willingness to engage and repeatedly conduct business with a specific company/brand. If you offer customers a positive experience, they will trust you, and you can be assured of their loyalty.

How Has Customer Experience Become a Key Differentiator in the Real Estate Market?

Offering exceptional living spaces and great amenities is not enough for clients to favour a real estate company. Instead, companies must look beyond how clients’ expectations can be met and understand how to provide meaningful interactions and customer-centric experiences.

Buying a property or office space is often an emotional experience. Hence, real estate companies need to move beyond mere customer service and connect with their clients on a personal level. Customer experience becomes a critical factor if you want to differentiate yourself from your competitors.

To put it simply, customer experience is an impression clients have of a brand when they engage with the brand or its products in their journey as a buyer of that brand. Customer experience is not simply customer service; instead, it is an umbrella term under which customer service falls.

While investing in the latest technologies and marketing campaigns is necessary for a real estate company, focusing on the client and offering an exceptional customer experience has proven to be an extremely powerful and effective way to boost sales.

One way to encourage customer loyalty is to build a real estate business based on a customer-centric model. Customer centricity is not about offering good customer service but around making the journey memorable for the clients. It may be the clients’ first apartment, house, or office, so you can create a long-lasting impact and ensure their loyalty to your company or brand by offering them a personalised, hassle-free journey from the purchase and construction phases to the move-in phase.

The critical factor for building a strong customer base is to collect information about your clients. From the very first interaction, you need to understand their background, personality, preferences, dislikes, attitude, motivation, and behaviour and use this data to anticipate their needs and design your services based on those needs. Most real estate businesses fail to draw customers and maintain customer satisfaction due to the inability to understand and relate to the clients and their needs.

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How Do You Elevate Customer Experience?

While we agree that collecting data about your clients and using it to enhance their experience is key to a satisfactory customer experience, we should not forget that customers are not mere data. Providing a positive customer experience cannot be viewed as a task to tick off on a checklist.

Use Personal Touch to Enhance Customer Experience

According to Melinda Meskula, identifying the most sensitive aspects that affect customers gives you the perfect opportunity to be different and make a long-lasting impact. Put yourself in the client’s shoes and understand what makes them feel helpless, neglected, and frustrated during their interactions with realtors, so much so that they question the real estate brand’s credibility and start looking around for alternatives.

Use the data you have collected from your interactions with clients to engage and nurture a business relationship with them by maintaining a personal touch during every meeting and interaction. For example, you can send your clients a personalised gift pack tailored to their needs when they book an apartment. After they have moved into their apartment, you can compile a list of supermarkets, furniture stores, shopping centres, food delivery services, or gyms around their community and even gift them a few coupons or vouchers that can be redeemed at these stores. These small but significant steps will make your clients feel that they are appreciated and cared for and will go a long way in promoting your residential and commercial projects.

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Use Communication to Enhance Customer Experience

You need to focus on communicating with your clients the right way. Buying a property is a tedious and time-consuming process, as many projects take months or maybe even years to be completed. So, communication is important to give your clients regular updates, especially during the construction phase.

Effective and empathetic communication is necessary to listen to your customers’ complaints, answer their queries, and alleviate their anxieties. You can prepare manuals or brochures on the project, presentations, and FAQs to help your customers understand the phases of construction, visualise the completed construction, and learn about the various amenities and facilities that the project will offer. It also helps to ensure that your website and mobile app are user-friendly and regularly updated.

Conclusion

The adage, Customer Knows Best, continues to stand true. The success of a real estate brand entirely depends on how its clients are treated and the relationship the brand fosters with them. If you want more information on branding, customer service, customer relationship, or building a real estate brand, visit the Adani Realty platform to learn more from our experts.