Tag Archives: real estate broker

Prudential Leads JD Power Servey

Prudential Real Estate, an HSF Affiliates LLC company, and Prudential PenFed Realty announced that the Prudential Real Estate affiliate network ranked highest for customer satisfaction in three of the four segments included in J.D. Power and Associates’ annual Home Buyer/Seller Satisfaction Study. The network scored highest in Repeat Home Buyer, First-Time Home Buyer, and First-Time Home Seller categories. It ranked third in the Repeat Home Seller segment.

The sixth annual study measures customer satisfaction among the nation’s largest real estate brokerage companies. Overall satisfaction is gauged across four factors of the home-buying experience: agent/salesperson, real estate office, closing process, and variety of additional services. Seller satisfaction is evaluated through the same four factors plus marketing.

Among repeat home buyers, Prudential Real Estate scored 829 on a 1,000-point scale, performing particularly well in agent/sales person, variety of additional services and closing process. The network tallied 811 points among first-time home buyers, showing strength in all factors. Prudential Real Estate scored 809 points in the First-Time Home-Seller segment, drawing strong marks for marketing and closing process. This represents the third time in six years Prudential Real Estate ranked highest in seller satisfaction including recognition in 2008 and 2010.

“Prudential Real Estate stands for quality and consistency in neighborhoods across America,” said Earl Lee, network president and CEO of HSF Affiliates LLC. “Buyers and sellers alike appreciate our affiliates’ market leadership and our agents’ skill and innovation.”

Lee added that the Prudential Real Estate network enjoys one of the industry’s highest average selling prices and that its agents stand out as local-market experts. “Affiliate to affiliate, Prudential Real Estate sales professionals have a strong work ethic and drive for client satisfaction. These prestigious awards further underscore our agents’ success and the quality of our network.”

The team at Prudential PenFed Realty works hard to exceed the expectations buyers and sellers alike, explained Maxine McLeod Miller, manager of the Prudential PenFed REALTY office in Alexandria.  “In today’s market, our clients require all the expertise and service we can offer. Through our knowledge, innovation and guidance we maximize the home-buyer/home-seller experience to ensure our clients’ needs are met.”

Among other survey findings:

  • First-time home buyers and sellers are most influenced by a company’s good reputation and the recommendations they receive from friends, family and colleagues.
  • More than one-third (35%) of first-time home buyers and 27% of first-time sellers indicate they selected their real estate company based on its reputation.
  • 28% of first-time home buyers and 27% of first-time sellers selected their company based on recommendations.
  • Overall satisfaction with real estate companies is higher among repeat customers compared to first-time buyers or sellers.
  • Suggesting better times in residential real estate, the percentage of first-time home sellers increased to 44% in 2013 from 30% in 2012.
  • The percentage of first-time home buyers also increased significantly, 49% in 2013 vs. 40% a year ago.

The 2013 Home Buyer/Seller Study includes 4,371 evaluations from 3,930 respondents who bought or sold a home between March 2012 and April 2013.

About Prudential Real Estate and HSF Affiliates LLC

Prudential Real Estate is a part of the HSF Affiliates LLC real estate brokerage family, which includes Real Living Real Estate and the new Berkshire Hathaway HomeServices brand available later in 2013. Prudential Real Estate franchisees are independently owned and operated.

HSF Affiliates LLC, based in Irvine, Calif., is a joint venture of HomeServices of America and Brookfield Asset Management.

Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities and are used under license with no other affiliation with Prudential.

About Prudential PenFed Realty

 Prudential PenFed Realty, wholly owned by PenFed (Pentagon Federal Credit Union), is a full-service real estate company with an annual sales volume over $1.7 billion; serving PenFed members as well as the general public. Recognized as a leading real estate company in its service area, it is ranked among the top Prudential affiliates nationwide. Over 1,700 top-notch sales professionals work out of Prudential PenFed Realty’s 49 offices to provide complete real estate services nationwide.

Prudential PenFed Realty is an affiliate of the Brookfield/Home Service Franchise (Formerly Prudential Real Estate) Residential Property Services network. Its franchises are independently owned and operated. The network provides franchises with numerous benefits, including access to Prudential Real Estate’s Online Seller Advantage® program designed to provide real-time information to sellers in an easy to use system; and Online Buyer Advantage®, enabling consumers to easily search for property in all 50 states and the District of Columbia. Prudential Real Estate is one of the largest real estate brokerage franchise networks in North America, with more than 1,500 franchise offices and 50,000 sales professionals in the franchise Network as of December 31, 2011.

