Abstract
An increasing number of estate agencies are entering the real estate market in South Africa and many are struggling to survive as competition grows stronger. Customer service has become of overriding importance to establish a differential advantage that will ensure long-term survival. This study investigates customer service by estate agencies in the residential property market of South Africa. The results indicate that estate agencies seem to be aware of the importance of providing good customer service and of being service-oriented, but they do not always seem to realise the need to conduct marketing research and test the actual satisfaction of customers with the services provided, leaving a potential gap between what the customer wants and what the estate agency provides.
Highlights
Buying a home is one of the major events in the life of most individuals
The impetus for the study came from the realisation that increasingly more estate agencies are entering the real estate market in South Africa, and many are struggling to survive as competition grows stronger
If they wish to establish a differential advantage that will ensure long-term survival, estate agencies will have to learn more about the effective marketing of their services, with the emphasis on rendering excellent customer service
Summary
Buying a home is one of the major events in the life of most individuals. It is usually the single largest financial decision that a household makes and often it is a once in a lifetime event. The comparative ease with which estate agents can enter the market is, a matter of great concern to estate agents who have been in the industry for many years. They contend that the compulsory examination was appropriate because the estate agent deals with large monetary investments and this requires extreme professional service on the part of the estate agent. Customer service becomes of overriding importance in an environment in which these businesses try to survive and compete with one another If they wish to establish a differential advantage that will ensure long-term survival, estate agencies will have to learn more about the effective marketing of their services, with the emphasis on rendering excellent customer service. According to Kurtz and Clow (1998: 308) a differential advantage is some feature or attraction which competitive offerings lack, that will provide satisfaction or understandable benefits to buyers
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