Leading customer experience measurement providers Customer Monitor implemented the Net Promoter Score (NPS) – which measures a customer’s willingness to recommend a company’s product or services to others – to find that Ray White achieved a ‘world class score’ of 78 in 2015.
The scores range from -100 to +100 and gauge customer loyalty to a brand.
According to an NPS Benchmarking report by Customer Monitor, the real estate industry saw an average NPS of -41 for 2015, putting Ray White’s score of 78 well above the industry standard.
“The sheer number of promoters that Ray White has accumulated, coupled with the huge number of offices that have embraced the program and the incredible NPS score that the entire network has achieved, is world class,” Customer Monitor CEO Chris Pescott said.
“A world class score is considered anything above 50, and Ray White have maintained a score in the high 70s and low 80s for over two years consistently,” he added.
Ray White joint chairman Brian White AO said real estate is an industry that relies heavily on relationships and referrals.
“Customer experience is at the centre of everything we do at Ray White, and is our top business priority,” Mr White said.
“As the real estate network with the largest market share in Australia, we also want to be the leader in customer excellence. We use the NPS rating system to determine our performance across each business unit, and we are excelling against the industry benchmark for real estate agents, something we are extremely proud of.”
Mr White said the network also uses the NPS measurement to reward and recognise its businesses and agents.
“This gives agents incredible insights into how their customers and communities perceive them,” he said.
Agents ask their customers to answer an email survey based on how likely the customer would be to recommend their real estate agent to friends or family members. Customers can rate an agent between zero and 10.
Ray White’s NPS of 78 was determined by 12,185 customer surveys – a response rate of over 35 percent.
“As a group, we can be confident the data we have collected that is representative of our customer sentiment, with enough survey responses to trust our Net Promoter Score, is truly indicative of the service we deliver,” Mr White said.