Ray White’s commitment to delivering the best customer experience has seen the brand become the most recommended in the industry as determined by one of the world’s leading customer experience measurement providers; Customer Monitor.
Customer Monitor’s implementation of the Net Promoter Score (NPS) – which measures a customer’s willingness to recommend a company’s product or services to others – saw Ray White achieve a ‘world class score’ of 78 in 2015. The scores range from -100 to +100 and gauge a customer’s loyalty to the brand.
In an NPS Benchmarking report by Customer Monitor, looking back at 2015, the real estate industry average saw an NPS of -41, while Ray White’s average score for real estate agents in 2015 was 78, well above the industry standard.
Customer Monitor CEO Chris Pescott commented: “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. 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.”
Ray White Joint Chairman Brian White AO commented: “Real estate is an industry which heavily relies on relationships and referrals. Customer experience is at the centre of everything we do at Ray White, and is our top business priority.”
“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.”
“We also use this measurement to reward and recognise our businesses and agents. This gives agents incredible insights into how their customers and communities perceive them.”
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 0-10. Ray White’s NPS of 78 for 2015 has been determined by 12,185 customer surveys – a response rate of over 35 percent (online surveys typically have a response rate of 30 percent).
Brian White commented: “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.”
Over the last three years, Ray White agents have sent out over 90,000 surveys across Australia and New Zealand with a response rate of over 30,000.
Chris Pescott commented: “To date, we have recorded 25,000 promoters for Ray White, people scoring agents between 9 and 10. When we look at that as a percentage it is 82 percent of survey respondents.”
And, by the end of 2016 Ray White aims to achieve an even higher score of excellence.
You can see Customer Monitor’s case study of Ray White here.
Ray White Group
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About Ray White
Ray White is a household name in Australasia, a name synonymous with the property and real estate industry. Established in 1902, in the small Queensland country town of Crows Nest, Ray White has evolved into Australasia’s most successful real estate business, with over 1,000 individual offices across Australia, New Zealand, Indonesia, India, Malaysia, Papua New Guinea, China, the Middle East and Atlanta USA. Last year, Ray White sold over $40 billion worth of property.
Ray White today is still a family owned and led business, now spanning residential, commercial and rural property as well as hotels, marine, property management and property funds investment.
About Customer Monitor
Customer Monitor is a leading Customer Experience Measurement service, which manages customer retention, customer voice, loyalty, word of mouth marketing and social promotion. Our best of breed software leverages the latest customer research methodologies, allowing you to not only uncover customer insights, but ultimately grow your business. Customer Monitor is a service delivered by award-winning research company Perceptive Research which is a full-service market research company, with clients in the Australian and New Zealand markets. A highly respected research company founded in 2005, Perceptive Research now services more than 300 clients including Xero, Burger King, Trade Me, 2degrees, Samsung and Coles.