DanBolig’s market share increased and is now at a record high – they also boast 38 percent more satisfied customers than the nearest competitor.
DanBolig is one of the four largest real estate brokerage firms in Denmark. They have 145 agencies and employ around 650 staff.
Why DanBolig called in Maze
The real estate market has been under huge stress for several years. Lead times have been stretched longer and crisis reports are startlingly frequent. DanBolig put in place a strategy, in partnership with Maze, to come through this friction unscathed. Their approach is to remain self-aware, develop best practice, and constantly measure customer satisfaction.
“The real estate market in Denmark is under real pressure,” says Hans-Erik Pedersen, Managing Director. “But regardless of whether prices are moving up or down, real estate customers are of course interested in moving on. It’s our task to ensure that customers sell at the best possible property prices in their particular local market area. Maze helped us to define two areas of focus: growth in sales and customers who can act as ambassadors.”
“As with other multi-branch businesses, DanBolig has large variation between local performance. We have always strived to reduce variation in performance and to elevate most of our agencies to the top performing tiers,” added Kim Jansson, Retail Consultant and Project Manager for this initiative.
The Maze way in action
At our suggestion, DanBolig holds quarterly best-practice meetings and workshops where all owners, brokers and sales agents come together. They meet in three working groups and come up with progressive ideas to take the company forward.
Instead of wasting time finding excuses for bad performance, these workshops focus on developing best practices for making the most of marketing opportunities.
“We’ve created a clear awareness of what the individual must do to perform as well as the top level of our agencies. Be it owner, broker, or case worker, everyone has a clear idea of how to move in the right direction.”
Maze workshop strategies are grounded in facts and figures. We ask the questions that will help local branches to change their behaviour and develop their practices. Who has had the strongest sales growth since the last workshop? Who had the best performance in satisfying sellers and buyers? Breaking performance down into clear figures and strategies in this way gives the other brokers the confidence that great results are achievable simply by adopting certain practices.
“It’s interesting to see how people’s ears prick up when best practices are being explained by a colleague instead of by corporate headquarters or some consultant. This provides them with the confidence that they too can go back to their offices and do what the best do. Of course, we can’t all be the best, but at least now the lower performers have received tailored advice for what they need to do back at their own agencies to improve their results” Says Jansson.
Turning customers into ambassadors
DanBolig believes that their most powerful marketing strategy is in the hands of the customer: if the customer is satisfied they will recommend the firm to others. DanBolig’s latest goal is to ensure that 80 percent of each agency’s customers recommends them to family or friends.
“Moving home is one of the most important choices that we make in life, and customers have enormous expectations of estate agencies” said Pedersen.
“We must therefore work closely with our customers and guarantee quality assurance throughout the journey.”
DanBolig has chosen the Maze system to manage its customer feedback and branch performance. Customers and sellers are surveyed several times throughout the sales process and the results go in to making sure that the firm develops according to best practice.
“By following our delivery promises and sticking to what is expected of us this closely we keep everyone in the firm on their toes, ensuring customer satisfaction.”
“A satisfied customer is a potential ambassador for our firm. If we fail to deliver what our customers demand, it will be noticed in time to address the issues and ensure a happy customer.”
The customer satisfaction system feeds daily updates directly to the individual agency each time a customer evaluates the sales efforts of that particular location. Since customers also answer questions about how many people they know who are considering selling their properties, agents have the ability to contact the customers and gain access to new sales leads.
The process has produced impressive effects. A research institute opinion poll after Maze’s intervention conclusively demonstrated that DanBolig had an astonishing 38 percent more very satisfied (ambassador) customers than its nearest competitor.
“In no time at all, our collaboration with Maze began producing significant results. It’s instilled us with the knowledge of what makes the best the best, and has taught us how to turn the individual performer into a high achiever”.