A Cultural Shift

Real Estate - Industry profile

• Mainly small/medium local offices generally run with minimal resources.

• Extended “cottage” industry profile. Relatively high staff turnover.

• Large franchises comprise estimated 30% of Victorian agencies. (40%, 1998-99)

• Customer service/internal dispute resolution functions - “unnecessary overhead”

• Property value explosion over past 5 years encouraged expansion in office numbers.

• Industry training “process/technically” based.

7.677.09

6.906.026.02

5.915.75

5.665.645.625.545.51

5.304.75

4.574.554.474.44

4.254.013.94

3.753.723.71

3.413.23

Major charities such as the Salvation ArmyAustralia Post

The ABC*Big supermarket chains

Wine companiesBig department store chains

Food manufacturersAirlines

Gas, electric and water companiesThe accounting profession

Motor vehicle manufacturersBig breweries

Sporting bodies such as the AFL or NRLMining companies

Telecommunication companies The legal profession

Government departmentsMedia companies

JournalistsAdvertising agenciesInsurance companies

Petrol or oil companiesBanks

Real estate agentsState politicians

Federal politicians

TRUST?

A little misleading?… Most agencies provide ethically run sales and property management services on behalf of their clients.

• Slow to react to changes in consumer attitudes.• Overly defensive industry organisations, mainly

controlling own destiny……… – until recently

• Increased media attention – particularly TV on

property issues, auctions.• Increased criticism of agents’ tactics • Internal snipers, critics & soothsayers

New Victorian legislation introduced

February 2004

• 1921 - Woodards established

Branches progressively opening over the years Became a major force in inner eastern suburbs. Trained many of today’s industry leaders

• 2002 - Current management takes over brandEstablished Consumer Affairs Division - Comprehensive research program (SOCAP Consumer Emotions Study)

• 2003 - Internal audit & external research completedRe-branding programme Customer Services Charter Internal Customer Advocacy service Internal Dispute Resolution System

• 2004 - Introduction of emotional intelligence program, integrated coaching, staff selection/training

Woodards History

Woodards Consumer Affairs

• Established to initiate the internal changes necessary to improve “on brand” performance .

• Setting guidelines for staff education aimed at more effective understanding and commitment to meeting customer needs.

• Manager empowered to act in capacity of Independent customer advocate.

Changing Corporate culture

• Achieving a distinctive personal, preferably pleasant, customer experience at every point of contact.

Beginning the journey…………..• Educating management – (Including CEO) • Acquiring the level of understanding and

emotional intelligence needed to effect required changes.

Changing corporate thinking

• Much of a company’s resources spent on marketing wasted if staff not fully informed and committed to that which is being promised.

• The main task is to achieve state where staff know that what they do is important and –

• Provided with the tools, training and authority with which to do it.

• To interact in an emotionally

intelligent manner with each other, our

customers and the general public.

• Learning to LISTEN and THINK

more effectively.

• Owning & managing their roles, handling issues and problems - with customer interest top of mind.

Educating staff

Training or Education??To Achieve ON BRAND Service………….

• Focus on educating - to think and act with understanding - as opposed to training by rote and working by habit.

• Defining the balance between process (technical) training and that of emotional intelligence acquisition.

• Requiring staff to be psychologically flexible, open to learning and possess capacity for objective self assessment.

• Easy to say………….takes a little longer to achieve.

Education• Staff survey to gather information on strengths,

weaknesses amongst staff and managers with emphasis on emotional and communication skills.

• Review KPI’s - refine periodic role assessment system.

• Coaching program for all senior managers.• Workshops & discussion groups:

– Identifying, managing & understanding emotions.

– Emotional inputs in decision making.– Expressing emotions clearly and assertively– Communicating more effectively.

Employee support• Access to confidential counselling designed to

assist with personal & professional issues.• Counselling and assistance in dealing with

potentially stressful situations:

– Difficult clients/customers.– Complaint handling.– Workload issues.– Internal relationships, issues & disputes.– Manager to staff & staff to manager issues– Performance assessment criteria (KPI’s).

External communications• Jargon and terminology used by agents can be (often

are) confusing:

– Customer Service charter.– Customer advocacy/support. – Review of systems & terminology.

• Consumer information

– Clear explanation of policies & processes.– Explanation of contract terms & terminology.– Multiphase™ selling system – thought process.– Client surveys.– Focus groups.

Where are we now?

Well, We’re well on the way…………

And……………

We are changing

the face of real Estate