Customer Satisfaction and Selection of Real Estate Companies

Abstract

Customer satisfaction is of paramount importance in any business to stay ahead of competition and enhance market share and profits. And, this is more profound in the Real Estate business where customer satisfaction and referrals play a huge role in the growth of the firm. In this study, two main objectives were looked into – the reasons for customer satisfaction in the Real Estate industry and the factors leading to the selection of a Real Estate firm by the customer fraternity. Through a survey of 238 respondents with the aid of a structured questionnaire, customer feedback on these two parameters was captured. The factors considered for customer satisfaction were: Facilities provided, Eco-friendly location, Offers and Discounts, Financial assistance & Tie-up with banks, Quality of Construction, Materials used for Construction, After Sales maintenances, Handing over time, Registration Process, Employees guidance and support. The factors considered for choice of a particular Real Estate firm were: Quality of construction, Affordable price, Discounts & Offers, Additional Facilities, Location of property, Property design and layout. Statistical tools helped derive the results that Affordable Price was the most prominent reason for selecting a Real Estate firm.