 About J.D. Power & Associates

Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit jdpower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.

J.D. Power Results Are In: Customers Most Satisfied with Prudential

Prudential Real Estate tops J.D. Power’s lists again, ranking #1 in three out of four categories:

  • First-time home buyer satisfaction rankings
  • Repeat home buyer satisfaction rankings
  • First-time home seller satisfaction rankings

As an agent and a broker that has been with Prudential since the 1990’s I can honestly say, our agents are able to deliver such fabulous service in no small part due to the outstanding support they receive from their company.

Realtor Magazine has the full scoop in their article Customers Most Satisfied at This Company

Choose Your Broker Wisely

In my day to day encounters with real estate agents and the public alike I have people frequently ask me what makes Prudential PenFed Realty different. New agents oftentimes ask why they should work with a company with a commission structure such as ours when other companies offer 100% commission splits for a small monthly and per transaction fee. One thing that many people simply do not put a high enough value on is having a broker that has solid industry experience. So many times I see cases brought before the board that really could be avoided if the agent simply had some strong guideance.  Each time I see one of these cases I keep remembering this article written by Florence Daniels, a long time leader in the real estate community, entitled Choose Your Broker Wisely.

After a recent incident where an agent I know personally could have landed in a bunch of trouble I went and dug up an old copy of the VAR newsletter to keep handy.  Florence says it so much better than I can.  I hope you enjoy the read.

This article is not written to bash brokers but to give a wake-up call to salespersons that remain with brokers who fail to provide adequate training and supervision. Although this article is directed primarily to new salespersons, it will also benefit experienced salespersons.

The Board has considered a number of recent disciplinary cases involving salespersons who violated one or more of the Board’s laws and regulations. In many of these cases, the salespersons claimed that the violation(s) occurred because their brokers did not train them properly or prepare them for the unique set of circumstances that led to the disciplinary action.

This claim carries little weight with the Board. All salespersons are responsible for choosing a broker who will help them avoid risky decisions that could lead to disciplinary action or harmful civil consequences.

During the past five years the real estate profession has witnessed a proliferation of real estate business models which provide different levels of services. No longer is the traditional brokerage firm offering “full service” real estate services the only game in town. Many non-traditional firms now offer “limited” real estate services. Salespersons now have the choice of working with a traditional or non-traditional firm.

Unfortunately, many new salespersons choose the glittering prospect of fast money over building a solid clientele through rigorous training, hard work and sound business practices. Salespersons whose top priority is more compensation or a higher split often fail to seek a broker and firm that would provide the requisite training to enable them to become competent well-rounded real estate professionals.

There are a number of important reasons for a salesperson to choose a broker who values training and supervision. First, new salespersons are generally inexperienced and subject to numerous potential traps associated with the complexity of the real estate business. Rigorous and effective hands-on training can help new salespersons avoid these traps and help them develop into competent real estate professionals. Many firms have their own real estate schools or mentoring programs to accomplish this.

If these options are unavailable, new salespersons still must select a broker who will help them understand complex real estate transaction documents, office policy, how to handle the money or deposits of others, real estate laws and regulations, agency and limited service agency, fair housing laws, how to conduct a listing appointment, and the multitude of principles, practices and nuances involved in real estate.

New salespersons should not expect to learn all this on their own – there is just too much to learn. A broker should be there to train and guide the salesperson, and the salesperson must expect this from their broker. After all, the broker will usually share in any compensation that is generated from the salesperson’s efforts.

As licensees, we should all strive to update our knowledge. And as we continue to learn, our businesses will grow. And most important, we will serve our client base well and reap the referrals for such exceptional service and knowledge.

I love real estate

I love real estate… ask anyone and they will tell you. Once I start talking about it, I cannot seem to stop.

Over time it seems I have answered some questions so many times that it only seemed logical to write it all down some place in case someone out there on the Internet stumbled across my little blog.

Is now a good time to buy?
Should I sell now or rent my house out until the market bounces back?
What is an escalation addendum?
Do you know where I can find a short-term rental?

Give me some time and you will find the answer to these questions and more on this little blog.

Have a question? Feel free to ask, I will give an unbiased answer!